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Outline of Property Tax and City Planning Tax

 

 

Property Tax

 

City Planning Tax

Taxing
authority

Municipalities
(prefectures for some depreciable assets)

Municipalities
(levied by 791 local government bodies)

Assets subject
to taxation

Land, buildings and depreciable assets
Land :

176,790,000 pieces

Buildings :

59,240,000 pieces

Land and buildings located within the areas of urban districts or city planning districts designated by local ordinances
Land :

39,100,000 pieces

Buildings :

29,400,000 pieces

Tax payer

Owners of land, buildings and depreciable assets
Land :

36,740,000 persons

Buildings :

35,610,000 persons

Depreciable assets :

4,070,000 persons

Owners of land or buildings
Land :

16,680,000 persons

Buildings :

19,350,000 persons

Tax base

Price (fair market price)
reevaluated every 3 years (land and buildings)

same as Property Tax

Tax rate

The standard rate

-->

1.4%(adopted by 90% of the municipalities)

The maximum rate

-->

2.1%

The maximum rate : 0.3%
(The actual rate adopted)

Tax exemption
thresholds

Land :

300,000 yen

Buildings :

200,000 yen

Depreciable assets :

1,500,000 yen

Tax is exempted if the value of land or buildings is less than the exemption thresholds established for property tax

Additional
information

Special measures for residential land
Burden adjustment measures
(Revenue)
Land :

3,643,000 million yen

Buildings :

3,433,000 million yen

Depreciable assets :

1,666,100 million yen

Special measures for residential land (from FY 1994)
Burden adjustment measures
(Revenue)
Land :

865,900 million yen

Buildings :

503,200 million yen


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