Regarding the enforcement of the land and building tax, which will replace the property tax, the land and building tax will be collected annually based on the assessed property value, with different tax rates depending on the type. Today, we provide an update on the summary guide for land and building tax rates. Who needs to pay?

The first thing to consider is “Is your name on the house registration?”

If you are not living there, that house will be considered a secondary residence, and in this case, regardless of the assessed value, you will have to pay tax.

If your name is on the house registration (the primary residence), you need to check whether it is just a building or both land and building. If it is just a building (for example, your house built on someone else's land), and the assessed value is less than 10 million baht, you will not have to pay tax. If the assessed value is more than 10 million baht, you will have to pay tax. For land and the primary house, if the assessed value is less than 50 million baht, you will not have to pay tax. If it is more than 50 million baht, you will have to pay tax.

 

It is important to know how to accurately calculate the land and building tax rates, which will start being calculated in 2020. For different types of residences, the details are as follows:

Type 1: House without land (Name on house registration)

  • Assessed value less than 10 million baht: Exempt from tax
  • Assessed value 10-50 million baht: Tax rate is 0.2%
  • Assessed value 50-75 million baht: Tax rate is 0.3%
  • Assessed value 75-100 million baht: Tax rate is 0.5%
  • Assessed value more than 100 million baht: Tax rate is 1%

 

Type 2: House and land (Name on house registration)

  • Assessed value less than 50 million baht: Exempt from tax
  • Assessed value 50-75 million baht: Tax rate is 0.3%
  • Assessed value 75-100 million baht: Tax rate is 0.5%
  • Assessed value more than 100 million baht: Tax rate is 1%

 

Type 3: House or land (No name on house registration)

  • Assessed value 0-50 million baht: Tax rate is 0.2%
  • Assessed value 50-75 million baht: Tax rate is 0.3%
  • Assessed value 75-100 million baht: Tax rate is 0.5%
  • Assessed value more than 100 million baht: Tax rate is 1%

Thanks for the information from: Facebook: FINSTREET and Government Housing Bank (GHB)