On the morning of October 22, the Ho Chi Minh City People's Committee officially issued Decision 79 on amending and supplementing Decision No. 02/2020 of the City People's Committee regulating land price list in Ho Chi Minh City.
According to the assessment of the Department of Natural Resources and Environment of Ho Chi Minh City, if the land price list according to Decision 02/2020 is about 30% of the market price in Ho Chi Minh City, the newly adjusted land price list will be about 50%.
Dien Bien Phu Street (Binh Thanh District).
In the new land price list, the highest residential land price is 687 million VND/m2 on the streets in the city center such as Nguyen Hue, Dong Khoi, Le Loi. Compared to the old land price, the new price increases by 120 million VND/m2 (about 21%). This price is lower than the previous draft price list of 810 million VND/m2.
Ham Nghi Street (District 1) has a price of 429 million VND/m2, an increase of about 4 times compared to the price according to Decision 02/2020 of 101 million VND/m2. Nguyen Huu Canh Street (from Ton Duc Thang Street to Nguyen Binh Khiem Street) has a price of 368.9 million VND/m2, an increase of more than 4 times compared to the price in the land price list according to Decision 02/2020 of 79.2 million VND. Hai Ba Trung Street has a price of 350 - 450 million VND/m2, depending on the section, while the price in the land price list according to Decision 02/2020 is from 58-96 million VND/m2.
Commercial land prices, services, production and business... have also been adjusted down significantly compared to the draft price list.
Agricultural land prices are adjusted by multiplying the agricultural land price according to Decision 02/2020 by (x) a coefficient of 2.5 - 2.7. Therefore, agricultural land prices have increased slightly compared to the old price.
Previously, in early July 2024, the City People's Committee assigned the Department of Natural Resources and Environment to develop an adjusted land price list according to simplified procedures. By July 30, the Department of Natural Resources and Environment had submitted the adjusted land price list to the City Land Price List Appraisal Council.
However, at that time, the adjusted land price list received many mixed opinions from the people. Most people thought that the land price increase was too high, which would lead to an increase in taxes and fees when people carry out administrative procedures related to land.
After receiving many comments and adjusting the land price accordingly, on October 14, the Department of Natural Resources and Environment resubmitted the land price list to the City Land Price Appraisal Council. In the appraisal report, the council agreed with the proposal of the Department of Natural Resources and Environment.
According to the Department of Natural Resources and Environment of the city, the old land price list is used as the basis for calculating taxes and land use fees for 6 cases. Meanwhile, according to the 2024 Land Law, the adjusted land price list applies to 12 land use cases. Of which, 5 cases continue to be applied similarly to before and 7 cases are completely new.
Specifically, the 7 completely new cases of application are: Calculating annual land rent; calculating land use fees, one-time land rent when recognized or leased by the State; calculating income tax from land use right transfer; calculating starting price for auction; calculating tax when the State allocates land without auction; calculating land use fees when the State sells houses to current tenants; determining resettlement land prices.
Regarding the impact of the adjusted land price list on calculating land use fees for households and individuals when the State recognizes land use rights, the Department of Natural Resources and Environment said that the collection level and collection rate will be based on the time of land use according to the new land law and related decrees.
Regarding the impact on calculating income tax from land use rights transfer for households and individuals, according to the Department of Natural Resources and Environment, this is consistent with the actual situation and land price level in the city.
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