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Taipei City Government Will Review and Propose Reasonable Land Rent Adjustment Mechanism in Response to the Increased Announced Land Value

This clarification was made by the Department of Finance of Taipei City Government (TCG) in answering city counselors' question that the rent of city-owned lands would be increased by 40%. According to the conclusion of the "Meeting on Improving the Operation of Reassessing Land Value and Evaluating 2016 Current Land Value" called by Ministry of the Interior on August 28th, 2015, the local governments should declare the land value which is increased by the ratio no lower than the accumulated rate from 2014 to 2016.To coordinate with the principle, the Department of Land of TCG summited the assessment to the city's Land Evaluation Committee, presenting that the average increase of announced land value was 30.38% in 2016.


Taipei City had higher announced land value compared to other administration areas; in addition, the recent economic turndown and unexpected increase in announced land value imposed greater land rent burdens on owners of superficies. As reported that the land rent would be adjusted in accordance to announced land value, investors' incentive to join city's public infrastructure developments was greatly affected due to the financial unpredictability.


To facilitate investors' financial evaluations and reduce their financial risks due to significant increase in announced land value, TCG will review and propose amendments to "The Implementation Directions of the Creation of Superficies of City-Owned Land", and set appropriate land rent adjustment mechanism by June, 2016.