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Henryford

New Condo Tax - House and Land Tax Act

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Posted (edited)

I got an assessment letter from City Hall today (in thai) confirming there will be tax assessments on Condos from 1.1.2020. I couldn't follow the letter and looking it up on the web seemed equally confusing. Looks like there will be some new tax payable based on the condo's size/value. The web quotes a figure of 0.02% for under 40 million. Does this mean if your condo is worth 5 million baht the tax is 1000 baht? Anyone know what the real tax rates will be, 1000 seems too low. And it is payable in August 2020.

Edited by Henryford

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I always thought the tax only applied to unoccupied or rented out, and then only if they know about it. if applicable it would be on the assessed value which is often way less than what the owner thinks its worth.

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Posted (edited)

I've had letter recently trying to correct some measurement details on a chanoot which i suspect is connected though one would think this might be a property tax (so 1000bt could easily be right) based on the assessed value 

Edited by cheeryble

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Yes the revised tax laws on all land, structures, houses, condos etc come into effect this year. Supposedly was to be in January but the appraisals were not ready in time, therefore most assessments were to go out by end OF May (ALTHOUGH WITH THE CURRENT VIRUS PROBLEMS THIS MAY BE DELAYED AGAIN) and paid in August.

So every property has an appraisal price and the tax is calculated on this price. 

Just google  'Thailand New Tax rates'  and you'll see many sites (in English and Thai) setting out the new rate %'s.

There you have it.

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Posted (edited)

Text deleted as thainet seems to have answered all the questions I wanted to pose in my post.  Thanks for that, thainet!

 

Regards

 

P

Edited by Pferdlkrantz
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On 3/27/2020 at 12:31 PM, Pferdlkrantz said:

Text deleted as thainet seems to have answered all the questions I wanted to pose in my post.  Thanks for that, thainet!

 

Regards

 

P

My girlfriend, bless her cotton socks, was kind enough to take the letter I photo'd and translated it through Google Translate.  I append a pdf of the text for information, also a picture of the letter that I received. 

There were the following documents contained in the envelope:

1.  The letter in Thai

2.  A second page that describes the property, what it is, whee it is and the size.

3.  Clipped to them was a yellow card with red writing on it.  Couldn't use photo and GT to find out what it was because of the contrast issue.

My take is that the card is only to be used if you have objections to the assessment.  I base this on line 9 of the body text and assume, then, that the card need not be sent and the default of 30 days (line 12) of the body text.   Please feel free to correct me if you think I'm wrong.

 

Regards

 

P

land Tax letter in Thai.jpg

Land Tax.pdf

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