✨This page is an AI summary of official information. Please check the official page before proceeding.
🏡 Housing & Community Open
Reduction and Exemption of Fixed Asset Tax
For new houses, the building tax amount is reduced to 1/2 for several years.
💡 The Bottom Line
There are special provisions to reduce the Fixed Asset Tax on land with houses or newly built buildings. Taxes may also be exempted during disasters.
🗓 5W1H Overview
👤 Who
Those who acquired a new house (if floor area and residence requirements are met)
📋 What
Reduction of Fixed Asset Tax for new houses (tax reduced by half for up to 3-5 years)
⏰ When
Within a certain period after construction (applicable for 3 years, or 5 years for condos)
📍 Where
Tax Division at City Hall (some apply automatically, others require an application)
❗ Why
To promote home acquisition and support new housing investments
📝 How
A notice will be sent by the city when built. If unsure, check with the Tax Division.
⏱ Plan certification application: 1-2 weeks to prepare documents, about 15 minutes to submit at the counter
📖 Easy Explanation
Special Provisions for Residential Land (Reduction)
There is a special provision that reduces the tax on land where a house is built (residential land). For example, the assessed value of small-scale residential land (up to 200 square meters) is reduced to 1/6 for Fixed Asset Tax.
Reduction for Newly Built Houses
If you build a new house and meet certain requirements, the Fixed Asset Tax on the building will be halved for a few years after construction (3 years for general houses, 5 years for certified long-term excellent housing, etc.).
Exemption System
If you suffer major damage from a fire or natural disaster, or have special circumstances, your taxes may be reduced or exempted upon application.
✅ Checklist
- RequiredAvailable at the Property Tax Division or website.
- RequiredObtain at the Legal Affairs Bureau after construction.
- RequiredUsed to confirm the floor area and structure.
- RequiredTo confirm it is used as a residence. Issued within 3 months.
👥 Who Qualifies
- Those who own land or houses
- Those who built a new house
❓ FAQ
What kind of equipment gets a fixed asset tax reduction?
Machinery, equipment, and building attachments acquired by SMEs with certified advanced facility introduction plans are eligible.
How long is the reduction period?
The Fixed Asset Tax is reduced (zero to 1/2) for up to 3 years from the year following acquisition. The rate is set by city ordinance.
Where should I apply?
First, get plan certification from the Industrial Policy Division, then apply for the tax reduction at the Property Tax Division.
📎 Related Procedures
※AI summary. Please verify with the official page.
View Official Page ↗