Section 4. Determination of market value.

For purposes of this Act, the market value of any land or building or both shall be estimated to be the price which, in the opinion of the Assessing Authority, such land or building or both have fetched, if sold in the open market on the date of the 11 subsituted w.e.f 1-4-1973 vide section 2 of rajasthan act no. 15 of 1973 published in rajasthan gazettee part IV-A extra ordainary dated 1-4-1973. 12 inserted vide section2(b) Act no 18/73 dated 12.11.73 13 inserted vide s.3 of the rajasthan ordinance - 1988 published in raj. Gaz.Eo- part 4(kha) dated 21.12.88- replaced by Act no.6 of 1989. commencement of the Rajasthan Urban Land Tax (Amendment) Act, 1973.