Start Date
31-10-2017 10:15 AM
End Date
31-10-2017 11:45 AM
Description
Centre of Registers is a state enterprise which has developed and maintains the mass valuation system of Lithuania. Although, mass valuation system was primarily developed on purpose of real property taxation, a number of ways to use it alternatively came along. Since 2003 (first mass land valuation in Lithuania) and 2005 (first buildings’ mass valuation) the ways of using mass valuation results have been broadening. Firstly, apart from real property tax, mass valuation system is now used for a number of state economic needs – from calculating property registration and notary fees to making decisions on social support or state guaranteed legal assistance. Among other uses, herein, an example will be discussed how mass valuation values has been used to address abandonment of agricultural land in Lithuania. Since 2013 when market value based land tax was introduced abandoned agricultural land areas are taxed at full market value (whereas assessed value of other agricultural land is at 35 percent of market value). Moreover, local authorities set the highest possible tax tariff on abandoned land. The impact of this form of fine on size of abandoned land areas in the country throughout 5 year period will be discussed in more detail. Additionally, many professionals in various fields may benefit from the real property transactions data which initially is collected for the mass valuation system. Since the establishment of real property transactions database in 1998 Centre of Registers has been providing sales data to property professionals either directly or indirectly (through third parties). The ways data are provided and used for institutional and commercial purposes will be discussed. Taking into account the fact that Centre of Registers has recently expended to maintaining 11 state registers (including Population register and Mortgage record register) it may offer even more possibilities to improve breadth of provided data and depth of real property market analyses. Finally, improving public awareness on mass valuation results and real property market in general by providing real property data online is discussed. Centre of Registers uses the regional environment geoinformation service (REGIA), where mass valuation data (values, value zones and taxable values) is available for public use in combination with other municipality information of interest.
Publication Date
October 2017
Recommended Citation
Kliunkienė, Rūta, "Using mass valuation systems for alternative purposes: Lithuanian experience" (2017). International Research Symposium. 12.
https://researchexchange.iaao.org/irs/irs17/sessions/12
Using mass valuation systems for alternative purposes: Lithuanian experience
Centre of Registers is a state enterprise which has developed and maintains the mass valuation system of Lithuania. Although, mass valuation system was primarily developed on purpose of real property taxation, a number of ways to use it alternatively came along. Since 2003 (first mass land valuation in Lithuania) and 2005 (first buildings’ mass valuation) the ways of using mass valuation results have been broadening. Firstly, apart from real property tax, mass valuation system is now used for a number of state economic needs – from calculating property registration and notary fees to making decisions on social support or state guaranteed legal assistance. Among other uses, herein, an example will be discussed how mass valuation values has been used to address abandonment of agricultural land in Lithuania. Since 2013 when market value based land tax was introduced abandoned agricultural land areas are taxed at full market value (whereas assessed value of other agricultural land is at 35 percent of market value). Moreover, local authorities set the highest possible tax tariff on abandoned land. The impact of this form of fine on size of abandoned land areas in the country throughout 5 year period will be discussed in more detail. Additionally, many professionals in various fields may benefit from the real property transactions data which initially is collected for the mass valuation system. Since the establishment of real property transactions database in 1998 Centre of Registers has been providing sales data to property professionals either directly or indirectly (through third parties). The ways data are provided and used for institutional and commercial purposes will be discussed. Taking into account the fact that Centre of Registers has recently expended to maintaining 11 state registers (including Population register and Mortgage record register) it may offer even more possibilities to improve breadth of provided data and depth of real property market analyses. Finally, improving public awareness on mass valuation results and real property market in general by providing real property data online is discussed. Centre of Registers uses the regional environment geoinformation service (REGIA), where mass valuation data (values, value zones and taxable values) is available for public use in combination with other municipality information of interest.