Transfer Tax Land Office Appraised value or sales price?

I have seen a couple of well know law sites in English say that both the stamp tax and transfer tax are based on the Land office's older valuations not the sale price.

Does anyone know the correct way to figure the stamp and transfer payments?

I recently sold my condo and this is what we used: http://lawonline.weebly.com/property-transfer-tax-and-fee.html

The sales price did not enter into it. You use appraised value.

I recently sold my condo and this is what we used: http://lawonline.weebly.com/property-transfer-tax-and-fee.html

The sales price did not enter into it. You use appraised value.

Marty,

Thank you for your post - that is one of the two sites that I looked at. The other being Siam legal.

Good to know that teh appraised value was used - I wonder if all the land offices follow the same rule?

From my experience they all use the Appraised Value as no one declares the real sale price (as it's always more) as they'll use that if you tell them!

From my experience they all use the Appraised Value as no one declares the real sale price (as it's always more) as they'll use that if you tell them!

Thank you.

My wife bought the land (owned by the seller for 9 years) today and it turned out that being agricultural land we got a discount on the transfer fees.

Including the stamp our half ended up being about .75% (half of 1.5%)

We also used the true purchase price which will save us lots of income tax when we sell the property in around 10 years from now.

Hmm, I never did figure out if they used the appraised value or purchase price.

Maybe I do not correctly understand the transaction and there was no discount from the normal 2.5% instead maybe they used the lower appraisal value?

The amount was reasonable so I didn't worry about to much. In and out of the land office in about 1 and a half hours on a busy day.