=Paper=
{{Paper
|id=Vol-3040/paper5
|storemode=property
|title=Parity of Land Relations Under the Conditions of Growing Agribusiness Economy and Digital Transformation
|pdfUrl=https://ceur-ws.org/Vol-3040/paper5.pdf
|volume=Vol-3040
|authors=Lyubov Y. Adadimova,Yriy G. Polulyakh,Аnna-Мaria B. Zykova
}}
==Parity of Land Relations Under the Conditions of Growing Agribusiness Economy and Digital Transformation==
https://ceur-ws.org/Vol-3040/paper5.pdf
Parity of Land Relations Under the Conditions of
Growing Agribusiness Economy and Digital
Transformation *
Lyubov Y. Adadimova1, Yriy G. Polulyakh1 and Аnna-Мaria B. Zykova2(*)
adadimova@inbox.ru, anna.zykova.97@mail.ru
1 Volga Region Scientific Research Institute of Economy and the Organizations of Agrarian
and Industrial Complex, Saratov, Russian Federation
nii_apk_sar@mail.ru, inf-nii-apk-sar@mail.ru
Abstract. The research aims to highlight the need for parity of the parties
in land relations in the agricultural industry and develop a mechanism to
control it under conditions of digitalization and economic growth. To
achieve research goals, we used general economic methods and approaches
to assessing income-generating real estate (resource-intensive, profitable,
and comparative). The term “parity of land relations” was introduced due
to the evidence of its necessity and feasibility. Besides, we developed an
approach to control the parity of land relations. The parties to land
relationships can be (1) the state as the governing and executive apparatus
of cadastral valuation of land, (2) local authorities as recipients of land tax,
(3) landowners, (4) tenants, or (5) producers of goods. In addition, we
described the conditions of parity at each stage. When choosing the method
for calculating land rent from net income, one should proceed from the ratio
between the land rent and the entrepreneur’s profit. As for the calculation
of land rent, we advocate the requirement that the rent be equal to the
amount of land rent. As for the land tax considered based on the rate of the
cadastral value, we list the cases when it should be equal to the personal
income tax on the land rent). The last parity condition is that all three
methods of calculating land tax (from cadastral value, land rent, and rental
charge) are mutually equal. Basic parity implies that the cadastral value tax
and the land rent tax are equal. Such parity is achieved by adjusting the
capitalization rate or land rate tax. More than that, we enabled the unique
technique to estimate the value of agricultural land based on the economic
results of the agricultural process. The results were calculated in a
computer-based economic-mathematical model using the financial records
of agricultural organizations collected by the Ministry of Agriculture of the
regions using the 1C accounting software. Scientific relevance lies in (1)
the proposal of the term “parity of land relations in the agricultural sector
of the economy,” (2) the development of conditions and the scheme of its
formation and control.
Keywords: Economic expansion of agricultural land ⸱ Land relations ⸱
**Copyright © 2021 for this paper by its authors. Use permitted under Creative
Commons License Attribution 4.0 International (CC BY 4.0).
Parity ⸱ Cadastral value ⸱ Land rent ⸱ Rental charge ⸱ Land tax ⸱
Capitalization rate
1 Introduction
The ongoing digital transformation of agriculture implies (1) fundamental
modernization of the agricultural process, (2) increase in the volume of products,
(3) improvement of the quality and competitiveness of agricultural products by
enhancing the organization and management of production, and (4) accelerated
introduction of innovative items. Document management will be significantly
reorganized. The analog system will be replaced with digital automation of
accounting and reporting of agricultural producers, management of the activities of
their divisions, and monitoring and control of executing technological operations.
The speed of training in “precision agriculture” technologies, the autopilot of mobile
machines, and the speed of introducing other innovations will increase. (Petrov &
Gregoryv, 2016; Idrisov &. Knyaginin & Kudrin & Rozhkova, 2018; Shibayev. &
Azizov, 2005).
