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This Order sets forth the procedure for normative monetary valuation of urban land.
This Act, which is composed of 18 articles, establishes the Land Fund of the Czech Republic. The Land Fund is a legal person recorded in the Trade Register. The Fund is in charge of the management of real estate belonging to the State.
The present Law establishes the rates and the modalities of payment for the use of land resources, and also expenditure of revenues from land charges, liability of payers and control over the correctness of calculation and payment of land charges.
Article 18 shall be amended to add the following wording: “Normative monetary valuation of land shall be performed as follows: (a) urban land irrespectively of the purposeful use thereof non less than once in 5-7 years; (b) agricultural land located outside inhabited areas non less than once in 5