Is property tax suddenly so expensive this year? In fact, it may be that you just haven’t “moved your household registration”!
Property taxes have become more expensive this year, mostly because the property was not declared as a self-occupied residence, resulting in the non-owner-occupied tax rate being levied. Property Tax 2.0 has been implemented since 2015, and the tax rate for owner-occupied properties has been reduced to 1%, while the maximum tax rate for non-owner-occupied properties is 4.8%. If you miss the declaration, the Ministry of Finance has extended the deadline to June 2. Remember to transfer your household registration and apply as soon as possible to enjoy the preferential tax rate.
