Property taxes in Thailand are called “land and house tax.” The tax is based on the value of the land and any improvements, such as buildings, that are located on the property. The tax rate varies depending on the location and value of the property.
In general, the land and house tax rate in Thailand is between 0.1% and 0.3% of the value of the property. The value of the property is determined by the local government and is based on the location and size of the property, as well as any improvements that have been made to the property.
In addition to the land and house tax, property owners in Thailand may also be required to pay other taxes and fees, such as a transfer fee when the property is sold and an annual maintenance fee for any common areas or facilities. It’s also important to note that foreign nationals are not allowed to own land in Thailand, but they can own condominium units or lease land for a specific period of time.
In Thailand, land and house tax is typically paid annually. The tax is due on January 1st of each year and must be paid by March 31st of the same year. Property owners can pay the tax at any branch of the Government Savings Bank or at a local tax office.
If the tax is not paid by the deadline, the property owner may be subject to additional fees and penalties. It’s important for property owners to keep track of their tax obligations and pay the tax on time to avoid any issues with the local government.
If you have any questions about your land and house tax obligations in Thailand, it’s a good idea to speak with a local tax professional or contact the local tax office for more information.