Law on Land Tax (No. I-2675).

This Act makes provision for the taxation of ownership of private land. The annual rate of land tax shall be one and a half percent of the "cost" (not defined) of the land. In the case of forest land the value of trees shall not be included. Tax reliefs for land in protective forest belts and in natural monuments, as well as for land used for purposes of nature protection, shall be established by the Government of the Republic of Lithuania in coordination with the Department of Environmental Protection. The tax is paid by the land owner - a natural person and a legal entity. The tax base is the tax value of the land. The fiscal period of the tax coincides with the calendar year. Land valuation is carried out by a property valuation company. Land valuation is carried out using maps of land value zones prepared by mass land valuation and models for determining the average market value of a land plot. The tax is credited to the budget of the municipality in whose territory the land is located. If the land is located in the territory of several municipalities, the tax is calculated proportionally to the part of the land plot belonging to the respective municipality.