How to Find the Assessed Value of a Property?

[KhaoYai]

I have been told that the Land Office will not normally disclose THEIR valuation of a property.  Does anyone know any method of obtaining this?

[bradiston]

You might try here

 

http://dolwms.dol.go.th/

 

It allows you to search for any piece of registered land in Thailand. If you can locate the exact plot (you can enter the chanote, or other details to find it, or just double stab where you think it is) a pop up will display a whole host of details, including the assessed talang wah price. It's a bit hit and miss, but with persistence you should get what you're looking for. Maybe! YMMV.

[AJBangkok]

The problem is that the land office has a severely discounted valuation for properties. I bought a condo last year and the value in their books was around 50% of the actual transaction price. Similarly a house we bought a few years ago they only valued the land and it was less than 10% of the actual cost of the house. 

[bradiston]

1 minute ago, AJBangkok said:

The problem is that the land office has a severely discounted valuation for properties. I bought a condo last year and the value in their books was around 50% of the actual transaction price. Similarly a house we bought a few years ago they only valued the land and it was less than 10% of the actual cost of the house. 

Agreed, but I think it's what the op asked for. I believe it can be useful in disputes over valuations where one party is trying to bring, for instance, a "right to buy" action, eg for access. The court will try and arrive at an equitable valuation, using probably the land office's as the lowest, and the current market value as the highest.

[xylophone]

16 hours ago, KhaoYai said:

I have been told that the Land Office will not normally disclose THEIR valuation of a property.  Does anyone know any method of obtaining this?

Your lawyer could possibly get it for you?

[KhaoYai]

1 hour ago, AJBangkok said:

The problem is that the land office has a severely discounted valuation for properties. I bought a condo last year and the value in their books was around 50% of the actual transaction price. Similarly a house we bought a few years ago they only valued the land and it was less than 10% of the actual cost of the house. 

In some circumstances - as in paying tax on transfer, that is a good thing.

[Peterphuket]

An condo, I bought about 6 years ago for 2.3 million thb, recently I sold for  1.85 miilion, but the land office don't care and taxed it for 2.3 million, that's my experience.

[LukKrueng]

On 12/31/2020 at 12:39 AM, KhaoYai said:

I have been told that the Land Office will not normally disclose THEIR valuation of a property.  Does anyone know any method of obtaining this?

 

22 hours ago, xylophone said:

Your lawyer could possibly get it for you?

No need for a lawyer. This is public information. All you need is a copy of the title deed (the serial number is good enough) and they'll calculate the value of the land. The valuation is not per the whole plot. It goes by sqr wa. For example: if the plot is 200x100 meters, and the 100m side is along a road - the first few meters into the land are valuation at a higher rate. 

You can also ask to see the valuation booklet and copy it. You'll see that there are different zones with different price valuation

[LukKrueng]

23 hours ago, AJBangkok said:

The problem is that the land office has a severely discounted valuation for properties. I bought a condo last year and the value in their books was around 50% of the actual transaction price. Similarly a house we bought a few years ago they only valued the land and it was less than 10% of the actual cost of the house. 

In my experience the official valuation of condo units is about 10-15% lower than actual market prices. As for plots of land - they evaluate only the land not what's on it. For example - if there are 2 plots one next to the other, same size, 1 has a mature plantation and the other 1 has nothing on it - the official valuation will be the same, however the market price for the plantation will be higher. 

As for how current the valuation is, I'm not sure if it's the same all over Thailand, but at least in some areas they issue new valuation once every 5 years

[KhaoYai]

23 hours ago, Peterphuket said:

An condo, I bought about 6 years ago for 2.3 million thb, recently I sold for  1.85 miilion, but the land office don't care and taxed it for 2.3 million, that's my experience.

Maybe they updated their vaulation based on your previous purchase?