Ho Chi Minh City Real Estate Association (HoREA) provides feedback on the draft resolution of the Government to address difficulties related to land use fee calculation for households and individuals when converting agricultural land to residential land.
Regarding the land use fee rates, HoREA proposes amendments to points a and b of Clause 1, Article 2 of the draft resolution. They suggest that the Government “fix” the rates at 20% (instead of no less than 30%) for land area within the residential land allocation limit, and 30% (instead of no less than 50%) for land area exceeding this limit.
HoREA recommends a fixed and reduced land conversion fee from agricultural to residential for citizens.
Mr. Le Hoang Chau, Chairman of HoREA, explains that this proposal is to ensure uniformity across the country and ease of implementation for local authorities. It is also financially feasible for citizens, similar to the application of tax rates in the Tax Law.
Mr. Chau adds that if the rates are set at a minimum of 30% and 50% for land within and exceeding the residential allocation limit, respectively, it may hinder local authorities’ decision-making regarding these rates.
HoREA’s suggested rates of 20% and 30% are based on the significant increases in land prices across provinces and cities, as reflected in the adjusted land price tables. For example, Ho Chi Minh City’s land prices have increased by 2.36 to 38.8 times compared to the 2020-2024 period. Therefore, the proposed rates of 30% and 50% by the Ministry of Finance are still considered high.
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