Vietnam: Guidelines for determining the remaining value of property pertaining to land when the State expropriates land

This is one of the contents of Circular No. 80/2017/TT-BTC dated August 02, 2017 of the Ministry of Finance of Vietnam guiding the determination of the value of land use rights, land rental, remaining value of the property pertaining to land to refund when the State expropriates land.

Specifically, provincial People's Committees shall consider each circumstance to make a decision on returning the remaining value of property pertaining to land to land users having their land expropriated due to violations against regulations on land mentioned in Points c and g Clause 1 Article 64 of the Land Law.

The determination of the remaining value of property pertaining to land to return to property owners mentioned in Clause 1 this Article shall be carried out from the time the State expropriates land.

The remaining value of property pertaining to land means the total remaining value of each piece of property pertaining to land. The remaining value of each piece of property pertaining to land shall be determined as follows:

- The remaining value of plants or domestic animals shall be equivalent to the compensation for plants and animals specified in Article 90 of the Land Law;

- The remaining value of houses, buildings or other construction works pertaining to land (hereinafter referred to as "construction works pertaining to land”) shall be determined as follows:

In which:

- Rate (%) of the remaining quality of the construction work pertaining to land shall be determined as follows:

- The new construction price of the construction work pertaining to land shall be determined as follows:

If the construction work pertaining to land is expropriated partially and the remainder is not longer used, the value of refund shall be equivalent to the remaining value of the entire construction work pertaining to land; if the construction work pertaining to land is expropriated partially but the remainder is still available to use, the value of refund shall be equivalent to the value of the construction work pertaining to land expropriated and costs of repairing and completing the remainder under corresponding specifications of the construction work pertaining to land before it is demolished.

In the case where the construction work pertaining to land fails to meet requirements for specifications issued by ministries in charge or has not included in specific regulations of local authority, the provincial People’s Committee shall assign a relevant law enforcement authority to determine the remaining value of the construction work pertaining to land in accordance with regulations of law and actual conditions of the province.

Circular No. 80/2017/TT-BTC of the Ministry of Finance of Vietnam takes effect from September 15, 2017.

Source: Kiem sat Online

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