The Treasury Department will begin valuing new land and buildings for the fiscal years 2023-2026 on 1 January 2023, after postponing the appraisal since 2020 because of the COVID epidemic situation. Initially, the national average price of land increased by 8.93%, while the appraisal price of buildings increased by 6.21%.

      Land prices in the Bangkok area increased by an average of 3%, primarily along the electric train lines. The highest appraisal price is still 1,000,000 baht per square wah in the Silom Road, Ploenchit Road, Wittayu Road, and Rama 1 Road area. 

      The Treasury Department has developed a land price monitoring system for disseminating information to the public that is more modern and easier to use than the original system, both in terms of displaying information and using it, in a way that is not complicated, including showing a map, and supporting the use of in both Thai and English to facilitate more users through the website https://assessprice.treasury.go.th/. You can check the title deed number, land number Nor.Sor.3 Kor., condominiums, buildings, and other types of land.

      The Treasury Department’s land appraisal price is the middle price to be used as a reference for collecting fees when buying-selling or transferring land, to calculate expenses, including paying land and building taxes, which depend on the appraised value.

For land and building tax rates in 2023

1. Current agricultural tax rate is 0.01-0.1%;

2. Current residential tax rate is 0.02-0.1%:

2.1 Land and buildings owned by individuals, the current tax rate is 0.03-0.1%;

2.2 Buildings used by the owner who is an individual for residence and whose name is listed in the household registration, the current tax rate is 0.02-0.1%;

2.3 Land or buildings used for residential purposes other than 2.1 and 2.2, the current tax rate is 0.02-0.1%;

3. Uses other than items 1 and 2 (commercial and industrial), the current tax rate is 0.3-0.7%.

4. Land or buildings left empty or not used as appropriate to the current tax rate 0.3-0.7%.

      The new land appraisal price will serve as the basis for paying housing ownership fees as well as the calculation base for the 2019 land and building tax. Tax exemption will be granted in the case of agricultural or residential areas worth less than 50 million baht. Many landowners own multiple homes, and tenants on state property must pay taxes.