Bangkok, The Treasury Department reviewed the appraised prices of 11 million plots of land, effective for the fiscal year ’70-74, specifying the same base during COVID-19. Moved only 2.7 percent, accepting “Landbridge Southern Region” prices may increase with prosperity.
Mr. Chamroen Phothiyod, Director-General of the Treasury Department, said that the current appraisal of land prices by the Treasury Department Use as a reference for calculating land and building taxes. and used as a specific business tax base Transfer fees for the year 2023-26, a period of 4 years, still using the same price base of 2016-2029 due to the economy still not being good. There is a COVID-19 problem. As a result, the base price of land is not very high. When the economy begins to recover Therefore, we must start evaluating a new calculation base of 11 million plots to use as a basis for calculating the remaining period in 2024-2024. The remaining period is consistent with the current situation. and must be evaluated as a basis i
n 2027-74.
admits that land appraisal prices in 2023-26 increased by 8.93 percent, land prices in Bangkok Price increased 2.76 percent. Now there is a central platform. Link between the Treasury Department and the Land Department and local administrative organizations To use the base price for evaluating the same rate. and used to calculate local land tax in every province. We are currently investigating whether the market transactions in 2023 are different from the Treasury Department’s land appraisal prices. How much? If the market price is more than 15 percent away from the appraised price, there are many plots. Therefore, 11 million plots must be revisited every three years from a total of 33.4 million plots nationwide.
‘I admit that the appraised price in 2023 increased by an average of 2.7 percent according to different popular locations. To use for mortgages and to pay transfer fees, for example, the location in Siam Square is priced at 3.5 million baht per square wah, the Ploenchit location on Wirel
ess Road is 1 million baht per square wah. If any location changes hands more will be revised to be consistent with the current market Therefore, land prices must be re-evaluated every 3 years. As for private sector proposals, I would like to extend the time for collecting the 50 percent land tax for another year. The government will decide,’ said the Director-General of the Treasury Department.
For buying and selling land, it changed hands before the COVID-19 problem. About 700,000 plots were transferred when the COVID-19 problem arose. There were 340,000 plots of land transferred due to the economic slowdown. Therefore there is less trading and changing hands. As for the Land Bridge project in the southern region, the government is pushing for it. including negotiations on foreign investment construction planning Must evaluate that How much government land is used? You have to look at what projects are being built, including the port, distribution center, commercial buildings, roadside rest areas, and wher
e they are located. It is accepted that land prices may increase with the development of large-scale projects in each area.
Source: Thai News Agency