Hapcheon-gun Lowers Rent for Small Business Owners... Extends Property Tax Reduction

Submission to Eup/Myeon Offices by June 17

Hapcheon County Office, Gyeongnam.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam Province, is carrying out a 'Win-Win Landlord Movement' to reduce rent in order to alleviate the burden on small business owners who are experiencing economic difficulties due to the prolonged COVID-19 pandemic.

This time, to encourage participation from building owners, the property tax reduction has been extended.

The reduction applies to buildings where rent has been lowered for small business owners according to the "Act on the Protection and Support of Small Business Owners" as of the tax base date (June 1). If the average monthly rent reduction rate exceeds 5% continuously for three months between January and December of this year (if the reduction period is less than three months, it is converted to three months; if it exceeds three months, an additional 5% is added), property tax will be reduced by 10% to 75% (in 5% increments) according to the monthly rent reduction rate.

Applications for property tax reduction can be submitted at the town or township office where the building is located, with the following documents: ▲local tax reduction application form ▲lease contract ▲copy of bankbook, tax invoice, or other documents verifying the rent reduction.

Park Soo-hyun, Director of the Finance Department, said, "We hope that small business owners and landlords will overcome the crisis through mutual cooperation and that landlords participating in the Win-Win Landlord Movement will be informed about receiving tax support."

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