Cheonan City Offers 50% Property Tax Reduction for Multi-Child Households with Newborns This Year

For Households Owning a Single Home
with an Official Value of 900 Million Won or Less

Cheonan City in South Chungcheong Province will provide a 50% reduction in property tax for multi-child households who have given birth to a child this year and now have two or more children.

On June 17, Cheonan City announced that an amendment to the municipal tax reduction ordinance, which includes this measure, recently passed the Cheonan City Council and will be applied to property tax bills starting next month.

This tax reduction was introduced to alleviate the financial burden on families with newborns and young children.

The beneficiaries are parents in multi-child households who gave birth to a child this year and own a single home with an officially assessed value of 900 million won or less.

Kim Miyeong, head of the Taxation Division, stated, "We hope this property tax reduction will significantly ease the burden of housing costs and play an important role in encouraging childbirth," adding, "We will continue to do our best to make Cheonan a city where it is easy to have and raise children."