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Fatwa CenterCalculating Zakat on non-agricultural land
Question
I have some non-agricultural land, I want to know how am I supposed to calculate Zakaat? Will it be calculated on its price when it was purchased or on its current price?
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
If you had bought the land with the intention of trading then you have to pay Zakat on it when a whole lunar year elapses on the amount with which you bought the land. So the Zakat that has to be paid when it becomes due is calculated according to the value of the land in the market and not according to the price you originally paid for it.
Please refer to Fatwa 82333 about the Zakat on land which is used for investment. However, if you had bought the land without having the intention for business, then Zakat does not have to be paid on it. If you have agricultural land, then please refer to Fatwa 13152.
Allaah knows best.
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