Reported 11 months ago
The calculation of land value tax is not based on market price or property size, but on the total value of land publicized by the government. When changing residences, in addition to paying the consolidated property tax, there is also significant land value tax to consider. If the current home's land publicized value plus the tax already paid upon sale exceeds the old home's land publicized value, a refund can be obtained. However, caution is needed as within 5 years, the new home cannot be transferred or gifted between spouses, or the refunded tax might be demanded back. The story of Ms. Guo, who bought a new house for 28.2 million NT dollars in Banqiao, illustrates the complexities of this tax refund process.
Source: YAHOO