The land owners in Thailand start feeling the pressure concerning the new land and property tax law that is expected to come into force from 1st January 2019.
The new tax draft calls for a rate of 0.05% to be applied to first homes and agricultural land worth between 50 million and 100 million baht.
For homes above 100 million a rate of 0.1% is applied.
So this will of course only concern those living in extremely expensive locatons like Bangkok and not concern most people living in a normal home where the land appraisals are lower.
Land for 2nd homes in all of Thailand in all price ranges will be taxed at 0.03-0.1% of its appraisal value.
Land for commercial and industrial use all over Thailand will be taxed at 0.3-1.5%.
And finally the tax on vacant land will start at 2% and rise by 0.5 percentage points every three years, until it reaches 5%.
Now the general public starts feeling the pressure to either sell their vacant land or to lease it out.
Some land owners are seeking investors to develop the land.
However most land owners will keep their land and just accept the increased tax and pay the price.