What is the standard land value and how is it determined?
The standard land value helps in the valuation of land or building land. It corresponds to the average price of land per square meter of land area in the region. The value is determined at least every two years by the local appraisal committees. Officially summarized purchase prices of land in a municipality serve as the basis for calculation. For this purpose, notaries provide the committees with copies of all notarized purchase agreements. The standard land value also takes into account the development status of the land location. This includes, for example, infrastructure in the community, soil conditions, and development opportunities.
What is the significance of the standard land value?
The standard land value is influenced by various factors that indicate the attractiveness and popularity of a district or municipality. If, for example, the infrastructure is poorly developed, there are no local transport links or there is a landfill site in the immediate vicinity, the standard land value falls. The same applies to land that cannot be built on. Thus, it helps significantly in determining the value.
Since the annual property tax is largely based on the standard land value, the ratio also serves as a tax assessment basis for the tax office. Thus, the value plays an important role especially in questions concerning gift, land acquisition and inheritance tax.
Standard land value for more transparency on the real estate market
The standard land value is therefore relevant both for owners who are selling an undeveloped or developed plot of land and for heirs who want to know the property value and the tax burden. However, take into account that the standard ground value is not binding and only serves as an orientation. You can view the data free of charge at the cadastral, survey or building office or on the website of your municipality. You can obtain a copy for a small expense fee.
Do you have any further questions about standard ground value or any other real estate topic? We at WEISS IMMOBILIEN are happy to assist you with our expertise and our wide range of services. Please feel free to contact us for a non-binding consultation.
