In 2020, due to the pandemic, the rate of the new tax on land and buildings was reduced by 90%, and the payment deadline was extended until the end of August. Both measures applied only to 2020. From the following year, the standard tax rate is applied again, and the payment deadline remains at the end of April.
The tax rate depends on the value of the property and its purpose of use. For residential property used for personal living, the tax rate ranges from 0.02% to 0.1%, depending on the assessed (cadastral) value of the property. If the property is rented out or used for commercial purposes, the tax rate increases to 0.3%–0.7%. In 2020, the total tax amount for all properties was reduced by 90%.
In May, clarifications were issued regarding the application of tax rates and deductions for residential and commercial properties:
- If a property is rented out on a monthly basis, it is taxed at the residential rate starting from 0.02%, as it is considered residential use.
- If a property is rented out on a daily basis, it is classified as commercial use and taxed at the commercial rate starting from 0.3%.
Property tax structure (summary based on official table)
The tax rates in Thailand depend on property category and ownership:
Agricultural property
- Individuals: 0% up to certain value thresholds (partial exemptions up to 50 million baht for individuals in later updates)
- Juristic persons: progressive rates from 0.01% to 0.10%, maximum 0.15%
Residential property
- Individual owners: 0.02% – 0.10%, depending on value
- Higher-value brackets may reach up to 0.30% maximum rate
Other / commercial use
- Rates start from 0.30%
- Progressively increase to 0.70%, with a maximum rate of 1.20%
Key takeaway
- Residential use → lower progressive tax (from ~0.02%)
- Commercial / rental use → significantly higher tax (from ~0.3%)
- COVID year (2020) → temporary 90% reduction in total tax burden