New land price list The new land price list issued under the 2024 Land Law has made important adjustments, directly affecting related costs when transacting real estate.
Previously, the land price list was built every 5 years, leading to being out of date with market prices. According to the 2024 Land Law, the land price list will be updated annually, ensuring a closer reflection of the actual value of the land.
The new land price list serves as the basis for calculating many fees and charges related to land use rights and real estate transactions. Some of the items directly affected include:
Registration fee = 0.5% of land value according to price list
According to the provisions of Article 3 of Decree No. 10/2022/ND-CP guided by Clause 1, Article 2 of Circular 13/2022/TT-BTC:
The registration fee is calculated based on the value of the property (land use rights or property attached to the land) according to the land price list at the time of registration. When the land price increases, this fee also increases.
Land use fee:
According to the provisions of Article 119 of the 2024 Land Law, Decree 103/2024/ND-CP:
In case of land use purpose change (for example, from agricultural land to residential land), land use fee is calculated based on land price in the new price list, leading to increased costs.
Personal income tax from real estate transfer (usually 2% of the transfer value)
Lawyer Truong Anh Tu (TAT Law Firm) said that market land prices and land price lists can still differ, especially in areas with large fluctuations. Land valuation needs to be based on a transparent and fair process to ensure the interests of the people and the State.
In addition, the lawyer also recommends that people carefully check the local land price list before making real estate transactions; Learn about preferential policies or fee exemptions, if any; Consult real estate experts or competent authorities for more detailed information on financial obligations.
