Recently, the People's Committee of Ba Ria - Vung Tau province issued Decision No. 26/2024 to adjust and amend a number of articles in the issued decisions related to the land price list. The change in land prices in Decision 26/2024 has made some people mistakenly believe that the land price list has increased by 20-30%.
According to Mr. Phan Van Manh - Deputy Director of the Department of Natural Resources and Environment, this adjustment and supplement is actually only to comply with the provisions of the 2024 Land Law (effective from August 1, 2024), but basically does not change the currently applied land price list.
Previously, the Provincial People's Committee issued Decision No. 38/2019 regulating the price list of land types every 5 years (January 1, 2020 to December 31, 2024). In 2022, the province issued Decision No. 25/2022 amending and supplementing a number of articles of Decision No. 38. At the end of July 2024, the province issued Decision 20/2024 to adjust and supplement the appendix of the list of routes of Decision 25/2022.
At the same time, in December 2023, the province issued Decision No. 65/2023 regulating the land price adjustment coefficient in the whole province. In which, the adjustment coefficient of most roads is 1.2; some roads are 1.1 and many roads in Chau Duc district are 1.3.
On this basis, the actual land price was previously calculated by multiplying the land price in Decision 25/2022 (or Decision 20/2024) by the adjustment coefficient specified in Decision 65/2023.
For example, Ba Cu Street (Vung Tau City) has a land price at position 1 according to Decision No. 25/2022 of 65 million VND/m2; with an adjustment coefficient of 1.2 in Decision No. 65/2023, the land price at position 1 will be calculated at 78 million VND/m2.
According to Decision 26/2024, the land price at location 1 of Ba Cu Street will increase to 78 million VND/m2, but the adjustment coefficient according to Decision 65/2023 will no longer apply. And this price is equal to the land price according to the previous calculation method. This shows that the land price and financial obligations of land users do not actually change.
The reason is that the current Land Law 2024, effective from August 1, 2024, stipulates that the land price list according to the Land Law 2013 will continue to be used until December 31, 2025; but does not stipulate the land price adjustment coefficient.
"Therefore, in the newly issued Decision 26/2024, the land value is adjusted to be exactly equal to the land value currently applied and to comply with the new law. This price list does not apply to site clearance compensation but conducts a specific price survey as is still being implemented," Mr. Manh informed.
Only a few cases are affected in an upward direction but not significantly. These are cases of land price increase due to changing road types according to Decision 20/2024; or cases of requesting to change land use purpose (previously, if it was outside the limit, the adjustment coefficient was multiplied, but now there is only one price list).
The leader of the Department of Natural Resources and Environment also said that the land price list adjusted according to Decision No. 26/2024 will be applied until the end of 2024. If necessary, the province will consider adjusting it in 2025.
By the end of 2025, the province will develop a new land price list to be applied from January 1, 2026, and will be developed annually according to the 2024 Land Law, not according to the previous 5-year cycle.
