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Thursday, June 20, 2024

Government proposes issuing land price lists annually

By T. Huy

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HCMC – The Government has submitted a draft of the amended Land Law to the National Assembly, proposing land price lists be annually issued to closely track market prices.

Provincial land price lists are currently issued every five years under the 2013 Land Law to provide a basis for calculating land use fees, taxes, land management fees, fines for administrative violations and land clearance compensation rates.

The summary of the enforcement of the 2013 Land Law highlighted that only a few localities could issue land price lists every five years or adjust them when the market prices fluctuated by over 20%. Consequently, the land price lists were not in line with the prevailing market prices.

The Government stated that the current land price lists would remain in use until the end of 2025 to allow provincial-level governments enough time to prepare for the annual issuance of the new land price lists based on market principles.

The guidelines for issuing the annual land price lists will be specific to areas and land types. It is necessary to update the land price list in line with market movements.

Regarding the regulations on compensation and resettlement, the draft of the amended Land Law specifies that individuals whose land is taken back must be provided with suitable housing to maintain or improve their living conditions.

The draft of the amended Land Law is expected to be reviewed for the second time by the National Assembly during its sitting in May 2023.

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