The Ministry of Natural Resources and Environment proposes 4 methods for land price determination (comparison,...
The Ministry of Natural Resources and Environment proposes 4 methods for land price determination (comparison, income, surplus, and land price adjustment coefficient). Land prices are publicly announced on January 1st every year.
There are 4 methods for land price determination.
The Ministry of Natural Resources and Environment has just announced the draft Decree on land price regulations (guidance on implementing the amended Land Law effective from January 1, 2025) for broad public opinion.
The Ministry of Natural Resources and Environment proposes 4 methods for determining land prices (Photo: Van Ngan/VOV.VN)
According to the draft, organizations consulting land valuation (hired to consult land valuation) are responsible for analyzing, selecting appropriate land valuation methods, and proposing them in the land price scheme construction report as a basis for the environmental and natural resources agency to submit to the Land Valuation Appraisal Council for decision-making. The draft decree proposes the sequence and content of land price determination according to 4 methods: Comparison; income; surplus; and land price adjustment coefficient.
Information on land prices, land rental prices, and land lease prices to apply the comparison method, surplus method, and construction of land price adjustment coefficients is information collected within a period not exceeding 24 months from the time of land valuation backward in the national land database, the national price database.
Information can also be collected from sources such as winning auction prices for land use rights; land prices recorded in transfer contracts; land prices used for financial obligations at tax authorities; land transfer prices, land rental prices, successful land rental market prices collected...
In addition, according to the draft, information on costs, income from agricultural land use to apply the income method must be collected at statistical agencies, tax authorities, agricultural and rural development agencies.
In cases where there are no statistical data, no data from those agencies, then information on actual common market costs of at least 3 land plots closest to the land plot, land area to be valued is collected. "Organizations consulting land valuation when collecting information to apply land valuation methods must be honest, objective, and legally responsible for the accuracy of the survey information," the draft specifies.
Units, organizations conducting land use right auctions, land registration offices, tax authorities, statistical agencies, agricultural and rural development agencies are responsible for providing information to serve land price determination in writing or electronically within a period not exceeding 5 working days.
Departments of Natural Resources and Environment of provinces and cities publicly announce land price lists on January 1 every year.
The draft proposal just announced, the Department of Natural Resources and Environment is responsible for posting the draft land price list on the province-level People's Committee's electronic information page, the Department of Natural Resources and Environment for 30 days to gather opinions from relevant agencies, organizations, and individuals. The provincial-level People's Committee directs the provincial People's Council to pass the land price list.
The provincial People's Council directs the provincial People's Committee to finalize 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 requirements for local land prices, the provincial People's Committee submits to the provincial People's Council for approval before deciding to adjust, amend, supplement the land price list in the year with cases: When forming new roads, streets not yet included in the current land price list; when projects using land have been completed and put into use without land prices in the land price list; cases applying land price lists specified in Article 111(3) and Article 160(1) of the Land Law without land prices in the land price list.
In which, prices of one type of land, some types of land, or all types of land in the land price list can be adjusted, amended, supplemented. The Ministry of Natural Resources and Environment proposes that land price lists can be adjusted, amended, supplemented at one land location, some land locations, or all land locations; at one value area or some value areas, or all value areas.
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