https://www.fao.org/faolex/results/details/en/c/LEX-FAOC038307

Resource information

Resource Language

English

ISBN / Resource ID

LEX-FAOC038307

Pages

1

License of the resource

Copyright details

© FAO. FAO is committed to making its content freely available and encourages the use, reproduction and dissemination of the text, multimedia and data presented. Except where otherwise indicated, content may be copied, printed and downloaded for private study, research and teaching purposes, and for use in non-commercial products or services, provided that appropriate acknowledgement of FAO as the source and copyright holder is given and that FAO's endorsement of users' views, products or services is not stated or implied in any way.

This Act determines the bases and procedure for the valuation of land. The results of valuations are used in taxation, privatisation, expropriation and land readjustment, and in compensation for unlawfully expropriated land. The object of valuation is a plot of land without the buildings, forest, other vegetation or accessories situated thereon. In an appraisal, the object of the appraisal may be a plot of land together with its essential parts and accessories. Valuations of land are classified as assessments, appraisals and valuations of unlawfully expropriated land. A valuator of land is a person who has been issued a corresponding activity licence pursuant to the procedure established by the Government of the Republic. For assessments, the valuator may also be a public servant whose duties include the valuation of land. The Act consists of 5 Chapters that contain 14 Paragraphs. Chapter 1 is the general part. Chapter 2 regards assessments. Chapter 3 regards appraisals. Chapter 4 regards valuation of unlawfully expropriated land. Chapter 5 lays down the final provisions.

Legislation