Thailand Property Taxe Changes

Post by **rct** » June 19, 2014, 2:16 am

Interesting article on proposed changes to property taxes.

http://www.bangkokpost.com/news/local/4 ... -most-land

Post by **FrazeeDK** » September 13, 2014, 11:16 am

from the Bangkok Post and English translation of a Thai Rath article; http://www.bangkokpost.com/news/local/4 ... -this-year

bottom line---

Residential land: Tax = 1,000 baht per million baht of assessed value

question: who does the assessment and when will it happen???

with the massive inflation in perceived land values this could result in some serious taxes as compared to the couple of hundred baht the wife paid previously...

Post by **FrazeeDK** » December 27, 2014, 8:12 pm

Update: http://www.bangkokpost.com/business/fin ... ace-period The article indicates the Treasury Department have done a tax assessment on 7,8 million land plots nationwide... Has anybody seen anyone "assessing" land plots in Udon?? The quoted 1% tax rate could be a tremendous burden if the assessment is in line with the current absolutely inflated values here in Udon... But, if they did do that I can see regular Thai folk in my neighborhood who would have property tax bills of 10-50,000 baht per year. And you'd have to wonder if they would assess any property with a Farang association higher?

Post by **rickfarang** » December 27, 2014, 10:34 pm

When titles are registered at the land office, a value is assigned, which is used to calculate the property transfer charge. They could use that value as the assessed value for property tax purposes.

Post by **waanjai** » December 27, 2014, 11:44 pm

Still, the assessed value is well below the level of current market prices. And if someone sells a piece of land they normally ask for the market price. Should they then ask for the assessed value only?

Post by **FrazeeDK** » August 3, 2015, 9:26 am

and the latest floated by the Revenue folks.. This still would be a tough one based on current land values versus the 1981 assessments (in the article) now being used for land tax... Dropping the house from the valuation would certainly make it easier to assess merely the land based on current values/sales in each area..
http://www.bangkokpost.com/business/new ... gets-tweak

Post by **FrazeeDK** » August 5, 2015, 9:45 am

this will go on endlessly.. Remember though, the land/property assessments have evidently been ongoing throughout the country.. How they do it is unknown but if the government ever actually enacts a new land and property tax we'll likely find out.. http://www.bangkokpost.com/business/fin ... her-change