Virginia man warns US drivers about vehicle tax assessments after 3.5 year old van valued at whopping $42,200. Here’s how much it’s really worth

He might have a point. Used car prices have spiked in recent years. iSeeCars reviewed pricing data on more than 2.6 million three-year-old vehicles and found the typical used car now sits at about $32,635, roughly $9,500 higher than it was in 2019 (1).

Martin says his county is taxing his vehicles as if the market were at its peak. As a result, he says he’s facing assessments that are far higher than what he could sell his cars for.

“This is garbage, something is not right here. Something is messed up," Martin told ABC 13 (2).

He worries he isn’t the only one. Across Virginia, many drivers may be facing the same sticker shock.

Why Martin says the math doesn’t add up

When Martin compared his Amherst County assessment with online pricing guides, the difference was hard to ignore. The county valued his minivan at $42,200, only a few thousand less than what he paid new three and a half years ago.

Edmunds, TrueCar and Kelley Blue Book all placed the van’s current value much lower, landing between $30,000 and $35,000. His truck showed a similar discrepancy.

“I entered all the information as if it were a perfect vehicle. If you go out there, I have a dented tailgate and a dented side,” he said. “So it’s further proof that this evaluation system is flawed.”

The depreciation math backs him up. Cars typically lose about 20% of their value in the first year, 15% in the second and 12% in the third, according to BrokerLink (3). By that measure, a $45,000 vehicle like Martin’s should be worth about:

• Year 1: $36,000
• Year 2: $30,600
• Year 3: $26,928

And depreciation today may be even steeper. Americans are keeping their vehicles longer, with the average car age now 12.8 years, the highest on record, according to S&P Global Mobility (4). Age, mileage, condition and market trends all shape resale value, and for most drivers, prices trend downward over time, not back toward the original sticker price.

The price of an inflated assessment

ABC 13 compared Amherst County’s tax rate of $3.45 per $100 of assessed value with fair market estimates and found Martin may be paying $450 to $700 more than he should. His appeal didn’t get far. The county offered a mileage deduction worth about $30.

He’s not alone. The Virginia DMV says more than 8.4 million registered vehicles are subject to personal-property tax each year (5). Each locality sets its own rate; some hover near $3.00 per $100 of assessed value, while others push closer to $3.70. Most counties use the J.D. Power value guides (formerly NADA) to determine taxable worth.

Amherst County Commissioner of Revenue Jane Irby told ABC 13 the county uses J.D. Power’s January 1 valuations for every VIN on record. She couldn’t explain why those numbers sometimes come in higher than consumer tools like Kelley Blue Book or Edmunds, but said mileage deductions are currently the only tax relief offered. Neighboring counties confirmed they also use J.D. Power as the industry standard for tax assessments.