Shall regulations on land price bracket be annulled? Shall land price list be built according to the common land market prices in Vietnam?
What is the direction on mechanism for determining land prices in Vietnam?
In Subsection 2.4, Section IV of Resolution 18-NQ/TW 2022 on "continuing to innovate, completing institutions, policies, enhancing the efficiency and effectiveness of land management and use, creating impetus to make our country a high-income developed country," issued by the Central Committee, it is stated as follows:
"- Abolish the land price bracket, establish mechanisms and methods for determining land prices based on market principles, specify the functions, duties, and responsibilities of the agency responsible for determining land prices. The central government will set the criteria and process for inspecting and supervising localities in the creation of land price lists. The provincial People's Council will decide on and oversee the implementation of land prices.
- Implement effective mechanisms to improve the quality of land valuation work, ensuring the independence of the land valuation council, the capacity of consulting organizations to determine land prices, and the capability and ethics of appraisers.
- Supplement and improve regulations to ensure transparency, such as publicizing land prices, mandating transactions through exchanges, payment via banks, prohibiting cash transactions; strictly handling violations..."
What are the regulations on land price bracket in Vietnam?
According to Article 113 of the Land Law 2013, the land price bracket is regulated as follows:
"Article 113. land price bracket
The Government of Vietnam periodically issues a land price bracket every 5 years for each type of land and region. During the implementation period of the land price bracket, if the common market land price increases by 20% or more compared to the maximum price or decreases by 20% or more compared to the minimum price in the land price bracket, the Government of Vietnam adjusts the land price bracket accordingly."
Shall regulations on land price bracket be annulled? Shall land price list be built according to the common land market prices in Vietnam? (Image from the internet)
What are the regulations on application of the current land price bracket in Vietnam?
According to Article 3 of Decree 96/2019/ND-CP regulating the land price bracket:
"Article 3. land price bracket
1. Agricultural land group:
a) land price bracket for annual crops includes rice cultivation land and land for other annual crops - Appendix I;
b) land price bracket for perennial crops - Appendix II;
c) land price bracket for production forests - Appendix III;
d) land price bracket for aquaculture land - Appendix IV;
đ) land price bracket for salt production land - Appendix V.
2. Non-agricultural land group:
a) land price bracket for residential land in rural areas - Appendix VI;
b) land price bracket for commercial land in rural areas - Appendix VII;
c) land price bracket for non-agricultural production and business land not being commercial land in rural areas - Appendix VIII;
d) land price bracket for residential land in urban areas - Appendix IX;
đ) land price bracket for commercial land in urban areas - Appendix X;
e) land price bracket for non-agricultural production and business land not being commercial land in urban areas - Appendix XI."
Based on Article 4 of Decree 96/2019/ND-CP, the economic regions for constructing the land price bracket are as follows:
Economic regions for constructing the land price bracket include:
- The Northern Midlands and Mountainous Region, including: Dien Bien, Lai Chau, Son La, Hoa Binh, Ha Giang, Tuyen Quang, Cao Bang, Bac Kan, Lao Cai, Yen Bai, Phu Tho, Lang Son, Thai Nguyen, Bac Giang, and Quang Ninh.
- The Red River Delta, including centrally run cities and provinces: Vinh Phuc, Bac Ninh, Hanoi, Hai Phong, Hai Duong, Hung Yen, Ha Nam, Nam Dinh, Thai Binh, and Ninh Binh.
- The North Central Region, including: Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, and Thua Thien Hue.
- The South Central Coast, including centrally run cities and provinces: Da Nang, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, and Binh Thuan.
- The Central Highlands, including: Kon Tum, Gia Lai, Dak Nong, Dak Lak, and Lam Dong.
- The Southeast Region, including centrally run cities and provinces: Dong Nai, Binh Duong, Binh Phuoc, Ba Ria - Vung Tau, Tay Ninh, and Ho Chi Minh City.
- The Mekong Delta, including centrally run cities and provinces: Long An, Tien Giang, Ben Tre, Dong Thap, Vinh Long, Tra Vinh, Can Tho, Hau Giang, Soc Trang, An Giang, Kien Giang, Bac Lieu, and Ca Mau.
The application of the land price bracket is implemented according to Article 5 of Decree 96/2019/ND-CP:
- The land price bracket is used as the basis for the provincial People's Committees to construct and adjust the local land price lists.
- The provincial People's Committee, based on local reality, is allowed to set the maximum land price in the land price list, and the adjusted land price list should not exceed 20% of the maximum price of the same type of land in the land price bracket.
- The provincial People's Committee, based on local reality, is allowed to set the maximum land price in the land price list, and the adjusted land price list according to Point a, Clause 3, Article 11 of Decree 44/2014/ND-CP dated May 15, 2014, of the Government of Vietnam on land prices (hereinafter referred to as Decree No. 44/2014/ND-CP) compared to the maximum price of the same type of land in the land price bracket after adjustment according to Clause 2 of this Article.
Thus, according to this Resolution, the land price bracket will be abolished soon. Mechanisms and methods for determining land prices based on market principles will be established, specifying the functions, duties, and responsibilities of the agency responsible for determining land prices. The central government will set the criteria and process for inspecting and supervising localities in the creation of land price lists. The provincial People's Council will decide on and oversee the implementation of land prices.
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