Proposal of Land Price Coefficients in 2020

​

Nguyen Ai Quoc Street, Bien Hoa City, has a land price of VND 16-22 million/m2

Nguyen Ai Quoc Street, Bien Hoa City, has a land price of VND 16-22 million/m2

In early 2020, the provincial People's Council passed a Resolution on the provincial land price list in the period of 2020-2024. However, according to the Government's regulations, the provinces and cities directly under the Central Government must elaborate additional land price adjustment coefficients and issue them on January 1 every year. The time of surveying to set the coefficient of land price adjustment is from 1 to 10 every year.

At the meeting, Vice Chairman of the Provincial People's Committee, Mr. Nguyen Quoc Hung said that due to the land price list of the province newly issued from January 2020, it has increased by 1.5-3 times compared to the beginning of 2019, and hence all departments and agencies have agreed that this year, the land price coefficient will be set as 1. Therefore, the land price applied in the above cases will not change compared to the newly issued land price list. However, if this land price coefficient is to be applied, it must be approved by the provincial People's Council in the next meeting.

The land price coefficients are for determining land prices collected from land use levies and land rents of organizations, households and individuals when the State recognizes the land use right, assigns or changes the land use purpose for all types of land according to each location, route and area as appropriate. All leads to main purpose which is to avoid revenue loss for the State budget.

                                                                                                      Vi Quan

​