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This paper surveys the literature on immovable property taxation along two dimensions prevalent in the literature: i) according to the type of real estate over its life-cycle and ii) according to the type of tax. The first strand of the literature agrees that immovable property taxation should be neutral to avoid distortionary behaviour vis-a-vis other assets/consumption goods. However, the neutrality benchmark and hence taxation to be chosen depend on the theoretical view taken. The second strand assesses one type of property tax at a single point in time with respect to the considerations of efficiency, equity, fiscal federalism and political economy. Most of this strand of the literature focuses on recurrent property taxation on residential property, which has a lot of theoretical merits. A key message of both strands is that reaping the theoretical merits of immovable property taxation in practice is hindered by tax design issues and political economy issues.

The question as to whether the buyer of immovable property should still be able to receive the ownership of the property in case the seller goes bankrupt prior to conveyance, has sparked academic debate in many jurisdictions. In the context of immovable property, many scholars feel it is justified to provide additional protective measures in favour of the buyer and hence provide buyers with some sort of proprietary interest, prior to conveyance. But exactly which circumstances justify these protective measures under current law? And what is the most desirable way to protect the buyer in terms of scope of application and effect? This article will answer these questions on the basis of a newly-developed theoretical framework.

This study employed big data and spatial analysis to assess property values in two cities, Lahore and Faisalabad. Traditional housing price models overlook spatial nuances, focusing solely on structural attributes. To address this, we constructed valuation models using ordinary least square regression and Fast Geographic Weighted Regression (FastGWR), implemented through Python and MPI, based on spatial variables. The models explained up to 75 percent of variance in Faisalabad and around 85 percent in Lahore. Factors like floor area, proximity of health facilities, recreational sites, and marketplaces add a premium to prices, while the nearness of educational institutions, worship places, and solid waste transfer stations or dumping sites lessen the property values in both cities. However, the proximity of industrial units and graveyards affects property values negatively in Lahore but positively in Faisalabad. This study highlights the critical significance of spatial factors in urban immovable property appraisal. As a result, it is recommended to integrate these factors into the process of policy formulation and urban planning.1. INTRODUCTIONPakistan’s real estate market emerges as a potential economic powerhouse, with a substantial portion of the nation’s wealth concentrated within its real estate assets, estimated at 60-70 percent. While the sector contributes around 2 percent to the GDP, the combined impact of housing and construction reaches nearly 9 percent. The value of Pakistan’s real estate sector, evaluated at approximately $700 billion by the Federal Board of Revenue, signifies its economic significance. Impressively, returns on investment can soar beyond 100 percent (Ouattara et al., 2018). However, this promising market is juxtaposed against a backdrop of challenges and disparities. Pakistan’s population, surpassing 225 million, expands annually at a 2.4 percent rate, characterised by an average household size of 6.5 (Pakistan Bureau of Statistics, 2019). With a yearly housing requirement of 700,000 units, merely half of this demand is met, leading to an alarming gap of roughly 10 million units (Rizvi, 2018). This housing shortage necessitates innovative strategies, particularly in the realm of low-cost housing schemes. The intricacies of property valuation further complicate the real estate landscape. Government land acquisitions relying on DC valuation tables often incite public protests due to perceived undervaluation (Sabir et al., 2017). The importance of precise valuation for equitable compensation is underscored by research (Malaitham et al., 2020). Notably, property valuation is not just pivotal for buyers and sellers; it resonates with stakeholders such as investors, banks, agents, and insurers. The geographical location holds substantial influence over a property’s price, further emphasising the necessity for accurate valuation (Mankad, 2021).In dynamically growing cities, the accurate prediction of urban land use evolution plays a pivotal role in fostering sustainable urban planning (Liang et al., 2018) such as Lahore and Faisalabad in Pakistan. Notably, vast untapped potential resides within public properties, including Government Officers Residences (GORs) and railway lands, representing latent avenues for wealth creation. Leveraging these assets effectively can substantially contribute to economic prosperity. The implications of this study extend to policymakers, offering insights to navigate the intricate domains of housing and urban development. A robust housing market stands as a linchpin of a resilient economy; however, Pakistan’s housing sector faces an intricate array of challenges. Urbanisation and migration galvanise demand within urban centers, an issue compounded by insufficient supply catalysed by diverse factors. Shortcomings in land usage, planning, and property rights impede progress, while inadequate revenue collection from property taxes curtails infrastructure financing. The labyrinthine regulations further stall land development, exacerbating housing availability discrepancies, particularly pronounced in megacities like Karachi and Lahore. Notably, housing construction trails behind the meteoric pace of population expansion. Skyrocketing market conditions render housing unattainable for many, channeling them towards informal settlements (Dowall & Ellis, 2009; Haque, 2015; Wani et al., 2020; Yuen & Choi, 2012). The challenges are particularly pronounced within Punjab’s housing markets, accentuated in cities like Lahore and Faisalabad, grappling with deficits in affordable housing (Malik et al., 2020; Wajahat, 2012). A glaring obstacle lies in the hands of speculative investors who control 75 percent of residential plots, perpetuating this complex issue (Zaman & Baloch, 2011). This practice thrives on secure real estate investments and tax loopholes, compounding the predicament. Although plot prices surge significantly (Gul et al., 2018), official valuations lag behind, generating volatility in Pakistan’s property prices. The repercussions of such fluctuations extend to the public, shouldering the burden of investor gains. Despite intermittent housing policies, the issue remains inadequately addressed, emphasising the urgency of public sector interventions to stabilise spiraling prices (Ahmed et al., 2021). 

