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What is the meaning of a propertys market value? Is stamp duty payable on market value?

April 26, 2017duty market Payable stamp value

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What is the meaning of a propertys market value? Is stamp duty payable on market value?

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The price that a property can command in the open market is known as its market value. Stamp duty is based on the market value or the agreement value of the property, whichever is greater.