{"id":25353,"date":"2016-09-07T18:19:10","date_gmt":"2016-09-07T11:19:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/properties-near-bangkok-infrastructure-projects-face-levy\/"},"modified":"2016-09-07T18:31:59","modified_gmt":"2016-09-07T11:31:59","slug":"properties-near-bangkok-infrastructure-projects-face-levy","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/properties-near-bangkok-infrastructure-projects-face-levy\/","title":{"rendered":"Properties near Bangkok infrastructure projects face levy"},"content":{"rendered":"


\nAppreciating land values near key projects may mean much-needed income for the Thai government
\nBridge under construction over the Chao Phraya River in Bangkok, Thailand. travellight \/ Shutterstock
\nReal estate developers will not be the only ones benefiting from the establishment of rapid transit lines across Bangkok in the near future. Apparently, the Thailand government\u2019s coffers will too.
\nProperty owners who are selling or transferring assets whose value have been boosted by nearby infrastructure projects will be slapped with land development taxes, Bangkok Post reports, citing an anonymous source.
\nMore: Land prices to rise with Bangkok\u2019s new mass transit lines
\nThe Thai government is expected to levy the tax only once, at the stage when owners sell or transfer the property. Although the tax is not retroactive, it will be imposed on the difference between the property\u2019s appraisal value before and after the completion of the infrastructure projects.
\nThe source revealed to the Post that Finance Minister Apisak Tantivorawong had asked the Fiscal Policy Office to expedite the drafting of the land development tax, also known as betterment tax, in line with the government\u2019s eight-year campaign of constructing large-scale infrastructure projects.
\nSeveral mass transit lines are in the pipeline for the Thai capital until 2020. The developments are expected to diversify growth in the metropolis and \u201cboost new developments in the outskirts,\u201d Transport Minister Arkhom Termpittayapaisith said in August.
\nRead next: Will the next successful smart city be in Southeast Asia?
\n
\nSource : property-report.com
\nRead more…Properties near Bangkok infrastructure projects face levy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Appreciating land values near key projects may mean much-needed income for the Thai government Bridge...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-25353","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6AV","jetpack-related-posts":[{"id":28791,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bangkok-real-estate-is-on-the-right-track-with-new-rapid-transit-line\/","url_meta":{"origin":25353,"position":0},"title":"Bangkok real estate is on the right track with new rapid transit line","date":"October 6, 2016","format":false,"excerpt":"\r Thousands of units to emerge along future Orange Line Dusk over Rama IX bridge in Bangkok. 24Novembers \/ Shutterstock.com A new growth area is shaping up in Bangkok as the Thai government prepares to receive bidders for a new rapid transit line next year. 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