PM 07-01-05
See WAG 25-03-07 for charts on the fair market value of motor vehicles. If a vehicle is not listed in the charts, accept the client's estimate of its value. An independent appraisal of the vehicle's fair market value is required if:
- the Family Community Resource Center has reason to believe the estimate is incorrect, and
- it appears the vehicle's value will affect eligibility.
If the client claims the fair market value of a motor vehicle is less than the value listed in the charts, an independent appraisal can be used to establish the fair market value.
Use the following items to verify the value of a motor vehicle.
- Title
- Registration cards
- Purchase agreements, sales receipts, financing records
- Receipts of purchase or canceled checks
- Independent appraisal
