Abstract:
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The primary objective of this study is to determine factors affecting assessed prices of rural lands in Tambon Lampang Luang using cross-sectional data relating to 282 land parcels. The data includes assessed land prices (for 2012-15 and 2014-16), land access, road conditions, road width, distance to Centre Business District, land parcel shapes, land parcel area and land uses.
The data is analyzed using least squares method. It is found that the most influential factors are road conditions, road width, land parcel shapes, flag-shape land parcel, land uses and assessed prices for 2012-15. These factors are similar in terms of their effects on assessed prices. However, all the flag-shape land parcels seem to have positive relationship with the assessed prices, which is against the assumptions. One possible explanation is that all the samples of the flag-shape parcels are located in the prime location of the study area. Therefore, these flag-shape samples are not suitable for this analysis. The findings also suggest that there is a negative relationship between land parcel area and assessed prices. Therefore, the assessment practice should recognize the influential factors, particularly road conditions and width, and include them in the property stratification process along with property access factor. This will improve property assessment in terms of land use reflection.
Key word factors / assessed prices / tax / rural lands / Lampang Province
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