Some Chesterfield vehicles go up in assessed value - NBC12 - WWBT - Richmond, VA News On Your Side

Some Chesterfield vehicles go up in assessed value

By Melissa Correa - bio | email
Posted by Terry Alexander - email

CHESTERFIELD, VA (WWBT) – If you own a truck or SUV and live in Chesterfield County be prepared. The value of your vehicle could be higher than last year, meaning a bigger property tax bill.

After cruising through the carwash, Leroy Gabayan's SUV looks like new. He has to keep it that way since he couldn't get rid of it last year.

"I couldn't trade it in. I didn't qualify for the Cash for Clunkers," said Leroy.

His SUV wasn't enough of a gas guzzler. But this year, when it comes to vehicle tax assessments, his little vehicle is paying off in a big way.

"It's been the same for the last two years, and this year, I think it went down a little bit," he said.

But not all SUV's trucks or crossovers saw a drop in value. Thanks to Cash for Clunkers used gas guzzlers are now a hot commodity.

"When you traded in your gas guzzling SUV it went to the junkyard instead of going down the street to a used car lot," said Commissioner of the Revenue Joe Horbal.

Chesterfield County bases its values on the NADA used car book. It's been that way for decades.  With fewer trucks and SUV's on car lots the value of those used vehicles goes up.

To give you an idea of how values have changed for trucks and SUV's, we're going to use a 2003 Ford Truck. In 2008 its value was assessed at $12,000.  Last year it was assessed 30% lower, dropping to $8,350.  This year the value was driven up to $9,100.

According to the county the reason behind the 30% drop is in 2009 fuel-efficient cars were selling like hotcake's, there wasn't enough demand for big vehicles.

"So basically the folks that own those cars got a pretty good break in 2009," Horbal said.

And for Leroy Gabayan, who has a fuel-efficient SUV, he'll be riding that pretty good break all the way into 2011.

So tonight, you may want to pull out your vehicle tax assessments for the two years. Chesterfield County says owners should see about a 20% drop in value from 2008 to 2010.

Copyright 2010 WWBT NBC12. All rights reserved.

  • Latest news from NBC12.comNEWSMore>>

  • FIRST ALERT FORECAST: MARIA COMES CLOSER TO THE OUTER BANKS BY TUESDAY & WEDNESDAY

    FIRST ALERT FORECAST: MARIA COMES CLOSER TO THE OUTER BANKS BY TUESDAY & WEDNESDAY

    Sunday, September 24 2017 9:06 PM EDT2017-09-25 01:06:02 GMT

    Get the latest forecast from the NBC12 First Alert Weather team.

    More >>

    Get the latest forecast from the NBC12 First Alert Weather team.

    More >>
  • 1 person hurt, residents displaced after Henrico apartment fire

    1 person hurt, residents displaced after Henrico apartment fire

    Sunday, September 24 2017 3:17 PM EDT2017-09-24 19:17:05 GMT
    (Source: NBC12)(Source: NBC12)
    Crews are investigating, after a fire broke out at an apartment in Henrico. It happened in the 10 block of Chase Gayton Drive, around 1:23 p.m. Sunday. When crews got on scene, they say fire was coming from the top floor of a 3-story building. It took firefighters about 20 minutes to put that fire out. Officials say one person was taken to VCU Medical Center with non-life-threatening injuries, and the Red Cross is helping several occupants who were displaced by the fire. They sa...More >>
    Crews are investigating, after a fire broke out at an apartment in Henrico. It happened in the 10 block of Chase Gayton Drive, around 1:23 p.m. Sunday. When crews got on scene, they say fire was coming from the top floor of a 3-story building. It took firefighters about 20 minutes to put that fire out. Officials say one person was taken to VCU Medical Center with non-life-threatening injuries, and the Red Cross is helping several occupants who were displaced by the fire. They sa...More >>
  • Officials ID woman's body found near road in Louisa

    Officials ID woman's body found near road in Louisa

    Sunday, September 24 2017 3:12 PM EDT2017-09-24 19:12:35 GMT
    Dawn Marie Meade (Source: Louisa County Sheriff's Office)Dawn Marie Meade (Source: Louisa County Sheriff's Office)

    Police say the victim was hit by a car. Her body was found near Firehouse Drive in the Blue Ridge Shores area.

    More >>

    Police say the victim was hit by a car. Her body was found near Firehouse Drive in the Blue Ridge Shores area.

    More >>
Powered by Frankly