Stamp Duties Consolidation Act 1999 section 19

Valuation of property chargeable with stamp duty

Section 19 provides that the Revenue Commissioners must value property for stamp duty purposes using the same market value rules that apply under the Capital Acquisitions Tax Consolidation Act 2003.

• Property subject to stamp duty is valued using the CAT market value rules set out in section 26 of the Capital Acquisitions Tax Consolidation Act 2003, with any necessary modifications.
• Market value means the price the property would fetch if sold on the open market under conditions reasonably calculated to obtain the best price for the vendor.
• The Revenue Commissioners are empowered to ascertain the market value of any property chargeable with stamp duty.
• Under section 911 of the Taxes Consolidation Act 1997, Revenue may engage an external valuer to ascertain the value of any asset for stamp duty or any other tax they administer.