How does the Assessor determine my Personal Propertys value?
Personal property appraisers that establish market value use many different sources. Retail and wholesale price books, vehicle “blue books”, industry catalogs, and owner’s records of purchases are all used. The Department of Revenue Personal Property Manual contains tables, which include factors for both appreciation and depreciation, which can then be used to arrive at Replacement Cost New Less Depreciation (RCNLD). It is synonymous with Full Cash Value (FCV). That is the value that the Assessor places on each item of personal property in your possession as of December 31 of the prior year.
