Ukraine. Normative monetary value of arable land 75.6% up since 2012
2011-11-23 15:31:18
The Ukrainian government has increased the regulatory monetary value of agricultural land by 75.6% over the value set on July 1, 1995, adjusted for indexing.
According to government decree of 31 October 2011, the relevant changes were made to the methodology of normative monetary evaluation of agricultural land and settlements, approved by the Cabinet Resolution of March 23, 1995.
These changes come into effect from January 1, 2012.
Earlier, the State Land Agency reported that the government could increase the regulatory monetary value of agricultural land 1.7 times to nearly 20,000 UAH for 1 hectare. This increase will raise the rent for land shares averagely to 600-700 UAH for 1 hectare against 330 UAH (1 USD - 7.99 UAH).