FRIDAY, April 19, 2024
nationthailand

Agricultural land care business sprouts as property owners are faced with higher tax

Agricultural land care business sprouts as property owners are faced with higher tax

Many land owners have decided to use their land to grow crops so they won’t have to pay property tax.

Owners of unused or abandoned land must pay tax of 0.3 per cent of the property’s value, while land used for agriculture is taxed at only 0.01 per cent.

Local administrations can determine whether a land has been abandoned in line with finance and interior ministry regulations.

Faced with having to pay increased tax this year, land owners are turning to agricultural land care businesses for relief.

One such business is Beaverteam.

Managing director Boonchoo Phromson said that apart from growing crops, the company provides a mowing service at THB3,000 per rai.

He pointed out that owners of landlocked properties are affected by the tax the most as these properties cannot be used to grow crops.

Boonchoo said many owners have contacted his company to grow crops on their land, such as Pruksa Real Estate, Thai Life Insurance and Landmark Garden Service.

Meanwhile, the Udon Thani Chamber of Commerce has submitted a letter to the provincial governor, asking the government to reduce property tax by 90 per cent for another two years.

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