Thai Property Tax Law

Land and Building Tax Act B.E. 2562

For the first 2 years of tax collection from January 1, 2020 (during the so-called transitional period), the following reduced rates will be applied:

Residential Use – Property Tax

Residential Use – Property Tax
Maximum legal tax rate: 0.30%

Tax rates based on the property value (in million THB):

Property value 0–50 million THB → tax rate 0.02%
Property value 50–75 million THB → tax rate 0.03%
Property value 75–100 million THB → tax rate 0.05%
Property value more than 100 million THB → tax rate 0.10%

Note

A tax exemption applies to the first / owner-occupied residence, provided the owner is registered at that address.

The exemption applies up to:

50 million THB for the combined value of land and house,
10 million THB for the value of the house only.

Summary: Property tax is not payable for the first property valued at up to 50,000,000.

The applicable tax rates after the end of the transitional period (i.e. from 2022) will be announced by Royal Decree. It is also worth noting that although the law allows local authorities to apply higher rates based on local legislation, these rates cannot exceed the maximum legal rate indicated in the table.

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