Gyeongnam Province Grants Total Property Tax Reduction of 428 Million KRW to Landlords Who Lowered Rent
1,340 Participants by July 9 Supporting 1,874 Small Business Stores
[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 19th that it has reduced property tax on buildings by 428 million KRW for 1,340 landlords who lowered rent for small business owners this year.
As of the 9th, a total of 1,874 small business owners in the province benefited from rent reductions totaling 5.51 billion KRW.
A tenant operating a sports class in Gyeongnam experienced a decrease in existing students, causing difficulties in running the center, but was able to maintain the business as the landlord reduced the rent by 50% for a total of 12 months.
The province increased the property tax reduction rate up to 75% in April.
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In particular, this year, even rent reductions made after the property tax was imposed can be supported through future refund applications.
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