Article 352-3Reduction of Fixed Assets Tax on Houses, etc. Replacing Houses Lost, etc. Due to an Earthquake or Other Disaster

With respect to fixed assets tax imposed on a house that has been acquired or rebuilt where the owner of a house that was lost or damaged due to an earthquake or other disaster (including, where the house is property in co-ownership, a person holding a share in it) or any other person specified by Cabinet Order has, within an area specified by Cabinet Order, during the period from the date on which the earthquake or other disaster occurred until the day on which four years have elapsed counting from March 31 of the year following the disaster year, acquired a house that the mayor of the municipality finds to replace the lost or damaged house, or rebuilt the damaged house, a municipality is to, limited to fixed assets tax for four fiscal years whose assessment date is January 1 of the year following the year that includes the day on which the house was acquired or rebuilt (where the house was rebuilt two or more times on or after the date on which the earthquake or other disaster occurred, the day on which it was first rebuilt; the same applies hereinafter in this Article) (where the day on which the house was acquired or rebuilt is January 1, that day), as provided by Cabinet Order, reduce from the fixed assets tax amount relating to the house an amount equivalent to one-half of the amount calculated as provided by Cabinet Order as the tax amount relating to the portion, of the fixed assets tax amount relating to the house, to which this Article applies (where the house is a building held in unit ownership or property in co-ownership, the aggregate of the amounts calculated as provided by Cabinet Order for each unit owner or each co-owner as the tax amount relating to the portion to which this Article applies).