The Ministry of Finance of Ukraine has proposed that the influence of the consumer price index on the determination of the indexation coefficient for the pecuniary value of nonfarm land, as well as land located within settlements, is changed.

The requirement is contained in the so-called "resource bill," the text of which is available to Interfax-Ukraine.

According to the document, in the period from 2017 to 2023 for the pecuniary valuation of some types of land, the indexation coefficient of the pecuniary value of land is applied, which was equal to 100% of the consumer price index. The lands evaluated in this way include farmland (arable land, perennial plantations, hayfields, pastures and mineral deposits), land plots in the territory of settlements, as well as other nonfarm land.

The Ministry of Finance proposed that by 2023 the coefficient of influence of the consumer price index in the valuation of land plots in the territory of settlements, as well as other nonfarm land is changed. The document does not indicate the values of the coefficients that the ministry intends to introduce.

As reported, in Ukraine in 2018, a general regulatory and pecuniary valuation of farmland was carried out at the expense of the state budget, and the technical documentation was approved by the State Service of Ukraine for Geodesy, Cartography and Cadastre.