While researching the value of cars that we discuss on these forums, I came across the J.D. Power NADA (National Automobile Dealers Association) price guide, and it does have a value for the the 1955 Ford Courier Sedan Delivery (our discussion is about the 1955 National Ford Sedan Delivery Ambulance)(https://professionalcarsociety.org/threads/1955-national-ambulance.23626/#post-841941154), between $18,600 to a whopping $106,300. Now, you might wonder how they come to these values, and it is claimed that these values are taken from actual sales of similar vehicles. As we all know, there is a wide difference that determines value, and at best, it is subjective the the whims and desires of the buyers and sellers. Many times, a car is listed as a 1955 Ford, however, it might be a survivor in poor condition, or it could be a barn find in excellent condition. It might be a high dollar resto rod that has a $20,000 blueprinted and balanced racing engine installed. I know that some states use the NADA book to determine sales taxes and personal property taxes on collector cars, and the car that you purchase at a public auction for $10,000, might be valued for sales tax purposes at $25,000. Here is a report the State of CT.... https://www.cga.ct.gov/2001/rpt/2001-R-0153.htm
Check the value of your collector car on their website, and lets discuss this topic. For my car, I selected a 1962 Chevrolet Bel Air basic station wagon, and it came up with an average value of $31,000 for the base model. I am certainly happy that the State has set a fixed value on all collector cars at $500 for personal property value taxation. Our towns tax rate is $25 per thousand, or $775 every year, if it were not a collector car. There has been legislation to move it to $2500, however, it was defeated every time. Does your state have a personal property tax? I know that MA and NH do.
Check the value of your collector car on their website, and lets discuss this topic. For my car, I selected a 1962 Chevrolet Bel Air basic station wagon, and it came up with an average value of $31,000 for the base model. I am certainly happy that the State has set a fixed value on all collector cars at $500 for personal property value taxation. Our towns tax rate is $25 per thousand, or $775 every year, if it were not a collector car. There has been legislation to move it to $2500, however, it was defeated every time. Does your state have a personal property tax? I know that MA and NH do.