[Code of Federal Regulations]
[Title 19, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 19CFR148.24]

[Page 140]
 
                        TITLE 19--CUSTOMS DUTIES
 
  CHAPTER I--UNITED STATES CUSTOMS SERVICE, DEPARTMENT OF THE TREASURY
 
PART 148--PERSONAL DECLARATIONS AND EXEMPTIONS--Table of Contents
 
  Subpart C--Examination of Baggage and Collection of Duties and Taxes
 
Sec. 148.24  Determination of dutiable value.

    (a) Principles applied. In determining the dutiable value of 
articles examined under Sec. 148.23, the Customs inspector shall apply 
the principles of section 402, Tariff Act of 1930, as amended (19 U.S.C. 
1401a), and shall not regard the declared value or price as conclusive.
    (b) Adjustment of value declared. An adjustment shall be made by the 
Customs inspector whenever the purchase price or value declared differs 
from the fair retail value, whether by reason of depreciation due to 
wear or use, circumstances of purchase, or acquisition, or for any other 
reason. He shall give due consideration to the condition of the articles 
at the time of importation, but he shall not make any allowance for wear 
and use in excess of 25 per centum of the declared price or value of a 
worn or used article. A passenger who desires to claim a larger 
allowance may arrange for formal entry and appraisement of his goods.

[T.D. 73-27, 38 FR 2449, Jan. 26, 1973, as amended by T.D. 87-89, 52 FR 
24445, July 1, 1987]