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Reforming Land Valuation and Taxation in Ukraine : A Path towards greater Sustainability Fairness, and Transparency

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  • Klaus W. Deininger
  • Daniel Ayalew Ali
  • Eduard Bukin
  • Martyn,Andrii

Abstract

The shift from administrative to market-based property valuation is critical for effective decentralization and local revenue collection in Ukraine. To demonstrate the viability of such a shift, this paper uses prices for nearly 200,000 agricultural land sale transactions in 2021–24 together with parcel attributes from public data to estimate a hedonic model and predict prices for all of Ukraine’s 7.5 million commercial agricultural land parcels. Despite the war, mean predicted prices are significantly above current ‘normative monetary’ valuations (NMVs). Inter-regional differences are pronounced. Steps to extend mass appraisal to residential urban properties and legislative changes needed to replace NMVs with a market-based approach are discussed, noting that a shift to market-based valuation will have far-reaching implications for the volume of public and private investment that can be attracted to support reconstruction; the likely effectiveness of such investment; and local governments’ ability to benefit from any land value appreciation that may result from it.

Suggested Citation

  • Klaus W. Deininger & Daniel Ayalew Ali & Eduard Bukin & Martyn,Andrii, 2024. "Reforming Land Valuation and Taxation in Ukraine : A Path towards greater Sustainability Fairness, and Transparency," Policy Research Working Paper Series 10998, The World Bank.
  • Handle: RePEc:wbk:wbrwps:10998
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