Inheritance of Property with Loan

My husband is due to inherit a property with a mortgage as part of a will. the property is worth €200000 and the outstanding mortgage is €90000. When paying CAT tax will the value of the loan be offset against the mortgage when calculating tax?
i.e.
200000-90000
= 110000

- gift allowance
= taxable gain

Yes it is the net value of what is being inherited that will be the value for CAT purposes.

So the value for CAT will be €110,000