After an extensive legislative process, the National Legislative
Assembly (NLA) has recently passed the new Land and Building Act
(the "Act) comprising 94 Sections and introducing a new system
on property taxation. With its announcement in the Royal Gazette,
the Act will replace the old and outdated Land and House Tax Act
B.E. 2475 (1932).
The new system on property taxation includes a legal ceiling
rate which depends on the category and the appraised value of the
land; a tax exemption might be granted in specific cases:
- Legal ceiling rate for residences:
0,3 % / tax exemptions for first homes
- Legal ceiling rate for agricultural
land: 0,15 % / tax exemption for agricultural land held by
individuals
