The Equalization of Land Rights Act Article 16

In case the landowner fails, during the period of assessment or reassessment of land value, to declare the value of his land within the time limit, then 80 percent of the announced land values shall be deemed as his declared land value. In case the landowner declares land value during the announcement period, and the land value declared is higher than 120 percent of the announced land value, the 120 percent of the announced land value shall be deemed as his declared land value. If the land value declared by the owner is lower than 80 percent of the announced land values, the government reserves the right to purchase his land at the announced land value, or the 80 percent of the announced land value shall be deemed as his declared land value.