The standard monetary valuation of land in Mykolaiv has not been updated for seven years: the matter will be brought before the council

Mykolaiv City Council. Photo: NikVesti

The standard monetary valuation, on which land tax, land rent and, consequently, revenue for the city budget depend, was approved in Mykolaiv seven years ago. City councillors are due to update it, after which they will commission the preparation of technical documentation.

The relevant information from the Department of Architecture and Urban Planning to the members of the Mykolaiv City Council is available to NikVesti.

The document states that a draft resolution concerning the conduct of a normative monetary valuation of land in Mykolaiv was tabled at the city council meeting on 26 March. The Department of Architecture notes that, by law, the conduct and updating of the normative monetary valuation is mandatory. This must be done every 5–7 years.

«The current normative monetary valuation in Mykolaiv has been in force for seven years, meaning it is now necessary to update it,» the document states.

Land tax, rent for state— and municipally-owned land, and, consequently, revenue for the city budget depend on the standard monetary valuation. As the decision to approve the technical documentation for the standard monetary valuation is a regulatory act, councillors must adhere to the procedure.

«For the new normative monetary valuation to come into effect on 1 January next year, the decision to approve it must not only be adopted but also officially published by 15 July this year,» explained the Department of Architecture and Urban Planning.

The department also explained that the indexation of the normative monetary valuation is carried out taking into account coefficients, which are determined annually by the state.

«Indexation for the period 2021–2025 is automatically factored into the base value of the normative monetary valuation at the time of its adoption. Currently, the base value of the normative monetary valuation, which has been in force since 2020, stands at 340.76 hryvnias, and taking into account changes in indexation, it will stand at 548 hryvnias in 2026,» added the Department of Architecture and Urban Planning.

Technical documentation for the standard monetary valuation is being developed in accordance with laws and methodologies, and developers cannot determine the value or set coefficients at their own discretion. Under the new calculation methodology, changes to the standard monetary valuation are possible depending on the location and intended use of the plot, as well as the availability of utilities.

The Department of Architecture also explained that extracts from the normative monetary valuation will be provided more quickly than at present when new documentation is being drawn up.

«Given that information on the boundaries of the city of Mykolaiv was entered in 2025, when developing new technical documentation based on the standard monetary valuation, an extract from the NGO will be issued by the State Geocadastre automatically within a few minutes, which will eliminate the possibility of technical errors by geocadastre staff, as currently its compilation and preparation take several days,» noted the Department of Architecture and Urban Planning.

Once the councillors have passed the decision, the technical documentation will need to be commissioned in Mykolaiv. This matter is scheduled to be brought before the city council meeting, which will take place tomorrow, 9 April.

As a reminder, Mykolaiv’s mayor, Oleksandr Sienkevych, stated that due to rising fuel prices, the city will not be able to carry out all the work planned in the budget in full. Projects will have to be reviewed before tenders are announced.