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How realty to be valued.
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7.—The net value of real estate shall for the purposes of this Act be ascertained in the case of a fee simple by deducting from the gross value thereof the gross amount of any mortgage or other principal sum charged thereon, and the value of any annuity or other periodical payment chargeable thereon, to be valued according to the tables and rules in the Schedule to the Succession Duty Act, 1853, and in the case of an estate for life according to the said tables and rules.
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