Louisiana Administrative Code › Title 55 - PUBLIC SAFETY › Part III - Motor Vehicles › Chapter 3 - License Plates and Removal of Plates, Registrations, and Title Transactions › Subchapter B - Vehicle Registration License Tax › Section III-355 - Valuation of Motor Vehicles for Purposes of Initial and Subsequent Registration on or after January 1, 1990

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				  Except in cases of damaged motor vehicles, donations, out-of-state transfers,
				  or low bills of sale, the value of the motor vehicle shall be determined by the
				  purchase price as indicated on the bill of sale or invoice.
B. In the case of donations, out-of-state
				  transfers, or low bills of sale, the value shall be determined and based upon
				  the full loan value contained in the most current
N.A.D.A. Official
				  Used Car Guide, South-Western Edition
(or its successor) as maintained
				  by the Office of Motor Vehicles. In the case of classic automobiles or other
				  automobiles of particular interest not included in the
N.A.D.A.
				  Official Used Car Guide, South-Western Edition
(or its successor), the
				  full loan value shall be determined by reference to the
N.A.D.A.
				  Official Older Used Car Guide
or the
Value Guide to CARS of
				  Particular Interest
. If the value of the motor vehicle cannot be
				  determined by reference to any of these three guide books, the actual value of
				  the motor vehicle shall be determined by the Office of Motor Vehicles based
				  upon such information supplied by the person seeking to register the vehicle
				  and such information that may be required from such person by the assistant
				  secretary or his designee.
C. The
				  valuation of a damaged motor vehicle shall be the value of the motor vehicle at
				  time of acquisition as determined pursuant to §355. C.1 The
				  following must be presented to the Office of Motor Vehicles to establish an
				  actual value on such a vehicle of less than the full loan value:
1.
a. an
				  affidavit by the seller or transferor of the motor vehicle specifying in detail
				  the nature of damage to the vehicle and a written invoice from a bona fide
				  mechanic or repairman showing a detailed estimate of the cost of repair to said
				  vehicle. The assistant secretary or his designee may require additional
				  information or documentation to determine the value of the motor vehicle. Upon
				  review of all documentation and information, the assistant secretary or his
				  designee may add the proven damages to the sales price of the motor vehicle as
				  is reflected in the bill of sale submitted in connection with the application
				  to register the motor vehicle. If the total of the proven damages and the sales
				  price is within $1,000 of the full loan value as determined in §355 B,
				  the vehicle shall be valued according to the sales price. If the total of the
				  proven damages and the sales price differs by more than $1,000 from the full
				  loan value as determined in §355 B, the value of the motor vehicle shall
				  be determined by deducting the proven damages from the full loan value as
				  determined in §355 B;
b. upon
				  a showing of good cause by the person applying to register the damaged motor
				  vehicle, the assistant secretary or his designee may assign a value other than
				  the value established pursuant to §355. B The applicant for registration
				  shall provide the department with such documentation as is necessary to justify
				  this alternative valuation;