Digitalization will fundamentally affect land relations since almost all
innovations will influence land use and increase their efficiency. We are convinced
that the price of land plots will rise because land in agriculture is inelastic. Currently,
the land is expensive due to the volume of production or the volatile cost of other
production factors. For these reasons, it is necessary to improve the approach to the
valuation of agricultural land. In this respect, the digitalization of the economy
provides numerous opportunities. In particular, the transition to automatic formation
of financial accounting and reporting of all producers of agricultural goods at the
municipal, regional, and national levels allows one to assess the land plot based on
the economic results of production, considering market tools and indicators (1C:
Agro-industrial, 2020; Adadimova & Polulyakh, 2020). The ability to access Space
and GIS technologies (remote sensing of the Earth from space) allows one to make
an inventory of all available land and substantially update the location and
technological characteristics of all land plots, which will be concentrated in the
Unified Federal Agricultural Land Information System (Ministry of Agriculture and
Social Development of the Russian Federation, 2018).
All these possibilities create conditions for the formation of parity of land
relations in the agricultural sector of the economy. Parity of land relations is a
sustainable relationship between actors with the authority and ownership of land
(right to use, own, and dispose of land) regarding the attribution of land use results
as the primary means of production in agriculture. In modern agriculture, the
subjects of relations are the government with local authorities, direct owners of land
plots, and their tenants. The economic content of land relations is expressed using
indicators-criteria: cadastral and market value, land rent, land tax, and rental charge.
2 Materials and Methods
To achieve the research goals, we used general economic methods and our own
approaches to assessing income-generating real estate (resource-intensive,
profitable, and comparative). Also, we referred to federal standards and systematic
recommendations, such as (1) Federal Valuation Standard “Real Estate Valuation
(FVS No. 7)” (Ministry of Economic Development and Trade of the Russian Federation,
2014); and (2) the standards of International Valuation Standards Council (IVSC 1–
4) (International Valuation Standards Council, 2017; International Valuation
Standards Council, 2019). Besides, we applied the information repositories to obtain
data, such as (1) annual accounting of agricultural organizations; (2) “National
Report on the Status and the Land Exploitation in the Russian Federation” (Federal
Service For State Registration, Cadastre, and Cartography [ROSREESTR], n.d.);
(3) Federal State Statistics Service of the Russian Federation (Federal State
Statistics Service [ROSSTAT], n.d.); (4) land lease, market value, and rent from
land markets, including BEFL publications (ROSREESTR, n.d.; BEFL, 2015;
BEFL, 2018).
3 Results
On the one hand, the government, represented by the Federal Land Cadastre Service
and the Federal State Budget Institution “Center for Real Estate Valuation,” is the
organizer of land relations among the subjects of land relations. Moreover, since
2017, due to the new methodological guidelines, the government has become the
executor of agricultural land valuation. On the other hand, the government,
represented by the Tax Service (at the municipal level), is the beneficiary of the
results of such relations. Consequently, the government is interested in increasing
the cadastral value of the land; it can satisfy this interest. Therefore, in the valuation
process, the government seeks to obtain excessive land rents and apply the lowest
capitalization rate. Additionally, the government receives benefits when the land
tax rate is high. Nonetheless, due to the low solvency of agricultural landowners
(especially land shareholders) and tenants (producers), preferential taxation should
be applied. We should note that farmland has a specific feature: it is challenging to
compare farmland with real estate land, which requires lower land tax rates.
The tenant-producer holds the opposite position; they need good land plots but
low rents. A market category, such as rent, is highly dependent on the cadastral
value of the rented land because the size of the rent has reasonable lower and upper
limits. Rent cannot be less than the land tax, and the landowner strives for the
maximum possible rental income, which is the primary result of the cadastral
valuation of agricultural land exploitation, calculated by capitalizing their cadastral
value.