Research undertaken by the World Bank in Europe and the Central Asia Region indicates that there are four principal preconditions for introducing value-based recurrent property tax reforms: comprehensive property registration, a reliable source of data about the prices achieved in transactions, a valuation infrastructure that complies with internationally-recognized standards, and an efficient tax collection system. In spite of the arguments in favor of value-based recurrent property taxes, many countries raise revenue from recurrent property taxes using an area basis, and most countries raise relatively little revenue from recurrent property taxes. The paper has been written according to both the dogmatic-legal method and comparative method. It presents current solutions adopted in post-Soviet European countries in order to draw out recommendations and suggestions for Poland. The original reasoning for the paper is that, amongst many scientific papers concerning thorough debate of property tax systems, few have focused on post-Soviet countries and the issues that arise in transition countries. Most concern Western European or North American countries with different economies, politics, institutions, and histories to the Eastern ones. Authors of the paper believe that the article can fill the gap in discussions on the shape of the property tax system reform in Poland and the reforms carried out in Eastern Europe countries.

This article delves into the critical aspect of exclusive jurisdiction in Vietnamese law, particularly focusing on disputes emerging from international commercial contracts relating to immovable property. The main objective is to demystify the types of disputes that are encompassed under this exclusive jurisdiction and to propose a requisite level of connection to Vietnamese immovable property for such jurisdiction to be applicable. Through a comprehensive analysis, the study reveals varying interpretations by Vietnamese courts regarding the scope of this jurisdiction rule. A notable finding is the contrasting jurisdictional approaches between domestic and foreign arbitrators in handling disputes connected to international commercial contracts involving immovable property. This discrepancy highlights the urgency for Vietnam to align its legal framework with global standards. The paper emphasizes the significance of this harmonization, not only for legal clarity and consistency but also for enhancing the attractiveness of Vietnam’s legal environment for international investors.

Modern land/property valuation practice requires three-dimensional (3D) valuation, which is crucial to better valuate and assess values of property units. However, conventional land/property valuation systems primarily exist in 2D form, which hinders the accurate valuation of buildings, condominiums and land. The present study introduces the first step toward establishing an advanced land/property valuation system in Mongolia, where it is urgent to meet such requirements. We examined relevant Mongolian geospatial standards and documents, those related to land valuation (i.e., cadastral parcels and buildings), and a valuation information model, which is based on the ISO 19152:2012 Land Administration Domain Model (LADM), with the aim of developing an LADM Valuation Information Model country profile for Mongolia. After the in-depth analysis of the data model of both the LADM Valuation Information Model and the national geospatial relevant standards, we proposed the LADM Valuation Information Model country profile as a conceptual model. Our study results demonstrate how the LADM Valuation Information Model can be adapted to the Mongolian land administration system. Our findings can be used to serve a reference data model to construct 3D land/property valuation systems for efficient valuation of land (e.g., mass appraisal) and taxation purposes.

