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Land Valuations Set to Rise 20 Percent in Thailand.
Byline: Wichit Chantanusornsiri
Apr. 3--The government wants to increase land valuations by 20 percent to better reflect actual market prices and support the asset-to-capital programme, according to deputy finance minister Varathep Ratanakorn.
Property and land valuations are used as a basis for calculating tax charges on property transactions. The government says official valuations are 75 percent to 80 percent of market prices, based on actual transactions.
Mr Varathep said valuations should more closely reflect market prices to help offer a more accurate benchmark of price trends as well as ensure a correct assessment of tax charges.
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Source: HighBeam Research, Land Valuations Set to Rise 20 Percent in Thailand.