Frequently Asked Questions (Property Tax)

QuestionWhat is the reduction for newly built houses under Property Tax?

Response

For newly constructed houses, if certain conditions are met, up to 120 square meters of the floor area used as a residence will be eligible for a reduction.
The reduced amount is half of the Property Tax amount related to the residential portion. The reduction period for general residences is three fiscal years starting from the year when the Property Tax is newly imposed (five fiscal years for long-term superior housing). For mid-to-high-rise fire-resistant residences of three stories or more, such as condominiums, the reduction period is also five fiscal years (seven fiscal years for long-term superior housing).