A Review of Local Government Finance in Israel

Annex A. The valuation of immovable property

Table A A.1. Assessment and valuation of immovable property, selection of OECD countries

Country	Coverage				Assessment and valuation
	Scope	Main purpose	Other types of property taxed	Valuation method	Frequency of market value updates	Last market value update	Other updating methods	Responsibility for tax base setting
BEL	Land and buildings	Residential and business	Undeveloped land, agricultural land	Income method	Every ten years	1975	Consumer price index	Federal and regional government
CHL	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices, cost method and income method		2009/2014		Federal government
CZE	Land and buildings	Residential and business	Undeveloped land, agricultural land	Area-based assessment				National government
DEU	Land and buildings	Residential and business				1935/1964	Index	National government
DNK	Land only	Residential and business	Undeveloped land, agricultural land	Sales prices	Bi-annually	2011 On-going reform		National government
ESP	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices			Various indices	National government
EST	Land only, all types of land	Residential and business	Undeveloped land, agricultural land	Sales prices		2001		National government
FIN	Land and buildings	Residential and business	Undeveloped	Sales prices for land, cost method for buildings	Every five years		Construction price index	National government
FRA	Land and buildings	Residential and business	Undeveloped land Agricultural land	Rental value	-	1961 and 1970 (2017 for business premises)	-	National government
GBR	Land and buildings	Residential and business	None	Sales prices		1991		National government
HUN	Land and buildings	Residential and business	Undeveloped	Sales prices	Annually			National government
IRL	Buildings only	Residential and business	None	Sales prices				National government
ISR	Land and buildings	Residential and business	Agriculture	Area-based assessment			Consumer price index
ITA	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices and cost method				National government
JPN	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices and cost method	Every three years	2012		National government
KOR	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices	Annually			National government
LUX	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices	No update			National government
MEX	Land and buildings	Residential and business	Undeveloped land,	Sales prices	Annually	2014
NLD	Buildings only	Residential and business	Undeveloped land	Sales prices (and other methods for business property)	Annually	2014		National government
NOR	Land and buildings	Residential and business	Undeveloped	Sales prices	Every ten years		House price index	National government
NZL	Land and buildings			Sales prices		Varies		Local government
POL	Land and buildings	Residential and business	Undeveloped land, agricultural land	Area-based (residential) income method (business)
PRT	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices	Every three years			National government
SVK	Land and buildings	Residential and business	Undeveloped land, agricultural land	Value for land and area-based assessment for buildings				National government
SVN	Land and buildings	Residential and business	None	Value		Ongoing reform		Local government
SWE	Land and buildings	Residential and business	None	Sales prices			Income base accounts	National government
TUR	Land and buildings	Residential and business, except owner-occupied	Undeveloped land, agricultural land	Sales prices for land, cost method for buildings	Every four years		GDP inflator
USA (e.g. Philadelphia)	Land and buildings	Residential and business	Undeveloped land, agricultural land	Sales prices, cost method and income method, depending on type of property	Annually	2013		State and local government

Source: OECD update based on Blöchliger, H. (2015[1]), Reforming the Tax on Immovable Property: Taking Care of the Unloved, http://dx.doi.org/10.1787/5js30tw0n7kg-en.

Reference

[1] Blöchliger, H. (2015), Reforming the Tax on Immovable Property: Taking Care of the Unloved, http://dx.doi.org/10.1787/5js30tw0n7kg-en.