This Decision takes effect from February 01, 2023; replacing Decision No. 01/2022/QD-UBND dated January 06, 2022 of the Binh Duong PPC on regulations on land price adjustment coefficient (K) in 2022 in Binh Duong province and annulling Decision No. 1464/QD-UBND dated June 20, 2022 of the Binh Duong PPC on correction of the legal basis in Decision No. 01/2022/QD-UBND dated January 06, 2022 of the PPC on determining the land price adjustment coefficient in 2022 in Binh Duong province.

It is applied to agencies performing the function of State management of land, agencies with the function of determining specific land prices; economic organizations, overseas Vietnamese, foreign-invested enterprises, households and individuals permitted by the State to change land use purposes, allocate or lease land collect land use fees and land lease; agencies, organizations, units that manage and use public property and other related organizations and individuals.

Cases of application: When determining the value of a land plot or land area with a value of less than 20 billion VND (calculated according to the land price in the land price list), the land price adjustment coefficient shall be applied. Land lease amount collects annual fees but must redefine the land lease unit price to adjust for the next cycle. Determining the starting price for auctioning land use rights when the State leases land with annual land lease payment. Determining the value of land use rights to calculate the asset value of agencies, organizations and units that manage and use public property.

The land price adjustment coefficient in 2023 increases compared to 2022, but there are 3 localities that remain the same as in 2022, including: Thu Dau Mot City, Tan Uyen Town, Bac Tan Uyen District.

Principles of land price determination according to land price adjustment coefficient:

Calculation of additional coefficients: Land plot or land area with land use coefficient below 4.0 times or without clearly defined land use coefficient: The land price adjustment coefficients specified in this Decision shall be applied. Land plot or land area with land use coefficient from 4.0 to less than 6.0 times: The land price adjustment coefficient is calculated to increase by 5% compared to the land price adjustment coefficient specified in this Decision. Land plot or land area with land use coefficient from 6.0 to less than 8.0 times: The land price adjustment coefficient is calculated to increase by 10% compared to the land price adjustment coefficient specified in this Decision. Land plot or land area with land use coefficient from 8.0 to less than 10.0 times: The land price adjustment coefficient is calculated to increase by 15% compared to the land price adjustment coefficient specified in this Decision. Land plot or land area with land use coefficient from 10.0 to less than 11.5 times: The land price adjustment coefficient is calculated to increase by 20% compared to the land price adjustment coefficient specified in this Decision. Land plot or land area with land use coefficient from 11.5 to less than 13.0 times: The land price adjustment coefficient is calculated to increase by 25% compared to the land price adjustment coefficient specified in this Decision. Land plot or land area with land use coefficient of 13.0 or more: The land price adjustment coefficient is calculated to increase by 30% compared to the land price adjustment coefficient specified in this Decision.

Reported by Yen Nhi- Translated by Thanh Tam