Article 73-21Determination of the Price of Real Property, etc.

①With respect to real property for which the price of the fixed asset is registered in the fixed assets tax ledger, the prefectural governor is to determine, based on that price, the price that is to be the tax base of real property acquisition tax relating to that real property; provided, however, that this does not apply where, owing to special circumstances such as an addition, reconstruction, destruction, or change of land category with respect to that real property, it is difficult to rely on the price of that fixed asset.

②With respect to real property for which the price of the fixed asset is not registered in the fixed assets tax ledger or real property falling under the proviso to the preceding paragraph, the prefectural governor is to determine, in accordance with the fixed asset valuation standards under Article 388, paragraph (1), the price that is to be the tax base of real property acquisition tax relating to that real property.

③When the prefectural governor has determined the price of real property pursuant to the provisions of the preceding paragraph, the governor must immediately notify the mayor of the municipality in which that real property is located of that price and other necessary matters.

④If, as a result of determining the price that is to be the tax base of real property acquisition tax, the prefectural governor finds an imbalance between municipalities in the prices of real property registered in the fixed assets tax ledger, the governor is to give advice, stating reasons, to the heads of the relevant municipalities on the determination of the price that is to be the tax base of fixed assets tax.