Frequently Asked Questions (Property Tax)

QuestionWhat is a reassessment of fixed assets?

Response

The assessed value of land and buildings is generally re-evaluated every three years, and the price as of the assessment date (January 1) is registered in the Property Tax ledger. In the second and third years, no new evaluation is conducted, and the price from the base year is maintained. However, in the second and third years, for (1) land or buildings that have newly become subject to Property Tax, and (2) land or buildings for which the price from the base year is not appropriate due to changes in land use or renovations, a new evaluation will be conducted, and the price will be determined.