Albie......the $20,000 assigned value by the DMV " might " be due to the make being ERA rather than Composite. In times past, years + ago, a DMV clerk that was familiar with kit cars would have changed any kit car including Cobra to Composite as the make. Unless the current practice has changed within the DMV.
Someone else with current knowledge could clarify the current DMV usage of Composite as the make for kit cars.
When the registration paperwork was submitted, was ERA or Composite used as the Make ?
DMV: Composite Vehicles