"Good Landlords Property Tax Reduction Offered" ... Ulsan City Provides Up to 2 Million KRW Property Tax Support

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Ulsan City is promoting the 'Good Landlord Property Tax Reduction Project' again this year, following last year.

The 'Good Landlord Property Tax Reduction' is a project that reduces the property tax for building owners who voluntarily lower rent for small business owners struggling due to the prolonged COVID-19 pandemic.

The reduction targets building owners who have reduced rent by more than 10% for at least 3 months this year.

The reduction amount is 1 million KRW each for the 2022 property tax and local resource facility tax on buildings, totaling 2 million KRW.

The application period is from the 1st of this month until the end of January 2023.

Eligible applicants must submit the reduction application form, a copy of the lease contract, and financial transaction statements to the tax office of the district or county where the building is located.

Applications will be reviewed by the district or county office, which will then refund the property tax. Those who did not apply for the good landlord reduction last year can also apply this year retroactively to receive the property tax reduction.

For more details, please contact the tax office of the respective district or county.