Landowners want to have a high cadastral value of their land to explain the
amount of rent and the offer price in the event of a land sale. However, landowners
do not want to pay a large land tax. They are interested in a high cadastral value and
a low land tax rate. Based on these characteristics of the subjects of land relations,
the establishment of full parity requires (1) the improvement of the valuation
technique, (2) significant conciliation procedures, (3) business games, and (4)
application of optimization models according to the criterion of maximum
economic growth. However, on a formal level, it can be achieved as follows (Fig.
1).
Parity formation should begin with the analysis of the methodology and results
of the cadastral valuation of agricultural land. The first step is to determine the net
income and its distribution between the land rent and the entrepreneur’s income.
The first and most important condition of parity of relations between the landowner
and tenant of the land plot is fixed at this stage. The long-standing residual principle
of distribution, which has begun to change recently, is used to give preference to
the tenant (entrepreneur), establishing the first income, providing the land rent with
residual funds from the net income. We believe that it is possible and even necessary
to use the principle of distribution of the final economic result proportional to the
share of participation of the landowner and its tenant. In turn, the participation of
the landowner and tenant can be assessed using the following ratios (respectively):
(1) natural soil fertility and induced soil fertility; (2) constant costs and variable
costs in the total estimated cost; and (3) cost index and yield index, which form the
intensification efficiency factor (Adadimova, 2018).
Government
Land Registry Office Federal Tax Service
(municipal level)
2 3 Cadastral cost
State cadastral Capitalization factor
valuation of (Кk)
agricultural land (3)
Кk = Кzn/ КPit (2)
4 Land
1.1 Land rent
tax: (4)
1.2
1.3
7 Assessment
Entrepreneur’s
benefit parity
Tenants-producers
(1 3)
Sz*Кzn ≈ Rз* КPit ≈
s (1.2) 5 6 Rent tax at the
personal income tax
Rental charge rate
Аz≈Rz (6)
Nа = (Аz-Nz)* КPit
Land shareholders
W – production value (revenue from sale), thousands of rubles/ha; U – crop yields, cwt/ha; V –
constant of variable costs, thousands of rubles/ cwt; С – constant of fixed costs, thousands of rubles/ha;
Rz – rent to owners of the land, thousands of rubles/ha; Pp – income of an entrepreneur, thousands of
rubles/ha; Кk – land rent capitalization rate, items; S3 – cadastral value, thousands of rubles/ha; Nz –
land tax, thousands of rubles/ha; Na – rent tax at personal income tax rate, thousands of rubles/ha; Кzn
– land tax rate on cadastral value, items; КPit – personal income tax rate, items.; Аz – land rent,
thousands of rubles/ha.
Fig. 1. The scheme illustrating the formation of parity of land relations between the
government, landowners, and tenants-producers. Source: Compiled by the authors.
We suggest considering the following version: an economic result divided in
proportion to the ratio of constant and variable costs in their total cost. Land rents
and profits of the entrepreneur are considered according to formulae (1.1) and (1.2);
they are displayed in cells 1.1 and 1.2. In particular, the formula in cell 1.1 is:
(W - (VU + C)) * C (1)
Rz =
(VU + C )
where:
W – production value, thousands of rubles/ha;
U – crop yields, cwt /ha;
V – constant of variable costs, thousands of rubles/ cwt;
С – constant of fixed costs, thousands of rubles/ha.
In this formula, the expression consisting of the numerator in parentheses
(VU+C) is the production cost. There is a difference between the cost of products
(W) and production costs (VU+C); it is the net income. We think that it should be
distributed between the owner and the entrepreneur as land rents and net income.
The number С/ (VU+C) is the share of constant costs in their total amount, taken as
a share of land rent in the distributed income.
The fraction in formula (1.2) VU/ (VU+C) is the ratio of the variable part of the
costs to their total sum. This number means that the share of the entrepreneur’s
income is equal to the share of the variable costs in the total amount. The
entrepreneur’s contribution is determined by the amount of costs associated with
the use of seeds of high-yield varieties, doses of mineral fertilizers, plant protection
agents, and other intensification factors that form artificial fertility and create rents
of the second type (rent II). Constant cost is related to technological properties and
natural fertility of land plots; it forms a land rent of the first type (rent I) and an
absolute rent. The first parity condition is expressed as the equality of two indicators
in formula (1.3) in cell 1.3 in Fig. 1. The process has two directions.
