Geochang-gun, Property Tax Relief for Residents Affected by Heavy Rain Damage

Property Tax Reduction of 1.5 Million Won on Farmland, Housing, and Buildings

Geochang County Office Building Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam announced on the 11th that it will implement property tax reductions on farmland, houses, and buildings after the county council's resolution to reduce the property tax burden on residents affected by heavy rain damage following the government's declaration of a special disaster area.

The county will provide a 100% reduction in the 2020 property tax for actual owners of farmland that has been lost or buried and houses and buildings that have been flooded or damaged, based on data registered and confirmed in the national disaster management system.

Currently, there are 1,164 beneficiaries of the property tax reduction, with a total tax amount of about 1.5 million won, and additional reductions will be implemented if further heavy rain damage is confirmed.

The September regular tax bill will reflect the reduction, and the property tax on houses and buildings imposed and paid in July will be refunded.

Gu In-mo, the mayor of Geochang-gun, said, "I hope this property tax reduction will help reduce the tax burden on residents who suffered property damage due to the heavy rain and provide some relief to the flood victims."

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