How is the land price of an expropriated zone assessed? Will the average land price of an expropriated zone affect the interests of a land owner? How can a land owner receive his/her land-price offset payment?
(1) Land price for an expropriation zone is evaluated according to Article 45 of Land Expropriation Act. The average development cost of the expropriated zone is firstly calculated as a benchmark on which other factors affecting land price are then considered. The estimation must be submitted to Taichung City Standard Land Price Consultative Committee for evaluation and approval.
(2) How much land or money a land owner will be compensated depends on the proportion of his/her individual land-based offset payment to the total offset payment for the entire expropriated zone and the estimated land price of the allocated offset land. The higher the average land price for an expropriated zone, the higher the offset payment you will get. Nevertheless, the estimated land price of the allocated offset land should be adjusted higher, too. Thus, the average land price will not affect your rights for offset land. The multiple used to convert a land owner’s land-price offset payment into the value of rights he/she will obtain is the same. The system is consistent and fair.
(3) A land owner can select to receive his/her land-price offset payment in three options, namely total cash compensation, total offset land, or partly cash and partly offset land. If those who have already been approved for land-to-land compensation by the competent authority wish to be compensated by cash, they shall apply in writing to the competent authority before the land-based offset payment operation meeting is held. The competent authority shall then consult with the land-using authorities and consider all the factors that may affect the zone-expropriation operation before deciding whether to agree to your application to change to cash compensation or not.