First, we should dwell on cell 2 – “capitalization factor.” This set can be as large
as the Land Cadastral Assessment Guidelines set. We can divide the land rents by
capitalization factor and move to cell 3 – “cadastral value,” then we can multiply
the result by “land tax rate,” and thus, determine the amount of this tax in cell 4
under number 1).
Second, we should proceed to cell 4.2 (“land tax”). In formula (5), we can
multiply the land rent by the personal income tax rate and find the second value of
the land tax (under the number 2). If all formulae are written correctly, and the land
tax rates and personal income tax comply with the law, the total tax must be equal.
The calculations given above comply with the second parity condition. The
cadastral value is the basis for taxation only because the taxation of real estate is
specific; also, it is a material economic category, while land rent is a financial source
of land tax, but its form is unacceptable for taxation. In other words, the land tax on
the cadastral value of the land plot is just a more convenient form for calculating
and collecting. However, the amount should be equal to the tax on land rent and the
tax on income received from the land plot by its owner, regardless of business
activity. Since this is the case, we can write formula (9) (formulas 6−8 are placed
in Fig. 1 cells 5–7):
𝑁𝑁z = Sз * Кzn = Rз ∗ КPit ; (9)
and formula (10):
Sz * Кzn = Rz ∗ КPit , (10)
if condition 11 is met:
Rz
Sz = , (11)
Kk
formula (10) may be:
𝑅𝑅z *Кzn
𝐾𝐾𝑘𝑘
= Rz * K𝑃𝑃𝑃𝑃𝑃𝑃 , (12)
Кzn
alternatively: = К𝑃𝑃𝑃𝑃𝑃𝑃 . (13)
Кк
If the value of the land tax obtained by formula (1) is not equal to the value
obtained by formula (2), there is no parity:
𝑅𝑅z *Кzn
≠ Rz * K𝑃𝑃𝑃𝑃𝑃𝑃 , (14)
𝐾𝐾𝑘𝑘
Therefore, the capitalization factor (Кк) is incorrect; it must be overridden by
expression (15):
К
𝐾𝐾k = K zn , (15)
𝑃𝑃𝑃𝑃𝑃𝑃
This formula (2) is written in cell 2 (“capitalization factor”), but it was not used.
The capitalization factor is subject to adjustment to restore parity (formula 14). This
situation is due to the fact that the current cadastral land valuation technique does
not have clear criteria and standards for determining the factor. If the capitalization
factor is fully justified or established by law, the land tax rates can be adjusted. In
any case, formula (15) expresses the second condition of parity of land relations, in
this case, between local self-government bodies and the owner of the land plot. The
scheme (Fig. 1) contains another route: from land rents down to the rent, and from
it, the path goes to the rent tax, which is calculated according to formula (7). The
tenant and the landowner use these factors to trade between them to establish an
acceptable rent for both. Cell 5 contains settings on the third condition parity
according to formula (6). Parity on the third condition requires equality between
rent and land rent (calculated rental income). We also check that any of the land tax
formulae give the same result. If the rent is equal to the land rent (ideally, it should),
then personal income tax from the rent, defined by formula (16):
N z = Az * K pit , (16)
should be equal to the land tax calculated by the two variants presented previously
( N z = S z * К zn (4) и 𝑁𝑁z2 = Rz * К𝑃𝑃𝑃𝑃𝑃𝑃 (5)). All results must be equal or have a
1
few differences. There is the basic condition of parity of land relations in the
agricultural sphere. We should note that all of the above applies to personal income
tax on all rents, although to avoid double taxation, this tax must be calculated by
the formula:
N a = ( Az − N z ) * K pit , (17)
The results of the three variants of calculations (formulas 4, 5, and 16) must be
equal or have a few differences in cell 7. This cell is the result expressing the
aggregate parity of land relations, combining the control results of the three
particular conditions listed above. However, if the land tax rate is 0.3% of the
cadastral value and it is privileged, the land tax on the value should be less than the
tax on the land rent. The formula (5) of cell 4 and the expression in cell 7 must be
adjusted based on the condition (18):
К znl , (18)
N zl = N a *
К zn pol
where:
Nzl – amount of preferential tax, rubles. /ha;
Кznl – preferential land tax rates, %;
Кzn pol – land tax rates, %.
