Politics
Silom Property Tax Referendum to Shift Annual Bills for Homeowners and Retail Tenants
The measure would recalculate assessments on commercial and residential properties across Silom districts, changing payment obligations for owners and those who lease space from them.
How we reported this
The Silom City Council placed a property tax reassessment measure on the July 18 ballot that would update valuations last revised in 2018. Passage would raise levies on buildings valued above 12 million baht while holding rates steady on lower-tier homes.
The change arrives after the council recorded a 9 percent shortfall in its 2025 operating budget, according to the annual fiscal statement released in March. Council documents list infrastructure maintenance and waste collection as the two largest expenditure categories now under review.
Who faces higher or lower payments
Owners of ground-floor retail units along Silom Road and Sathorn would see their yearly tax statements rise by an average 18 percent if the measure passes, based on the valuation tables published by the revenue department. Landlords have indicated they plan to pass a portion of those increases through rent renewals due in the fourth quarter.
Households in the residential pockets north of Lumphini Park with properties assessed below the new threshold would receive modest reductions, the same tables show. Renters in those buildings could see smaller annual adjustments if owners apply the savings to maintenance reserves rather than immediate rate cuts.
Small service businesses operating from shared commercial floors would face the largest proportional jump, since many leases tie rent directly to the property tax component. The legislation states that appeals must be filed within 60 days of the new notices, which are scheduled for distribution in September.
Voters will decide the measure after the council publishes final impact estimates on July 12. If approved, the first revised bills would be mailed in October with payment due by December 31.