HOUSINGBackground
Treasury to narrow land appraisal price gap to market
The Treasury Department plans to adjust official land appraisal prices to be only 20-25% below market value, down from the current 30-40% gap, effective January 1, 2027 through December 31, 2030. The change will increase land transfer fees and annual land/building tax for owners but allow higher loan values when using land as collateral.
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