4 Discussion
Agricultural land is inelastic. Therefore, currently, the land is expensive and will
be even more expensive in the future because of digitalization and the growing
economic agricultural business. The land shall be using the operating technique.
First, the land should be valued at the lowest interest rate of the bank deposit.
Second, there must be additional lowering factors. As a result, the opposite happens:
it is recommended to use a technique with sufficiently high bets (Ministry of
Economic Development of the Russian Federation, 2017a; Ministry of Economic
Development of the Russian Federation, 2017b), and supplement them with
discounts on bargaining for land plots of agricultural use from 10% to 20% in the
“active market” and from 6% to 30% – in the “passive” market. We should note that
the developers of the methodological recommendations indicated in Annex No. 11
that “the selection of the capitalization rate value is carried out on the basis of the
analysis of the real estate market for each segment” (Ministry of Economic
Development of the Russian Federation, 2017a; Ministry of Economic Development
of the Russian Federation, 2017b). The experts also warn, “in case of significant
changes in the real estate market, the data are subject to mandatory adjustment”
(Ministry of Economic Development of the Russian Federation, 2017a; Ministry of
Economic Development of the Russian Federation, 2017b). Besides, BEFL used an
“annual rental multiplier” in their study on agricultural land market analysis in
several regions of Russia (BEFL, 2015). In the context of this paper, this term refers
to the ratio of the value of the land to the annual rental rate. In fact, this is the inverse
of the capitalization factor established in the land market. There is a “period of
capitalization” of land rents. We have a numerical example with BEFL “annual
rental multiplier in Table 1.” As for the cadastral value, the capitalization factor
ranges from 0.043 (in the Kursk region) with a capitalization period of 23 years to
0.065 (in Mordovia) with a capitalization period of 15 years, with a difference of
1.53 times (BEFL, 2015). In the first round of the cadastral valuation of agricultural
land in Russia, the capitalization factor was 0.03 with a capitalization period of 33
years. Consequently, the cadastral value was 33 times higher than the rental income,
and the “annual rental multiplier” was 33.
Table 1 presents the results of calculations for several variants to increase the
value of the land rent capitalization factor. These results were obtained when
assessing the initial data on land rent according to the author’s technique. †. As such,
the impact of the land rent capitalization factor, namely, the importance of the factor
in the valuation procedure, is visible.
† Method and electronic model of updating the cadastral value of agricultural land, based on
the use of information of the annual accounting report of agricultural organizations
accumulated by the Ministry of Agriculture of the constituent entities of the Russian
Federation.
Тable 1. Dependence of cadastral value and land tax on the value of land rent capitalization
factor when assessing the results of winter grain crop cultivation in agricultural
organizations of the Saratov region in 2016.
