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All real estate objects in Moldova, including land, to be valued in order to optimize the real estate taxation system

All real estate objects in Moldova, including land, to be valued in order to optimize the real estate taxation system

This is provided for by the Land Registration and Property Valuation Project (LRPVP), funded by the International Development Association (IDA), which will be implemented in Moldova in 2019-2023 on the basis of a Financing Agreement signed with IDA earlier. The overall objective of the project is to ensure the quality and transparency of land management in Moldova through the registration of real estate belonging to public and private property, and the evaluation of real estate. The Agency for Public Services and the Agency for Land Relations and Cadastre will be involved in the project. They signed this week a cooperation agreement in the framework of LRPVP. The Director of the Public Services Agency, Sergiu Railean, and the Director General of the Agency for Land Relations and Cadastre, Anatolie Ghilas, confirmed the commitment of institutions to help achieve the objectives of the project to evaluate and reassess real estate in the context of the continuous development of the National Spatial Data Infrastructure. Along with the mass primary registration of state and private property, the Land registration and Property Valuation Project is aimed at evaluating all real estate objects, which will help optimizing the system of taxation of real estate. Currently, out of approximately 6 million real estate objects in Moldova, only a little more than 800 thousand objects are valued. Also one of the priorities of the project is the development of a national spatial data infrastructure. In this regard, government agencies will be assisted in creating databases and ensuring their availability on a single platform. In accordance with the LRPVP implementation program, by the end of this year, cadastral works will be started in at least 6 districts of the country: Ocnita, Edinet, Donduseni, Briceni, Soroca and Floresti. Real estate measurement, registration and valuation activities will be carried out for rightholders free of charge, expenses will be covered by World Bank funds allocated to Moldova. LRPVP supports the implementation of the State Program for the Immovable Property Cadastre, launched in 1998, with the goal of completing the Immovable Property Cadastre throughout the country, providing mapping of 100% of land plots and registering ownership rights to them. // 05.07.2019 - InfoMarket.

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