Annex A. The valuation of immovable property
Table A A.1. Assessment and valuation of immovable property, selection of OECD countries | ||||||||
---|---|---|---|---|---|---|---|---|
Country | Coverage | Assessment and valuation | ||||||
Scope | Main purpose | Other types of property taxed | Valuation method | Frequency of market value updates | Last market value update | Other updating methods | Responsibility for tax base setting | |
BEL | Land and buildings | Residential and business | Undeveloped land, agricultural land | Income method | Every ten years | 1975 | Consumer price index | Federal and regional government |
CHL | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices, cost method and income method | 2009/2014 | Federal government | ||
CZE | Land and buildings | Residential and business | Undeveloped land, agricultural land | Area-based assessment | National government | |||
DEU | Land and buildings | Residential and business | 1935/1964 | Index | National government | |||
DNK | Land only | Residential and business | Undeveloped land, agricultural land | Sales prices | Bi-annually | 2011 On-going reform | National government | |
ESP | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices | Various indices | National government | ||
EST | Land only, all types of land | Residential and business | Undeveloped land, agricultural land | Sales prices | 2001 | National government | ||
FIN | Land and buildings | Residential and business | Undeveloped | Sales prices for land, cost method for buildings | Every five years | Construction price index | National government | |
FRA | Land and buildings | Residential and business | Undeveloped land Agricultural land | Rental value | - | 1961 and 1970 (2017 for business premises) | - | National government |
GBR | Land and buildings | Residential and business | None | Sales prices | 1991 | National government | ||
HUN | Land and buildings | Residential and business | Undeveloped | Sales prices | Annually | National government | ||
IRL | Buildings only | Residential and business | None | Sales prices | National government | |||
ISR | Land and buildings | Residential and business | Agriculture | Area-based assessment | Consumer price index | |||
ITA | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices and cost method | National government | |||
JPN | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices and cost method | Every three years | 2012 | National government | |
KOR | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices | Annually | National government | ||
LUX | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices | No update | National government | ||
MEX | Land and buildings | Residential and business | Undeveloped land, | Sales prices | Annually | 2014 | ||
NLD | Buildings only | Residential and business | Undeveloped land | Sales prices (and other methods for business property) | Annually | 2014 | National government | |
NOR | Land and buildings | Residential and business | Undeveloped | Sales prices | Every ten years | House price index | National government | |
NZL | Land and buildings | Sales prices | Varies | Local government | ||||
POL | Land and buildings | Residential and business | Undeveloped land, agricultural land | Area-based (residential) income method (business) | ||||
PRT | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices | Every three years | National government | ||
SVK | Land and buildings | Residential and business | Undeveloped land, agricultural land | Value for land and area-based assessment for buildings | National government | |||
SVN | Land and buildings | Residential and business | None | Value | Ongoing reform | Local government | ||
SWE | Land and buildings | Residential and business | None | Sales prices | Income base accounts | National government | ||
TUR | Land and buildings | Residential and business, except owner-occupied | Undeveloped land, agricultural land | Sales prices for land, cost method for buildings | Every four years | GDP inflator | ||
USA (e.g. Philadelphia) | Land and buildings | Residential and business | Undeveloped land, agricultural land | Sales prices, cost method and income method, depending on type of property | Annually | 2013 | State and local government | |
Source: OECD update based on Blöchliger, H. (2015[1]), Reforming the Tax on Immovable Property: Taking Care of the Unloved, https://doi.org/10.1787/5js30tw0n7kg-en. |
Reference
[1] Blöchliger, H. (2015), Reforming the Tax on Immovable Property: Taking Care of the Unloved, https://doi.org/10.1787/5js30tw0n7kg-en.
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