Pyeongtaek to Operate Application Period for Property Tax Reduction for Kind Landlords

[Suwon Ilbo=Reporter Jung Jun-sung] Pyeongtaek City announced on the 23rd that it will provide property tax reduction support this year as well, following last year, for building owners who have reduced rent for small business owners facing difficulties due to COVID-19.

The city said that following a local tax reduction agreement approved by the city council on the 14th to reduce property taxes by 50% of the 2021 rent reduction amount for landlords participating in the kind landlord campaign this year, it plans to operate an application period for property tax reduction from December 1 to January 31, 2022.

Building owners who reduced rent to tenants who are small business owners under the 'Act on Protection and Support of Small Business Owners' are eligible for the tax reduction. The city plans to apply a 50% reduction of the 2021 rent reduction amount from the property tax, with the limit being the July building property tax and September attached land property tax reduced according to this year's assessed rent.

This kind landlord tax reduction will be implemented temporarily in 2021, and high-end entertainment venues, entertainment establishments, and gambling or speculative businesses are excluded from the tax reduction eligibility.

In addition, landlords who reduced 2020 rent under the local tax reduction agreement and did not receive property tax reduction can apply for reduction at any time and will have the tax reduction applied according to last year's local tax reduction agreement.

Applications for the tax reduction should be submitted to the Taxation Division and each branch tax office of Pyeongtaek City Hall with ▲local tax reduction application form ▲small business owner confirmation certificate of the tenant ▲lease agreement ▲documents that can verify the reduced rent (lease modification or agreement contract, tax invoice, bank transaction details, etc.).

A city official stated, "In addition to property tax reduction, for taxpayer convenience, a joint national and local tax assistance window will operate in three regions—Anjung, Songtan, and Pyeongtaek—during the 2020 personal local income tax (comprehensive income) reporting and payment period (May 1-31, 2021). In particular, we urge taxpayers to visit the Songtan branch office and Pyeongtaek Tax Office between May 24-31 when the payment deadline is imminent."