In the draft Law amending and supplementing a number of articles of the 2024 Land Law that the Ministry of Agriculture and Environment has just announced to seek comments, the Ministry proposed to amend and supplement Article 158 on principles, bases, and methods of land valuation as follows:
Land valuation must ensure the following principles:
a) Ensuring the role of owner representative and the State's decision-making rights on land prices;
b) The results of determining land prices according to land valuation methods are documents for the State to refer to when deciding on land prices;
c) Comply with the correct order and procedures for land valuation;
d) Ensure compliance with state management requirements and the actual situation of the locality.
Thus, compared to the current 2024 Land Law, the draft emphasizes the role of owner representation and the State's right to decide on land prices.
The draft also proposes to amend and supplement Article 159, including 2 options for building a land price list.
Option 1: The land price list is built according to area and location. For areas with digital cadastral maps and land price databases, a land price list will be built for each plot of land.
The People's Committee at the same level decides on the land price list every 05 years and announces it, applicable from January 1 of the first year of the term.
In case it is necessary to supplement the land price list for the year, the Provincial People's Committee will decide.
Option 2: The land price list is applied to calculate land use fees, land rents when the State allocates land, leases land, permits change of land use purpose, recognizes land use rights, calculates taxes and fees related to land use, exercises the rights and obligations of land users, compensation when the State reclaims land.
The Government stipulates in detail the cases of applying the land price list.
Regarding the land price adjustment coefficient, the draft proposes to amend as follows: The land price adjustment coefficient is the increase and decrease ratio of areas and locations specified in the land price list, applied to cases applying the land price list to adjust land prices in the land price list each year and amended and supplemented annually.
The provincial People's Committee decides to issue a land price adjustment coefficient applicable from January 1st of each year, starting from the next year of the 05 year period of application of the land price list.
