The Provincial People's Council passes a Resolution on promulgating the land price adjustment coefficient (K) to determine land prices to calculate land use fees in the province in 2024.

Published on 08 - 12 - 2023
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On 07/12/2023, at the 18th Session, the 17th Provincial People's Council, passed the Resolution No. 438/NQ-HDND on promulgating the land price adjustment coefficient (K) to determine land prices to calculate land use fees in Hung Yen province in 2024.

Accordingly, the Resolution approves the land price adjustment coefficient (K) to determine land prices to calculate land use fees in Hung Yen province in 2024, the detail is in Appendix I and Appendix II attached to the Resolution.

The land price adjustment coefficient (K) applied to land areas or plots of land (except for the cases specified in Clause 3, Article 1 of the Resolution) has a value calculated according to the land price in the Land Price Table multiplied by the area for calculating land use fees under 20 billion VND in the following cases: Calculate land use fees when the state allocates land to households and individuals without auctioning land use rights; calculate land use fees when the state recognizes land use rights and allows changing land use purposes for residential land areas exceeding the limit of households and individuals; calculate land use fees when the organization is allocated land by the State and collect land use fees not through the auction of land use rights, allow the change of land use purpose; determine the starting price for auctioning land use rights to allocate land with the collection of land use fees.

In case the land area or plot of land to be priced belongs to urban land, an important traffic hub, or a concentrated residential area with advantages and profitability, the land price adjustment coefficient should be adjusted to determine the land price to calculate land use fees. Based on the regulations on decentralization, authorization and functions and tasks, the Provincial People's Committee assigns relevant specialized agencies and localities to survey and propose to increase the land price adjustment coefficient to bring it closer to the actual transfer price on the market (It's guaranteed to be higher than the land price adjustment coefficient specified in the Resolution) for cases of land price determination specified in Clause 2, Article 1 of the Resolution.

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