There are 4 methods for determining land prices
The Ministry of Natural Resources and Environment has just announced a draft Decree on regulations on land prices (guiding the implementation of the amended Land Law effective from January 1, 2025) for public opinions.
The Ministry of Natural Resources and Environment proposes 4 methods for determining land prices (Photo: Van Ngan/VOV.VN)
According to the draft, the land valuation consulting organization (hired to consult on land valuation) is responsible for analyzing, selecting the appropriate land valuation method and proposing in the explanatory report to build a land price plan as the basis for the same-level land and environmental resources authority to decide. The draft decree proposes the sequence, content of determining land prices according to 4 methods: Comparison; income; surplus value and land price adjustment coefficient.
Information on land prices, land rent, and rent prices for applying the comparison method, the surplus method, and constructing land price adjustment coefficient are information collected within a period of not more than 24 months from the land valuation time is backward is collected in the national land database, the national price database.
Additional information, such as the price won in land use right auction; land price recorded in the transfer contract; land price used for financial obligations at the tax authorities; market-based land transfer price, land rent, rent price collected…
In addition, according to the draft, information on costs, income from the use of agricultural land for applying the income method must be collected at statistical agencies, tax agencies, agriculture and rural development agencies.
In case there is no statistical data, no data from those agencies, then collect information on the actual common costs on the market of at least 3 adjacent plots of land, land area to be valued. “The land valuation consulting organization when collecting information to apply the land valuation method must be honest, objective and responsible for the legal accuracy of the survey information,” the draft states.
The unit, organization implementing land use right auction, land registration office, tax agencies, statistical agencies, agricultural and rural development agencies are responsible for providing information to serve land valuation work in writing or electronic methods within a period of not more than 5 working days.
The Department of Natural Resources and Environment of provinces and cities publicly announces land prices on January 1 every year
The proposed draft has just been announced, the Department of Natural Resources and Environment is responsible for publishing the draft land price list on the electronic information page of the provincial People’s Committee, the Department of Natural Resources and Environment within 30 days to collect opinions from related agencies, organizations, and individuals. The provincial People’s Committee submits the land price list to the Provincial People’s Council for approval.
The Provincial People’s Council directs the provincial People’s Committee to perfect the land price list for issuance; publicly announce the land price list on January 1 every year and update it in the national land database.
Based on the state management requirement of land prices of localities, the provincial People’s Committee submits to the Provincial People’s Council for approval before deciding to adjust, amend, supplement the land price list during the year in the following cases: When forming new roads, streets not yet in the current land price list; when projects using land have been completed for use without land prices in the land price list; cases of applying the land price list prescribed in Clause 3, Article 111 and Clause 1, Article 160 of the Land Law which have no land price in the land price list.
In which, it may adjust, amend, supplement the price of one type of land, some types of land, or all types of land in the land price list. The Ministry of Natural Resources and Environment proposes, it may adjust and supplement the land price list at a land location, some land locations or all land locations; at a value range or some value ranges or all value ranges.
