ABSTRACT
The determination of reference land values is based on information from the Automated Transaction Register and values are primarily determined by using the sales comparison approach. In Sweden, reference values are basically related to the property taxation system, but are used for a number of purposes. The assessed so-called tax value corresponds to 75 percent of the market value. The total tax value consists of two parts–a land value and a building value. The tax assessment is drawn up and approved by the Swedish Tax Agency, with the assistance of the National Land Survey. Single-family houses, terraced houses, and condominiums are assessed every three years, whereas properties for industry, agriculture, and forestry are assessed every six years. Unlike in Germany, the Swedish system of reference value/tax value has no intention of influencing the land market. The transparency of the Swedish land market also reveals that land prices, generally speaking, are quite low compared to other Western European countries.
