Transcript of the above video:

As the title of this video suggests, we are discussing the tax ceiling associated with residential property here in the Kingdom of Thailand. For those who are unaware, yeah depending on your circumstances, you may be subject to taxes in Thailand on certain residential dwellings for example a condo could fit under this description and it could directly impact a foreign national because it is possible pursuant to the provisions of the Thai Condominium Act, for a foreign national to own a Thai Condo in freehold status here in Thailand and thereby be subject to tax liability associated therewith.

I thought about making this video after reading a recent article in the Bangkok Post, that is bangkokpost.com, the article is titled: New tax reduction for land and buildings comes into effect. Now I urge those who are watching this video, go check out that article in detail because if you really are interested in this and I suspect it is a pretty small number of people watching this video, not a lot of folks watch our videos on taxes and sort of stuff associated with taxation here in Thailand, although if you are looking to live in Thailand, that is probably not a great idea, you should probably kind of keep track of those things. Again we don't get in depth into it, we don't drill down super, duper deep but it is kind of one of those "it is good to know sometimes even what you don't know" so you can kind of figure out what you need to research if you are going to live here long term. And again I urge those who are watching this video go check out that article in detail. I am going to quote a small excerpt here but the article is very insightful, a lot of information in there. 

Quoting directly, again the article is titled: New tax reduction for land and buildings comes into effect, Bangkok Post, bangkokpost.com, quoting directly: "The current tax is based on step-up rates, which vary according to the value of the land and construction.” Quoting further: “The tax ceiling for residential land is 0.3% and the effective rate is 0.02 - 0.1%. Owners of first homes are exempt from property tax for land and buildings, up to a value of 50 million baht."

So in most cases, Thai Property Tax isn't going to even impact a residential homeowner here in Thailand. You are not even going to see it, it's just not going to be something that comes up. Now again you have got to remember, this is a different tax from the transfer tax which will occur at the time of conveyancing if you are taking title to property in Thailand but if that is not the case, if you are not doing a transfer, you are just still living in your house, it is worth less than 50 million, it's your residence, you are probably not even going to have to deal with these kind of tax matters here in the Kingdom of Thailand.