On 12 June, the Cabinet of ministers has approved a project developed by the Ministry of Justice on the basis of land value for 2013.
Cadastral value of residential real estate is almost unchanged. Cadastral value of agricultural land will Increase by 10% of due to the fact that earlier cadastral value of this kind of object was 20-30% lower than actual market prices. The biggest changes will affect industrial areas.
The cadastral value of real estate in overall in Latvia decreased by 0,4%. Cadastral value of residential buildings decreased by 2,1%, industrial areas by 15%. Cadastral value of agricultural land will increase by 6%.