Why do we need a normative monetary valuation of land? Normative monetary valuation of land is necessary to calculate the amount of land rent; calculation of land tax for land use other than lease; and calculation of the amount of state duty for operations with land plots (purchase and sale, exchange, donation, etc.).
The last time such an assessment in Dnipro city was approved by the decision of the city council in 15.07.2015 No. 4/65 at the level of 306.35 UAH. base cost of 1 sq.m. of lands of the city.
Due to inflation and the annual indexation carried out by the Governmental Geocadastre, as of December 31, 2020, the aforementioned indicator was UAH 581.21.
However, by the decision of 20.05.2020 No. 12/57, the city council put into effect a new normative monetary value of land from 01.01.2021, which amounts to UAH 644.05. base cost of 1 sq.m. land, meaning that it is increased by 10.81%.
Therefore, we draw the attention of all landowners and land users that in order to fill out the declaration on payment for land correctly and reliably in the future, it is necessary to apply the current size of the normative monetary valuation of land when calculating the land tax and rent for land, as well as monitor the indexation of the base cost of 1 sq. .m. lands of our city in order to avoid violations of the tax legislation of Ukraine.
Gennady Silvanovich, the lawyer @ Dynasty Law & Investment