1. Industrial Park land rent is calculated on the following basis:
Land rent= plain land (without infrastructures) rent + unit price of infrastructure expenses for plain land (t)=land value tax(t)+(plain land rent unit price (t-1)-land value tax(t-1)) x(1+min(official announced increased land price (t), increase cap) )
t: official announced land value adjustment year
t-1: previous official announced value adjustment year
(1) In the case of official announced land value increase: Plain land rent will be examined, when the official land value increased, After the rent of the year deduct land value tax, the increase of plain land rent unit price should be subjected to official announced land value increase which should not exceed 10%.
(2) In the case of official announced land value decrease: Due to the fact that incentive plain land rent formula is based on year 2016 and 2017, which stays the same as of 2015. When official announced value increases, surpassing the 2015 land value, current rent will not be adjusted; whereas current rent will be decreased when the official announced land value does not surpass the 2015 land value.Public Infrastructure expenses=paid-in construction expenditures/total rentable area/20 years/12 months (Note: Public infrastructure expenditures is charged under the Act of Establishment and Administration of Science Parks, article 13, line10 of section 4, enforcement rules specifies roads, transit infrastructure, pipelines, lighting poles, drainage, utility supplies, landscaping and assorted infrastructure expenditures are included in a 20 year amortization ).
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