For land exempt from land value increment tax by law, the competent tax authority shall approve the transfer present value and issue a tax exemption certificate based on the following regulations, which shall be used to process the transfer registration of land ownership:
1. For public land exempt from land value increment tax according to the proviso in Article 28, the actual sale price shall be used; for land given or received as a gift by various levels of government, the transfer value shall be based on the assessed present value at the date the gift contract was signed.
2. For private land exempt from land value increment tax according to Article 28-1, the transfer value shall be based on the assessed present value at the date the gift contract was signed.
3. For land in lieu of compensation exempt from land value increment tax according to Paragraph 3, Article 39-1, the transfer value shall be based on the land value at the time the land in lieu of compensation was actually received during the zone expropriation.