Treasury to narrow gap between land appraisal and market prices

29 Jun 2026, 05:19 ICT·10w ago

The Treasury Department plans to adjust official land appraisal prices to be closer to market values, reducing the gap from 30-40% below market to 20-25% below. This will increase annual land and building taxes and transfer fees for land owners and buyers, effective January 1, 2027.

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• land appraisal
• property tax
• land transfer fee
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