Land value

The bottom value is in the real estate industry of the value of an undeveloped or fictitious exposed land or land same law .

General

The land value is particularly in areas of high population density in cities and metropolitan areas to a significant cost factor in the purchase of land become ( Bodenpreiskulmination ). It is irrelevant for the determination of the land price whether a plot of land is built on or undeveloped. The land value of developed land is assumed to be undeveloped. In this case, one speaks of the “pure land value” or “dignity if land value” as the value that would result if the property were undeveloped.

The Federal Constitutional Court (BVerfG) ruled in April 2018 that the regulations of the Valuation Act (BewG) for the uniform valuation of real estate are to be measured against the principle of equality and are incompatible with it, so that the previous calculation of real estate tax is unconstitutional and must be re-regulated by December 31, 2019 . So far, the assessment basis for real estate tax has been the unit value on which the property value is based ( Section 83 BewG), when determining the land value ( Section 84 BewG), the building value ( Section 85 BewG to Section 88 BewG) and the value of the outdoor facilities ( Section 89 BewG) is to be assumed. The land value was already part of the determination of the unit value and should continue to play a role in the future.

Factors influencing value

When determining the value of the land, the following factors influencing the value must be taken into account:

Location ( location , transport links )
Area (size of the property in m²)
Cut (shape of the property boundaries , proportion of fore and hinterland)
Land register status
Encumbrances ( construction charges , entries in Section II of the land register )

Structural usability (type and extent of structural use, regulated in the building use ordinance )

Development and development contributions

Building land reserve and division options

Soil quality (type of soil, e.g. gravel , rock or clay )

Topography (e.g. hillside location)

Mountain damage waiver

Economic influences

These factors can occur in isolation or in combination.

detection

The land value is the starting point for determining the property value:

   Bodenwert
   + Gebäudewert
   + Wert der Außenanlagen
   = Grundstückswert

According to the tax regulation of § 179 BewG , the land value is based on the land area and the standard land values . In accordance with Section 16 of the Real Estate Valuation Ordinance (ImmoWertV), the land value without buildings must be determined using the comparison process ( Section 15 ImmoWertV). In exceptional cases, existing structures on a plot of land outdoors ( Section 35 BauGB ) may be part of the land value (Section 16 (2) ImmoWertV).

The land value is the product of the standard land value and the land area : ${\ displaystyle B}$ ${\ displaystyle B_ {r}}$ ${\ displaystyle G}$

{\ displaystyle B = B_ {r} \ cdot G}

The land value increases with increasing land area and / or increased land value.

Material and earnings value

The land value is the starting point for determining the real value and the earnings value . Land value and building yield result according to § 184 Abs. 3 BewG the yield value of a property:

   Bodenwert
   + Gebäudeertragswert
   = Ertragswert

The value conventions of land value, material value and income value play a decisive role in the loan of residential and commercial real estate ( real estate financing ).

Land value in economics

The land value played especially in the classical economics an important role as a base rate for the production factor floor . However, before the classical school of economics found the laws according to which the value of land is formed, the physiocrats in France, with their chief representative François Quesnay , already put forward a land value theory in 1757. They only considered arable land to be productive and deducted its management costs from the property income ( sale of grain , etc.) and thus received the net product ( surplus ), the total product of the land minus the restitution costs for the maintenance of the production factor (supplying the family and replacement for means of production ) . David Ricardo laid in 1821 with the ground-rent ( English rent of land ) in the agriculture , the main features of modern land value theory firmly. With him, the rent consisted of the farmer's rent to the landowner. Shortly afterwards, in 1829 , Johann Heinrich von Thünen presented a theoretically closed approach for recording land value and land use as a function of the distance from a market ( Thünensche Rings ). Transport already played a decisive role in the value of the land, since the land rent was determined from the difference between the land yield minus the production and transport costs . According to the classical land value theory, the land value is the capitalized value of the land yield. The land value theory was thus the basis of the income value theory .

Others

One map series from which the arable land value can be found is the DGK 5 Bo , which was drawn up in the course of the Reichs Soil Estimation in 1934.

Individual evidence

↑ Hans Otto Sprengnetter u. a., Property Valuation - Textbook , 2008, Part 3, Chapter 1, Section 1
↑ BVerfG, judgment of April 10, 2018 - 1 BvL 11/14
↑ Bernhard Metzger, Valuation of Real Estate and Land , 2013, p. 46
↑ David Ricardo, The Principles of Political Economy And Taxation , 1821, pp. 192 ff.
↑ Johann Heinrich von Thünen, The isolated state in relation to agriculture and national economy , 1826, p. 99 ff.

[1] Hans Otto Sprengnetter u. a., Property Valuation - Textbook , 2008, Part 3, Chapter 1, Section 1

[2] BVerfG, judgment of April 10, 2018 - 1 BvL 11/14

[3] Bernhard Metzger, Valuation of Real Estate and Land , 2013, p. 46

[4] David Ricardo, The Principles of Political Economy And Taxation , 1821, pp. 192 ff.

[5] Johann Heinrich von Thünen, The isolated state in relation to agriculture and national economy , 1826, p. 99 ff.