Land Cadastra Land tax, Versions of the values of
Name of the rent, l cost, RUB/ha : land rent capitalization
administrative thou. thou. factor, thou. RUB/ha
district RUB/ RUB/ on on 0.05 0.067 0.1
ha ha cadas land cadast cadastra cadastr
tral rents ral l cost al cost
value cost
1 2 3 4 5 6 7 8
Standard 0.0231 0.003 0.13 0.05 0.067 0.10
Ozinsky district 0.071 3.076 9.23 9.23 1.42 1.06 0.71
Novouzensky
district 0.157 6.802 20.92 20.41 3.13 2.34 1.57
Pitersky district 0.163 7.062 21.72 21.19 3.26 2.43 1.63
Saratovsky
district 0.230 9.965 30.65 29.90 4.60 3.43 2.30
Voskresensky
district 0.255 11.048 33.98 33.15 5.10 3.81 2.55
Lysogorsky
district 0.272 11.785 36.25 35.36 5.43 4.05 2.72
Baltaysky
district 0.325 14.081 43.31 42.30 6.51 4.86 3.25
Petrovsky
district 0.359 15.555 47.85 46.68 7.18 5.36 3.59
Marxovsky
district 0.383 16.594 51.04 49.80 7.66 5.72 3.83
Red Army
district 0.392 16.984 52.24 51.01 7.85 5.86 3.92
Romanovsky
district 0.923 39.991 123.6 119.9 18.45 13.77 9.23
Kalininsky
district 0.935 40.511 124.6 121.5 18.69 13.95 9.35
Sovietsky
district 0.977 42.331 130.2 127.0 19.53 14.58 9.77
Total 0.536 23.224 71.43 69.68 10.71 7.99 5.36
max 0.977 42.331 130.2 127.0 19.53 14.58 9.77
min 0.071 3.076 9.46 9.23 1.42 1.06 0.71
Source: Compiled by authors based on (Adadimova & Polulyakh, 2020).
For the numerical example, in the first and second versions, we took such
capitalization coefficients that they are in the range of the actual data given by BEFL
(2015). In the third version, the capitalization coefficient is close to the level
recommended by the 2017 guidelines. (Ministry of Economic Development of the
Russian Federation, 2017a). So that the version corresponds to the preferred option,
the capitalization coefficient must be equal to 0.115. Then the amount of land tax
will be only 20% of the personal income tax on the rent for the land, which will be
5 times less.
Thus, we can get different results of the cadastral value of land and the amount
of land tax if we manipulate the value of the capitalization coefficient at the same
amount of land rent: the most crucial evaluation criterion. Therefore, the method of
determining the capitalization rate of land rent should be carefully justified. In any
case, this circumstance requires developing conditions and a mechanism for
controlling the parity of land relations in agriculture. Furthermore, shareholders can
use land rent, calling it “imputed income,” and if the owner uses the land
themselves, call it “alternative costs.”
5 Conclusion
The research results allow one to justify the need to introduce the term “parity of
land relations in the agricultural sector of the economy,” to develop conditions for
the formation and a procedure for ascertainment existence and control. Parity of
land relations is a sustainable relationship between actors with the authority and
ownership of land (right to use, own, and dispose of land) regarding the attribution
of land use results as the main means of production in agriculture. The formation
and functioning of parity relations imply several conditions and criteria.
The first condition implies that the parity between the landowner and the tenant
is established during the cadastral valuation of land to distribute the net income
received from the land plot. The parity between the land rent and the entrepreneur’s
income is determined so that the land rent and the net income must be proportional
to the contribution of each of the entities mentioned above to the creation of the
entrepreneur’s income. Net income is identified by the following ratios
(respectively): (1) natural soil fertility and induced soil fertility; (2) fixed costs and
variable costs in the total estimated cost; (3) the cost index and the return index,
which form the efficiency coefficient of intensification.
The second condition states that the land tax, which is obtained when calculating
the percentage rate of the cadastral value of the land plot, is equal to the tax on
personal income from the calculated rent for the land. The parity between the owner
of the land plot and the local authorities is regulated by the capitalization coefficient
of the land rent if the interest rates of the land tax and the personal income tax cannot
be changed; or by the interest rate of the land tax if the capitalization coefficient
cannot be objectively changed.
The third condition claims that the landowner and its tenant must maintain parity
in the amount of rent. Thus, the rent is equal to the estimated rental income (land
rent) that cadastral officers use when calculating the cadastral value of land plots.
Finally, according to the basic condition of parity of land relations in the
agricultural sector of the economy, the results of both versions of land tax
calculation should be equal to the tax on income of individuals from the rental
charge (with land tax in it). Therefore, the land tax calculation results for the three
options should be equal, justifying compliance with the three primary conditions of
parity.
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