Frequently Asked Questions (Property Tax)

QuestionWhat is the revaluation of fixed assets?

Response

The assessed value of land and buildings is, in principle, revalued once every three years, and the price as of the assessment date (January 1) is registered in the Property Tax ledger. For the 2nd and 3rd fiscal years, no new valuation is conducted, and the price from the base fiscal year is maintained as is. However, in the 2nd and 3rd fiscal years, (1) land or buildings newly subject to Property Tax, and (2) land or buildings for which it is inappropriate to use the base fiscal year's price due to changes such as land category conversion or building extensions and renovations, will be newly assessed and their prices determined.