Property Tax

[bronze]

Can anyone tell me what percentage of property tax (based on the purchase price) I should pay per year in Thailand?

Thank you.

[lopburi3]

There is no such tax for normal residential property.

[bronze]

There is no such tax for normal residential property.

<{POST_SNAPBACK}>

Oh, really? that sounds too good to be true.

Thank you for sharing the info, lopburi3.

[bronze]

There is no such tax for normal residential property.

<{POST_SNAPBACK}>

Does this mean that I don't need to pay any tax once I buy a condo unless I sell it

with profit other than monthly condo maintenance fee and utilities etc?

[lopburi3]

You will have to pay tax when you buy property and each time it is sold there will be tax to pay (currently believe about 4%) but there is no yearly tax yet.

So you would have to pay the normal utilities and condo fees and they could probably include special assessments so a good due diligence investigation would be in order prior to any purchase.

[sbk]

Is that just residential then? My father-in-law owns quite a bit of land and I am sure he pays tax on it every year, but most of it is coconut land. Does that make a difference?

[lopburi3]

There is yearly tax on shop house type places and believe over 200 wah (but I could be wrong on that). There has been talk of land tax in last few years but think it was aimed at idle land more than farmers.

One thing is that many people use land they do not own so pay a yearly fee - but that is not a tax.

Am sure someone will have details?

((below link is probably the most reliable on quick Google - page down to property tax))

LINK

Edited October 10, 2005 by lopburi3

[Nordlys]

There might be a property tax if you rent out your residential property and earn income from it. My wife was once asked to pay property tax on her townhouse by amphor and all it took her was to tell them she lives there herself and they didn't bother anymore.

[cmsally]

We pay 1,000Bt land tax to Tesabahn every year (but I'd have to check papers as it might actually be called something else). We have other land outside tesabahn area that we pay no tax on. Tesabahn is city area only.

[sbk]

His land is most certainly not unused, coconuts all over the darn place which he harvests on a regular basis. Nor is it leased, and it is most definitely his own but I am sure he pays property tax on it.

[Dragonman]

His land is most certainly not unused, coconuts all over the darn place which he harvests on a regular basis. Nor is it leased, and it is most definitely his own  but I am sure he pays property tax on it.

<{POST_SNAPBACK}>

There is a Land Tax, but as normal in Thailand there are no hard and fast rules. There are different rates of taxation depending on city or rural location, and there are large allowances for personal use, animal husbandry and cultivation.In effect nobody tells the finance section for revenue collection and they can't be bothered to chase up such small amounts.

There is of course the normal 12.5% tax for property rentals and commercial property based on Revenue Dept's rental assessment, if you declare it. Reason why leases are normally only 3 years as registration not required.

[sbk]

So, do you suppose that he pays because he owns a fairly substantial amount of land and they have their eye on him? Or could it be that we have a diligent Land office? Or is it just because he's honest? I am curious because he plans to transfer a goodly amount of that land into my husband's name in the near future and presumably we will then be required to take over the tax payments