Reported 12 months ago
Starting May next year, due to the new Property Tax 2.0 implemented through a nationwide household registration system, multiple property owners might face significantly higher property tax bills if they don't plan ahead. Suggestions from Taipei Real Estate Brokers Association Chairman Su Jincheng include reducing the number of properties held, renting out idle properties, and registering properties for personal use to adapt to the new tax system. The Property Tax 2.0 aims to discourage property hoarding and encourage more effective property utilization by imposing higher taxes on property owners with multiple properties. It also encourages builders to sell surplus properties within two years to avoid higher tax rates. Overall, the policy is designed to promote fair housing practices and control property prices.
Source: YAHOO