Mon, Dec 31, 2018 - Page 16 News List

Assessed land values show little gain from last year

OUTLIER ON TOP:The Ministry of the Interior said that Lienchiang County saw the biggest increase in assessed land value, with a 3.46 percent rise from a year earlier

Staff writer, with CNA

Land values in Taiwan as assessed by local governments for next year were little changed from assessments made a year earlier, the Ministry of the Interior said.

The appraised land value, known formally as the current assessed land value, on average rose only 0.46 percent for next year from a year earlier, data compiled last week by the ministry showed.

The ministry releases an assessed land value survey at the end of every year based on data collected from local governments to provide an indicator of real-estate market conditions.

Land value data are important because capital gains taxes on property transactions — the land value increment tax — are based on appraised values rather than sale prices.

Among the nation’s 22 cities and counties, Lienchiang County saw the biggest increase in assessed land value with a 3.46 percent rise from a year earlier.

The gains reflected aggressive efforts by the Lienchiang County Government to promote its tourism sector, the ministry said, adding that a low base of comparison was also a factor.

Hsinchu County was second with an increase of 1.34 percent for next year, followed by Yunlin County (up 1.28 percent), Pingtung County (up 1.13 percent) and Keelung (up 1.11 percent), the data showed.

The only areas where assessed land values decreased were New Taipei City and Taoyuan, where they fell 0.24 percent and 1.02 percent respectively, the ministry said.

Taipei, Taichung, Tainan and Kaohsiung — the other four special municipalities — saw land values rise 0.8 percent, 0.96 percent, 0.92 percent and 0.33 percent respectively, it said.

For individual plots of land, Taipei 101’s land had the highest assessed value at NT$1.77 million (US$57,593) per square meter, or NT$5.84 million per ping (3.3m2).

While Lienchiang had the highest growth in assessed land value, its most valuable plot of land — a site in Nangan Township (南竿) that a shopping mall is built on — was only assessed at NT$16,700 per square meter, or NT$60,000 per ping, the data showed.

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