Taichung land values to increase 1.48%REPORT: The land values for the city’s 29 administrative districts would be mostly flat or slightly raised next year, except for Beitun District, which would see an increase of 7.12%By Chen Cheng-hui / Staff reporterGovernment-assessed land values in Taichung would increase annually by an average of 1.48 percent next year, with the value of Shin Kong Mitsukoshi Department Store’s (新光三越百貨) in Xitun District (西屯) remaining the highest in the city for the 15th consecutive year, the Taichung Land Administration Bureau said. Based on the bureau’s statement, the government-assessed land values for the city’s 29 administrative districts would be mostly flat or slightly higher next year from this year, with value adjustments ranging from 0.05 percent to 1.68 percent. Following the value adjustments next year, the government-accessed land value in Taichung would reach 90.34 percent of the market value, the bureau’s director-general Wu Tsun-chin (吳存金) said in the statement. In Taipei, Taipei 101 has the highest land value for the eighth consecutive year, at NT$1.83 million per square meter, or NT$6.07 million per ping, the Taipei City Government’s Department of Land Administration reported. Land value data are important because capital gains levies on property transactions — the land value increment tax — are based on assessed values rather than sale prices, while the data are also used to determine compensation in cases where private land is expropriated by the government for public use.

Source: Taipei Times December 20, 2020 15:56 UTC