Government to Develop New Valuation of Land

Photo: ERR
11/7/2013 2:07 PM
Category: Economy

The Land Board is currently working out a methodology in order to carry out a new valuation of Estonia’s land, as the government’s last appraisal took place in 2001.

To show the vast price increases that have taken place in recent years, Minister of Agriculture Helir-Valdor Seeder pointed out that the going rate for agricultural land in 2009 was 800 euros per hectare, compared with 1,300 euros per hectare in 2012, reported ERR radio.

But whether the increased value would reflect higher land tax rates is a political question, said Seeder.

"My message today is not that we will implement higher land tax rates. Perhaps one reason valuation has not been carried out recently is precisely the fact that there was no desire to raise the land tax,” Seeder said.

"I believe it should at least be clarified what the land’s real value is according to the appraisal," he said.


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