Lattiaarvo

Lattiaarvo refers to a Finnish term often encountered in real estate and taxation contexts. It translates directly to "floor value" or "base value" and represents the minimum assessed value assigned to a property. This value is typically determined by municipal authorities or a designated tax assessment body. The purpose of establishing a lattiaarvo is to ensure that properties are not undervalued for the purposes of property tax calculations, land use planning, or other official valuations. It acts as a floor below which the official valuation of a property cannot fall, regardless of its current market condition or specific features.

The lattiaarvo can be influenced by various factors including the location of the property, its size, zoning regulations, and general land values within the municipality. It is a static figure that is reviewed periodically, rather than fluctuating with short-term market changes. When a property's market value or a more detailed valuation falls below its lattiaarvo, the lattiaarvo is used as the basis for taxation or other assessments. This mechanism helps to maintain a consistent and equitable tax base across different properties within a jurisdiction, preventing significant drops in tax revenue due to localized market downturns or the dilapidation of individual properties.