Government improves methodology for the normative monetary assessment of land plots

The Cabinet of Ministers of Ukraine has approved amendments to the Methodology for the normative monetary valuation of land plots. The updated decision will allow for a more accurate valuation of agricultural land, taking into account climate change and the consequences of the destruction of the Kakhovka hydroelectric complex for southern regions, and will also facilitate the collection of necessary information for calculating the normative monetary valuation.

This primarily concerns refining the approaches to assessing arable land in the Zaporizhzhia, Kherson, Mykolaiv, and Odesa regions. The calculation will take into account the current state of moisture supply based on hydrometeorological observation data, as well as the impact of the destruction of the Kakhovka hydroelectric complex on farming conditions.

The decision also simplifies the process of obtaining extracts from technical documentation regarding the normative monetary valuation of land plots. Specifically, the application can indicate the date for which the applicant wishes to receive the valuation figure. In addition, the extract itself will contain more information about the characteristics of the land plot and the components of the calculation. This allows land owners and users to clearly see how the valuation was determined.

“We are updating our approaches to the normative monetary valuation of land so that it more accurately reflects the real conditions under which farmers operate today. For the southern regions, which have been significantly affected by climate change and the consequences of the destruction of the Kakhovka hydroelectric complex, this is a matter of objectivity and economic justice. Meanwhile, we are creating a more understandable and transparent system: people and businesses should see not only the final figure, but also the logic used to calculate it”, said Taras Vysotsky, Deputy Minister of Economy, Environment, and Agriculture of Ukraine.

The adopted changes are expected to help more accurately reflect the economic conditions of agricultural land use, simplify the preparation of documentation, and increase the informativeness of data on the normative monetary valuation of specific land plots.