Appraised value

The official appraised value is the government-assessed value of land, buildings or condominium units in Thailand. It is determined by the Treasury Department in accordance with the Land Code and is used as the basis for calculating various taxes, fees and duties, including Land and Buildings Tax and the minimum registration fees and taxes payable on property transfers. Appraised values are generally revised every four years to reflect changes in market conditions, although the effective valuation period may be extended by law or Royal Decree.

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