Daejeon City to Continue Property Tax Reduction for 'Good Landlords' in Second Half of Year

Provided by Daejeon City

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will continue to offer property tax reduction benefits to ‘Good Landlords’ in the second half of the year.

On the 16th, according to the city, the Daejeon City Council recently approved a ‘local tax reduction consent proposal’ with this content.

The property tax reduction targets for Good Landlords applicable in the second half include landlords who reduced commercial rent from July to December. However, according to related laws, high-end entertainment establishments are excluded.

To apply for the reduction, landlords must submit an application form proving the rent reduction to the property tax department of the respective autonomous district. Applicants can then receive a refund on the property tax paid this year based on the rent reduction rate after approval by the district council.

Earlier, the city and five districts also provided property tax reduction benefits to Good Landlords in the first half of this year. Through this, 611 Good Landlords received a total tax reduction of 266 million KRW, averaging 430,000 KRW per person in tax support.

The city estimates that 1,004 tenants benefited from the rent reduction through this program.

Seo Cheol-mo, Deputy Mayor of Daejeon City, said, “We thank the landlords who participated in the Good Landlord movement to ease the burden on small business owners, as well as the district offices and city council who sympathized with and supported the purpose of the tax reduction. The city will continue to help many landlords receive tax support in the second half to overcome difficulties caused by the spread of infectious diseases.”

This content was produced with the assistance of AI translation services.