Post by account_disabled on Nov 5, 2023 6:33:21 GMT
There is a problem of the so-called flipping, i.e. the purchase of cheap apartments which, after renovation, can be sold at a very favorable price. This may mean significant profits for investors, but in a broader perspective, the spread of such practices may lead to market imbalance and too rapid price increases. Another challenge is undeveloped vacant buildings. In order to determine the value of the cadastral tax, a real estate valuation should be carried out, which is referred to as a general real estate valuation . This process would certainly require reforming the provisions on property taxation.
Which is associated with high costs. It would also be necessary to implement a tax registration system and philippines photo editor land and building records in order to properly collect receivables. Additionally, such a change could cause great dissatisfaction among the public due to a possible sudden increase in the amount of tax to be paid. Advantages and disadvantages of cadastral tax ADVANTAGES The most frequently heard argument for introducing a cadastral tax is to impose it on the richest citizens or investors. What benefits could come from this? Greater revenues for the budget of local governments, which could be allocated to the development of cities and rational spatial management; Counteracting the phenomenon of speculative bubbles in the real estate market.
Limiting the gray zone in real estate transactions; Development or demolition of currently unused properties after the introduction of cadastral tax, keeping such buildings would be unprofitable for owners ; Revitalization of the real estate market - owners who cannot afford or do not want to pay fees for high-value properties could decide to sell them. In turn, buyers would be able to afford to invest in the purchased property, etc.
Which is associated with high costs. It would also be necessary to implement a tax registration system and philippines photo editor land and building records in order to properly collect receivables. Additionally, such a change could cause great dissatisfaction among the public due to a possible sudden increase in the amount of tax to be paid. Advantages and disadvantages of cadastral tax ADVANTAGES The most frequently heard argument for introducing a cadastral tax is to impose it on the richest citizens or investors. What benefits could come from this? Greater revenues for the budget of local governments, which could be allocated to the development of cities and rational spatial management; Counteracting the phenomenon of speculative bubbles in the real estate market.
Limiting the gray zone in real estate transactions; Development or demolition of currently unused properties after the introduction of cadastral tax, keeping such buildings would be unprofitable for owners ; Revitalization of the real estate market - owners who cannot afford or do not want to pay fees for high-value properties could decide to sell them. In turn, buyers would be able to afford to invest in the purchased property, etc.