Approving the issuance of land price adjustment coefficients in the province in 2024

At the 21st session (special session) held on March 22, the 11th Provincial People's Council resolved to approve the issuance of land price adjustment coefficients in the province in 2024 at the request of the Provincial People's Committee in Document No. 737/TTr-UBND dated March 5, 2024.

Specifically, the land price adjustment coefficient in the province in 2024 applies to the following subjects according to current legal regulations: Determining land prices for land plots and land areas in the cases specified in points a, b, c and d, Clause 4, Article 5 of Decree No. 44/2014/ND-CP dated May 15, 2014 of the Government, as amended and supplemented in Clause 3, Article 1 of Decree No. 12/2024/ND-CP dated February 5, 2024 of the Government; Determining the starting price for auctioning land use rights when the State allocates land with land use fees collected, leases land with one-time land rent collected for the entire lease term, and the land plot or land area of the project (calculated according to the land price in the land price list) is less than 20 billion VND (except for the case where the land plot or land area for auction is located in an urban area, traffic hub, or concentrated residential area with advantages and profit-making potential, implemented according to the guidance of the Ministry of Finance); Determining the amount of illegal profits obtained from committing administrative violations in the land sector according to the provisions of Article 7 of Decree No. 91/2019/ND-CP dated November 19, 2019 of the Government on sanctioning administrative violations in the land sector; Other cases where the law stipulates the application of the land price adjustment coefficient prescribed annually by the Provincial People's Committee to determine the financial obligations to be paid.

a-corner-of-the-residential-area-project-south-of-le-duan-anh-n.-lan-14-.jpg — *A corner of Phan Thiet City (photo by N. Lan).*

Accordingly, the increase in the land price adjustment coefficient in 2024 compared to 2023 is determined as the common market land price of each type of land, the location of the route corresponding to the land price list prescribed by the Provincial People's Committee of the districts, La Gi town as well as Phan Thiet city. There are both increases and decreases or no changes and the land price adjustment coefficient in 2024 compared to the land price adjustment coefficient in 2023. Specifically, for the group of agricultural land, land for wet rice cultivation compared to 2023, the land price adjustment coefficient decreased from 1% to 5% (Duc Linh), increased from 1% to 36% (Ham Thuan Nam has a location that increased up to 36%). The remaining annual crop land, aquaculture land, the land price adjustment coefficient decreased from 1% to 4% (Ham Thuan Nam), increased from 1% to 43% (Ham Thuan Nam has a location that increased up to 43%); Ham Tan and Phu Quy remain unchanged. Land for perennial crops has a land price adjustment coefficient that decreases from 1% to 2%, increases from 1% to 29% (Ham Thuan Nam has locations that increase up to 29%); Ham Tan and Phu Quy remain unchanged. Land for salt production has a land price adjustment coefficient that decreases by 2%, increases by 3% to 21% (Tuy Phong has locations that increase up to 21%), Ham Thuan Nam remains unchanged. Forestry land has no transactions, so the Provincial People's Committee submitted to the Provincial People's Council the land price adjustment coefficient in 2024 equal to the land price adjustment coefficient in 2023.

For non-agricultural land, rural residential land in area 1, the land price adjustment coefficient decreases from 1% to 33% (Ham Tan has a location that decreases up to 33%), increases from 1% to 50% (Ham Thuan Bac has a location that increases up to 50%); rural residential land in area 2, the land price adjustment coefficient decreases from 1% to 44% (Ham Tan has a location that decreases up to 44%), increases from 1% to 56% (Tanh Linh has a location that increases up to 56%). Rural residential land in area 3, the land price adjustment coefficient decreases from 1% to 33% (Ham Tan has a location that decreases up to 33%), increases from 1% to 54% (Tanh Linh has a location that decreases up to 54%). Rural residential land on traffic routes, residential areas in communes, the land price adjustment coefficient increases from 1% to 15% in Phan Thiet City. Rural land along main traffic routes, land price adjustment coefficient decreased from 1% to 24% (Ham Tan, Phu Quy has locations decreased up to 24%), increased from 1% to 95% (Phu Quy has locations increased up to 95%). Urban land in the areas (except Phu Quy), land price adjustment coefficient decreased from 1% to 46% (Tan Nghia town, Ham Tan district has locations decreased up to 46%), increased from 1% to 133% (Tan Nghia town, Ham Tan district has locations increased up to 133%).

As for land used for commercial and tourism purposes, during the process of extracting and surveying locally, due to the very limited transfer transactions of land used for commercial and tourism purposes in 2023, there is not enough transaction information to determine the common land price for commercial and service land, so there is not enough basis to implement the adjustment coefficient method to propose the land price adjustment coefficient of this land type in 2024. Therefore, the Department of Finance and related units propose the land price adjustment coefficient in 2024 using the surplus method: Compared to 2023, the land price adjustment coefficient increases from 10% to 47%; Ham Thuan Bac, Tanh Linh remain unchanged...

It is known that at the meeting, after passing this resolution, the Provincial People's Council assigned the Provincial People's Committee to issue specific regulations on land price adjustment coefficients in the province in 2024 and organize implementation in accordance with the provisions of law.

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