TO: ALL COUNTY AUDITORS - Bulletin No. 205
DATE: October 7, 1965
FROM: Gerald A. Donahue, Tax Commissioner
RE: True value of used car inventories
To achieve uniformity with respect to the assessment of such
property, the true value of used cars held for sale, to the
extent they represent vehicles accepted as part payment
toward the selling price of a new or used car, shall be
measured at the value maintained in the books and records of
the taxpayer or "N. A. D. A. Official Used Car Guide" average
wholesale, whichever is greater. The true value of used cars
otherwise acquired shall be measured at cost.
All previous bulletins and memoranda with respect to this
subject are herewith rescinded.