Development of land valuation system
Tomic, Hrvoje ... [et al.]
Land has always played a crucial role in life of human community. Difference in position, fertility or natural resources make some locations and land parcels more desirable than the others. System of land valuation provides control of real estate market and can also be used for both transaction and ownership taxation. Taxation of land has many benefits. Properly calculated tax rate helps efficient use of land. Best land locations must be available to users who can make the best use of land and maximize its benefits. According to current law, transaction taxes on market of real estate in Croatia are calculated from market value. However, market value is calculated from the value of transaction, not from valuation. Some kind of land valuation system in Croatia would be a great tool for better planning and decision making on land use. Land valuation is a process of assigning values to land locations. In order to perform a land valuation, many objective and subjective valuation factors must be considered and modelled. Especially for agricultural areas the physical factors are of crucial importance and have the strongest influence in their market value. In order to test some premises regarding land valuation, a DTM for whole territory of Croatia was loaded into a spatial database and some physical factors were calculated offline and stored together with it. With that, prototype system with basic functionality was developed. Already in this phase its functioning can significantly improve current procedures in land taxation, with a possibility of further extension.
Event: XXIII International FIG Congress : Shaping the change
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