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Nghe An Provincial People's Council approved the draft Resolution to adjust and supplement the land price list.

Pham Bang - Thanh Duy DNUM_CIZAEZCACF 17:49

According to the Provincial People's Committee, the adjustment and supplementation of land price list in the province has been studied and calculated at a reasonable increase level, without greatly affecting the socio-economic development of the locality and people, businesses, and investors.

On the afternoon of April 28, in Vinh city, the People's Council of Nghe An province, term XVIII, term 2021 - 2026, held the 28th session (Special session).

Toàn cảnh Kỳ họp thứ 28 HĐND tỉnh Nghệ An khóa XVIII. Ảnh: Thành Duy
Panorama of the 28th session of the 18th Nghe An Provincial People's Council. Photo: Thanh Duy

Adjust and supplement land prices close to market prices

At the meeting, the Provincial People's Council unanimously approved the draft Resolution amending and supplementing Resolution No. 19/2019/NQ-HDND dated December 12, 2019 of the Provincial People's Council approving the price list of land types in Nghe An province from January 1, 2020 to December 31, 2024.The Resolution takes effect from May 9, 2025.

Accordingly, the draft Resolution amends and supplements Clause 1, Clause 2, Clause 3, Clause 4, Article 2, Resolution No. 19 dated December 12, 2019 of the Provincial People's Council as follows:

Các đồng chí Thường trực HĐND tỉnh Nghệ An khóa XVIII chủ tọa Kỳ họp thứ 28. Ảnh: Thành Duy
Standing members of the 18th Nghe An Provincial People's Council chaired the 28th Session. Photo: Thanh Duy

Land price list for non-agricultural production and business (excluding commercial and service land) is equal to 20% of the price of adjacent residential land (same route location) or residential land with equivalent location (same route and same infrastructure).

The price list for commercial and service land is equal to 25% of the price of adjacent residential land (same route location) or residential land with equivalent location (same route and same infrastructure).

Land price for production and business purposes serving mineral exploitation purposes is equal to 40% of the price of adjacent residential land (same route location) or equivalent location.

Đồng chí Nguyễn Văn Đệ - Ủy viên Ban Chấp hành Đảng bộ, Phó Chủ tịch UBND tinh trình bày báo cáo tóm tắt các tờ trình của UBND tỉnh trình Kỳ họp thứ 28, HĐND tỉnh khóa XVIII. Ảnh: Thành Duy
Comrade Nguyen Van De - Member of the Provincial Party Executive Committee, Vice Chairman of the Provincial People's Committee presented a summary report of the submissions of the Provincial People's Committee to the 28th Session of the 18th Provincial People's Council. Photo: Thanh Duy

Draft Resolution amending and supplementing Clause 6, Article 2, Resolution No. 19 dated December 12, 2019 of the Provincial People's Council as follows: For land plots, residential land plots and non-agricultural land adjacent to at least 2 intersecting roads, based on the Price List specified in Clause 1 and Clause 2, the price is also determined as follows:

a. The price increase is at least 10% compared to the land plot on the same road with a higher price (applicable to land plots with a depth of 30m or less from the road construction boundary).

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Provincial People's Council delegates vote to pass the Resolution. Photo: Pham Bang

b. For land plots with a depth of over 30m, calculated from the road construction boundary, in addition to determining the corner lot price increased by 10% according to the provisions in Point a of this Clause, the price of the remaining land area is determined as follows:

Determine the price of the first 20m area along the road (location 1) in order from the road with the highest price to the road with the lowest price.

The remaining area is determined according to the route with the highest price using the classification method in Clause 7, Article 2. The classification for the remaining adjacent route is only carried out when the price of this route is not lower than 60% of the price of the route with the higher price.

Research and calculate reasonable increase

According to the Proposal of the Provincial People's Committee, the adjustment and supplementation of land prices in the province has been studied and calculated at a reasonable increase level, without greatly affecting the socio-economic development of the locality and people, businesses, and investors.

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Provincial People's Council delegates vote to pass the Resolution. Photo: Pham Bang

The adjusted and supplemented land price list basically increases about 3-4 times compared to the land price list for the period 2020 - 2024 (except for some places with sudden increases).

Therefore, the Provincial Land Price Appraisal Council assigned the Department of Agriculture and Environment to study and adjust the reduction of the proportion of commercial and service land, non-agricultural production and business land and mineral exploitation land to 25, 20 and 40% respectively, then the impact level is not large on the annual land tax payment of enterprises (the increase margin is basically no more than 15% compared to the land price level in the price list for the period 2020 - 2024 and the coefficient K in 2024 according to the provisions of the 2013 Land Law).

For households and individuals, it will affect the implementation of financial obligations of land users in cases where the State recognizes land use rights and allows the change of land use purpose within the limit, due to the increase in residential land prices compared to the current land price list.

In case of exceeding the limit, there is no impact (because the 2013 Land Law stipulates that in case of exceeding the limit, the specific land price must be determined).

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Provincial People's Council delegates vote to pass the Resolution. Photo: Pham Bang

Because the land price increases compared to the current land price list, it will affect the subjects paying non-agricultural land use tax. However, the increase does not have a big impact on land users, because the rate of paying non-agricultural land use tax is low (0.03% x land price in the price list), most land users pay less than 1 million VND/year in tax.

The proposed increase in land prices will resolve the problem of determining financial obligations when transferring land use rights (tax evasion, due to the large difference between the actual transfer price and the price stated in the transfer contract), ensuring fairness for land users, transparency in real estate business, contributing to increasing budget revenue.

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Nghe An Provincial People's Council approved the draft Resolution to adjust and supplement the land price list.
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