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Policy Directives of the Posted Land Price SystemBased on the Market Price

Mie-oak Chae 1

1국토연구원

Accredited

ABSTRACT

In 1989, Posted Land Price System(PLPS) was introduced to provide land price information for the land policy tools, such as Restricted Landownership System, Land Increment Tax System, Development Charge System. Since then, the Posted Land Price(PLP) has been the standard price of various land administrations. Nowadays government administrative systems tend to put emphasis more on market information. Therefore overall system for the Posted Land Price should be restructured based on the market price system. For this transformation of PLPS, long-term policy directives on the PLPS should be clearly established in the light of overall land policies, and short-term strategies should be carried out steadily within the scope of long-term plan. With this, the concepts of the PLP and its standard should be redefined according to the information trend of overall government administration. And current high-cost method of appraising the land value should be restructured to a low-cost system through mass appraisal system based on the market price. In the long run, Posted Land Price should be developed into the Posted Real Estate Price System, based on the market price of land & building.

Citation status

* References for papers published after 2023 are currently being built.