Suwon Applies Property Tax Deduction for 'Good Landlords'

[Suwon Ilbo=Seo Dong-young Reporter] Starting from the 5th, Suwon City will accept applications for property tax deductions from Suwon-area 'good landlords' who have reduced rent for small business owners.

The city will provide property tax refunds to landlords who voluntarily reduced rents last year and this year to help small business owners suffering severe damage from COVID-19.

The deduction rate is determined based on the actual rate and duration of rent reduction. In particular, an additional multiplier is applied according to the lease period, with higher deduction rates for longer reduction periods. The additional multipliers are 2x for less than 3 months, 3x for 3 months to less than 7 months, and 4x for 7 months or more.

For a landlord who reduced monthly rent of 1 million won by 300,000 won for 9 months at a business location, a 90% deduction rate will be applied. In other words, only 10% of the property tax is paid.

Required documents for deduction application include ▲Local tax deduction application form ▲Copy of lease contract ▲Certification of rent reduction agreement (amended contract, agreement letter, etc.) ▲Rent payment confirmation documents (tax invoice, financial transaction details, etc.) ▲Small business owner confirmation from tenant or prior consent form for administrative information sharing, etc.

In particular, the local tax deduction application form and prior consent form for administrative information sharing require signatures with the tenant's confirmation and consent.

A city official stated, "Through property tax deduction support for good landlords, we hope the good landlord movement that provides strength to both landlords and tenants and contributes to revitalizing the local economy will spread further."

For inquiries, contact the Human Call Center and each district office's property tax team. ▲Suwon City Human Call Center (1899-3300) ▲Jangan-gu (031-228-5317, 5319) ▲Gwonseon-gu (031-228-6318, 6319) ▲Paldal-gu (031-228-7317, 7318) ▲Yeongtong-gu (031-228-8581, 8582)