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“The valuation of properties for state needs, also known as mass valuation, is carried out by the Registry Center each year, during which the average market values of the land and buildings are determined. According to property tax and real estate tax laws, average market values are equated to tax values at least every five years.
This year’s mass appraisal is special because the average market values of the buildings recalculated during the year will be equated with taxes, of which the building owners will be taxed, ”says Kazys Maksvytis, Director of Records at the Center for Records, urging residents to actively participate in public discussion.
Records Center Photo / Kazys Maksvytis
According to him, the average market values of land and buildings determined by mass valuation are not used only for the calculation of tax values.
“These values are relevant for residents when calculating the taxes to pay in the case of gift or inheritance of property. They are used to identify regions that provide a financial incentive for young families to purchase their first home. When notaries approve asset transfer transactions, their service fees are also calculated based on average market values. In addition, these values can be used to determine the sale or rental prices of state properties, ”says K. Maksvytis.
Data on actual real estate transactions are used for analysis and calculations in mass valuation of land and buildings.
“The determination of average market values is influenced by the location of the building and land, the purpose of use, physical properties and other factors. However, the increase or decrease in the value of the real estate due to temporary improvement or deterioration of the environment, restrictions on the form, use, management and arrangement of the real estate, planning, are not taken into account. the style, the design, the interior decoration and other individual characteristics, ”says K. Maksvytis.
During the public deliberations of the mass evaluation documents, residents had the opportunity to actively participate in the discussion of the results of this year’s mass evaluation: to present their questions, make comments or suggestions. The municipality has been informed of the massive evaluation documents published by a separate notice, before October 14. your comments are also welcome.
The public hearing of the mass appraisal documents for land and buildings of all municipalities takes place from September 14 to 25, except for Elektrėnai, Šalčininkai district, Širvintos district, Švenčionių district, Trakai district, Ukmergė district. and the municipalities of the city and the district of Vilnius, where the examination of these documents will take place from September 21 to October 2.
Document deliberations take place in all of the Registry Center’s main customer service units, and residents can choose a convenient day and time to submit comments and opinions. Information on the public deliberations of the mass evaluation documents is also published in the local press.
The mass appraisal documents and the design average market values during the public hearing will be posted on the Records Center website.
About Mass Real Estate Appraisal
Massive real estate valuation is a valuation method in which a group of similar real estate objects is evaluated, maps of value zones and average market valuation models are established during a given period of time, using a common methodology and technologies. analysis and valuation of automated data collected in the Real Estate Registry and the market databases. , based on real estate market transaction data.
The actual and design average market value of a mass appraised property can be found free of charge on the Registry Center website or on the REGIA interactive map.
Average market values will be equated to tax values at least every five years. Current tax values can also be found free of charge on the Registration Center page or on the REGIA map.
A unique number of the property is required to perform the search.
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