How to estimate Fixed Asset Value?

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onemoreguyjin
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How to estimate Fixed Asset Value?

Post by onemoreguyjin »

First time posting! Although this is in the City Life Forum I would love to hear from people in the country as well.

I have been looking at houses in Okayama City (currently living here in an apartment) and just trying to estimate upfront costs of some houses.
Two taxes in general have me scratching my head: Real Estate Registration Tax and Real Estate Acquisition Tax. They're both taxed based on the Fixed Asset Value.

Is there anyway to get a rough estimate on this value? I know that it is usually cheaper than the asking price.

For example, I am looking at a house that is going for 1,290,000 Yen. It's 30 years old but has been recently renovated pretty much from top to bottom. It's not located near to any train stations or anything and is about a 20 minute drive to the actual city. It is in a residential area and has houses all around though.

If there is no way to come up with a rough estimate that is fine but if anyone is in a similar situation, could you tell me how much your house was/is valued at?

Thanks a lot!
Okayama, Japan

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gonbechan
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Re: How to estimate Fixed Asset Value?

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onemoreguyjin
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Re: How to estimate Fixed Asset Value?

Post by onemoreguyjin »

I saw this and it’s close! However, it requires me to know the price of property per tsubo or square meter which is another value I don’t know... 😭
Okayama, Japan

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Zasso Nouka
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Re: How to estimate Fixed Asset Value?

Post by Zasso Nouka »

Divide asking price by amount of tsubo ?

edmundedgar
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How to estimate Fixed Asset Value?

Post by edmundedgar »

You might also be interested in sites like this that give you data on actual sales in the area:
https://tochidai.info/

It's best to go right down to the town level and look at the little map to find similar properties as the average for the town may conceal quite a bit of variation depending on proximity to the station etc.

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onemoreguyjin
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How to estimate Fixed Asset Value?

Post by onemoreguyjin »

edmundedgar wrote:
Sat Jul 25, 2020 11:47 am
You might also be interested in sites like this that give you data on actual sales in the area:
https://tochidai.info/

It's best to go right down to the town level and look at the little map to find similar properties as the average for the town may conceal quite a bit of variation depending on proximity to the station etc.
Sorry for the late reply! Nothing came to my email! This is a great tool and is close to what I'm looking for! Thanks!
Okayama, Japan