Housing taxation is considered the most obvious tax system inequity. Therefore, this type of taxation should be in line with the benefit principle. This article examines the attitudes of citizens towards residential building taxation in the Czech Republic. The aim of this paper is to evaluate the perception of residential building tax burden by taxpayers who own a house or apartment for housing based on primary research. The research was conducted in the Czech Republic using a questionnaire in 2021 and 2022. Differences in the tax burden perception in relation to improvements in quality of life in a municipality and use of compensation by providing financial benefit in favor of resident citizens are investigated in the context of municipality size. It was found that the majority of respondents in all municipality size categories perceived the tax burden as reasonable. Citizens' positive attitudes towards the taxation of their residential buildings were influenced not only by the quality-of-life improvement in the municipality, but also by the transparency of the municipality's financial management. By compensating for the tax on residential buildings through providing a financial benefit, some municipalities reduced the tax burden for their resident citizens and shifted the tax burden, within the limits of the law, to buildings for business and recreation. The most common forms of financial benefits included reducing or eliminating municipal waste fees.

Current political and economic situation in the world led Russian economy to the conditions when some actions to develop national production of goods, works and services have to be taken as an answer to international sanctions. Serious problems in the financial sector of the economy; dropping of oil prices, currency rate, budgetary deficit, in fact - the continuing process of recession, which can create more global problems-system crisis if emergency measures aren't made. One of the prospects to solve these tasks is the development of leasing relationships, what is actual and perspective. In this research the features of leasing relationships are considered and also their tax component; besides some measures of tax character to develop and restore the fields of economy, solve the problems of import substitution are mentioned in the research.

Immovable property tax is one of the key elements of fiscal decentralization in the Czech Republic. It is the only tax that is directed to municipal budgets in the full amount. It is also the only tax the total receipts of which can be influenced by municipalities by means of corrective features. Although the significance of immovable property tax in the process of fiscal decentralization is undeniable, its role in municipal budgets is much discussed. The goal of the article is to evaluate the role of immovable property tax in budgets of Czech municipalities through its impact on the resulting balance of financial management of a particular municipality. The role of immovable property tax is assessed against its importance for the municipal budget. The data concerning financial management of municipalities, the amount of receipts of immovable property tax and the possibilities of utilization of the local coefficient in the year 2019 are analyzed in detail. The results identified by the analysis are compared with the situation in 2012 and it may be stated that although the role of immovable property tax in municipal budgets has decreased if compared with the year 2012, it still represents a significant income of Czech municipalities. At the same time, the current economic situation suggests that the importance of immovable property tax will increase in the years to come.

The tax on acquisition of immovable property was abolished on September 26, 2020 in the Czech Republic. One of the  reasons mentioned in the explanatory report to the Act was the statement that the abolition deals with the effects of this  virus on society. The main aim of the article is to answer the question of whether the abolition of the tax on acquisition of  immovable property is a tool to suppress the negative consequences of Covid-19 or a politicum. To get the answer, it is  necessary to shortly describe the tax on acquisition of immovable property and its structural components and make a  basic comparison with the other EU Member States. We also summarise the pros and cons of the tax and related findings  of the Constitutional Court. As the property transfer tax is connected with the income tax and there were several  amendments in the proposal, it is needed to analyse these changes. Based on the research, it is possible to conclude that  the abolition of the tax on acquisition of immovable property is definitely not a tool to suppress the negative  consequences of Covid-19; it is just a politicum: political parties believe that the abolition of the transfer tax brings them  more voices in the elections.