Frequently Asked Questions (Property Tax)

QuestionWhy has the Property Tax for the newly built house increased suddenly a few years ago?

Response

For newly built houses, by meeting certain conditions, the Property Tax will be reduced by an amount equivalent to half of the Property Tax for that house for up to three years after it is assessed.
In addition, for fire-resistant residential buildings of medium and high-rise that are three stories or higher, by meeting certain conditions, the Property Tax will be reduced by an amount equivalent to half of the Property Tax for that residence for a maximum of five years from the time it is assessed.
Therefore, due to the end of the reduction application period, the tax amount has returned to its original amount, resulting in a higher tax amount from this fiscal year.

• (Note) The scope of the reduction applies to the residential area, up to an equivalent of 120 square meters of floor space per household.
• (Note) If you have received certification for a long-term excellent housing, it will be extended for an additional two years.

Period for receiving Property Tax reduction for newly built houses

	Not a long-term excellent house	Long-term excellent housing
A. General housing (excluding type I housing)	Three years after new construction	5 years after new construction
I. Fire-resistant residential buildings of three stories or more	5 years after new construction	7 years after new construction