input: [PERSONAL PROPERTY FAQs] How is personal property assessed? [1] 
output: The Commissioner of the Revenue is required by law to assess vehicles by means of a recognized pricing guide. The pricing guides utilized by the City of Lynchburg are the National Automobile Dealers Association official used car guide and the official older used car guide. Clean trade in is the value taken from these books. If a vehicle is not listed in the guide, the assessment will be based on a percentage of purchase cost or a percentage of MSRP. The pricing guide utilized for motorcycles is the National Automobile Dealers Association Motorcycle appraisal guide. The value taken is clean trade in. For most other personal property, the assessed value is based on a percentage of original cost.