Which appraisal approach fits a Wisconsin RV?
It depends on how the unit is used. Owner-used RVs are valued through the market approach with sales comparables, supported by cost analysis, while the income approach is reserved for units that demonstrably earn rental or business revenue. Applying an income method to a family motorhome is inappropriate, and a credible report explains its choice.
Is an RV's fair market value just 85% of MSRP?
No, that shortcut is only a rough rule tied to specific tax and depreciation contexts, not a universal market truth. Actual value depends on the model's real transaction history, regional demand, mileage, and condition, which is why we work from sold comparables and documented condition rather than a percentage formula.
How does a bonded title work for an RV in Wisconsin?
The applicant purchases a surety bond for 1.5 times the vehicle's value and submits it with the title application, with value set by a recognized price guide or a figure assigned by the Department. An independent appraisal enters the process only when standard guides cannot reasonably establish value, as with heavily customized or converted units.
Are RVs exempt from Wisconsin's personal property tax?
Yes. Wis. Stat. § 70.111(19) expressly exempts camping trailers, recreational mobile homes, and recreational vehicles from personal property taxation. The exemption only reaches Chapter 70 taxes, though: the same RV is still inventoried and valued in probate, divided in divorce, and appraised when seized in enforcement proceedings, so tax-exempt never means value-irrelevant.