Supplementary Provisions, Article 29-3Refund, etc. of Fixed Assets Tax and City Planning Tax Where Farmland in an Urbanization Promotion Area Becomes Farmland Other Than Farmland in an Urbanization Promotion Area

Where the fixed assets tax amount or city planning tax amount has been reduced pursuant to the preceding Article, and the fixed assets tax amount or city planning tax amount already collected exceeds the reduced fixed assets tax amount or city planning tax amount, the mayor of the municipality must, pursuant to Cabinet Order, refund the amount equivalent to the excess in each case, or appropriate it to the local government levies unpaid by the person entitled to the refund.