Is there zakah on land?

Question : He says: I have a piece of land that I bought more than twenty years ago, and I am waiting for its price to increase. Do I have to pay zakah on it every year?

Answer : Yes, it is obligatory to pay zakah on it every year. That is, a man who buys land expecting to make a profit is a merchant, so he must pay zakah on it every year. But if he says, "I have no money; I have only this land. What should I do?" We say: Every year, estimate its value and record its zakah. You know that the value of goods may sometimes rise and sometimes fall. So, if he writes down its value every year and Allah makes it easy for him to sell it, he pays the zakah for every year that has passed. May Allah reward you.