The Ministry of Finance of Thailand announced that the government has started collecting land tax. The collection will begin in April 2022.
Prior to that, since 2020, the kingdom had a 90% discount on real estate tax as a relief measure during COVID-19. At the beginning of 2022, it was announced that its validity would not be extended. By reducing the tax, the state lost about 35 billion baht of income in 2 years.
The tax is based on the assessed value of the property. The rates depend on the type of property. They are presented in more detail in the table.
| Type of real estate | Estimated value of real estate, baht | Tax rate, % |
|---|---|---|
| Agricultural land | 0–75 | 0,01 |
| 75–100 | 0,03 | |
| 100–500 | 0,05 | |
| 500–1000 | 0,07 | |
| >1000 | 0,1 | |
| Residential real estate | 0–25 | 0,03 |
| 25–50 | 0,05 | |
| >50 | 0,1 | |
| Commercial, industrial, etc. | 0–50 | 0,3 |
| 50–200 | 0,4 | |
| 200–1000 | 0,5 | |
| 1000–5000 | 0,6 | |
| >5000 | 0,7 |
Unused land will be subject to an additional tax of 0.3% of its assessed value every three years, while the total tax rate should not exceed 3%. This measure was taken in order to encourage people to use their property or sell it.