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property valuation for purchase tax

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newscoop


Joined: 23/12/2007
Posts: 149


Message Posted:
16/10/2008 06:13

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Message 1 of 3 in Discussion

In the past the valuation for purchase tax purposes was based on the "build" value. My neighbour insists it is now based on the contact price. Is he right?



Groucho



Joined: 26/04/2008
Posts: 2369


Message Posted:
16/10/2008 06:19

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Message 2 of 3 in Discussion

Yes he is... the good thing about that is, you no longer have to worry about extra covered areas you may add as they don't affect the valuation.



fire starter


Joined: 19/06/2008
Posts: 1387


Message Posted:
16/10/2008 08:05

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Message 3 of 3 in Discussion

yes, its price paid on the contract!



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