Home owners face higher taxes next year after the Taipei City Government increased the declared land value in the capital by 1.52 percent.
The upward revision reflects a stable recovery in real-estate transactions and prices in Taipei and would not chill the market, analysts said.
The adjustments mean that people with one home face an average increase of NT$66 (US$2.18) in land tax next year, Sinyi Realty Inc (信義房屋) researcher Tseng Ching-der (曾進德) said.
“The extra tax burden is modest and should not scare away potential buyers,” Tseng said in a report.
The plot of land that the Taipei 101 skyscraper occupies in Xinyi District (信義) retained the title of the city’s most expensive for the seventh consecutive year at NT$5.95 million per ping (3.3m2), followed by the Shin Kong Tower plot near the Taipei Railway Station valued at NT$5.76 million per ping, Tseng said, citing city government statistics.
Land near the station could gain value upon completion of the Taipei Twin Tower Project in light of its convenient location, with easy access to the High-Speed Rail, the Taipei Mass Rapid Transit (MRT) and the Airport MRT lines, as well as bus routes, Tseng said.
Xinyi is no doubt the most expensive area in terms of commercial and residential property values, with several mixed-use buildings making the top 10, Tseng said.
As for residential plots, the Palace on Renai Road topped the list with a declared worth of NT$4.26 million per ping, Sinyi said, adding that two residential buildings nearby were second at NT$3.92 million per ping.
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