Frequently Asked Questions (Property Tax)

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

Response

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