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The Impact of the Land and Building Tax on Bangkok Land

By on Jun 08, 2016 in Investment-Land, Property News

Bangkok land is set to be impacted by the cabinet approving the framework of the land and building tax bill. This is after a long delay due to property developers opposing the plan.

Ampon Kittiampon, secretary-general of the cabinet, said the Council of State would subsequently vet the law and forward it to the National Legislative Assembly to be enacted.  The tax will apply to land, buildings and condominium units.

Rates are as follows:

  • Maximum tax rates : 0.2% of appraisal value for farm land; 0.5% for residential use; and 2% for other use including commercial and industrial purposes.
  • Undeveloped land : maximum rate of 5% will apply in the first three years, to double over the next three years.
  • Tax will only be levied on homes and land used for agriculture over 50 million baht and will then only be taxed on the amount exceeding 50 million baht.

This means anybody with a home or farm with an appraisal value below 50 million baht won’t need to pay this tax.

land tax

Source: Bangkok Post – 7 June 2016
For the full article click here.

Comment

Bam Bam

This article appears to be incorrect, our house in Pattaya, apparently deemed to be worth 1,400,000 baht has just been taxed for 7,000 baht.

My wife also has property in the north in Nong Bua Lam Phu, both houses and farm land and it has also been taxed a total of 7,000 baht.








 

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