Article 702-4-2Reduction of City Planning Tax on Houses Replacing Houses Lost, etc. in an Earthquake or Other Disaster

With respect to the city planning tax imposed on a house acquired or rebuilt, where the owner of a house (including, where the house is property in co-ownership, a person holding a share in it) lost or damaged by an earthquake, storm, flood, fire or other disaster (hereinafter in this Article referred to as "earthquake or other disaster"), or any other person specified by Cabinet Order, has, within an area specified by Cabinet Order, during the period from the date of occurrence of that earthquake or other disaster until the day on which four years have elapsed counting from March 31 of the year following the year in which that date falls, 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, as provided by Cabinet Order, reduce, only for the city planning tax for four fiscal years beginning with the fiscal year for which January 1 of the year following the year in which falls the day on which that house was acquired or rebuilt (where that house has been rebuilt twice or more on or after the date of occurrence of that earthquake or other disaster, the day on which it was first rebuilt; the same applies hereinafter in this Article) (or that day, if the day on which that house was acquired or rebuilt is January 1) is the assessment date, an amount equivalent to one-half of the amount calculated as provided by Cabinet Order as the tax amount for the portion of the city planning tax amount relating to that house to which this Article applies (where that house is a building held in unit ownership or is property in co-ownership, the total of the amounts calculated as provided by Cabinet Order for each unit owner (meaning a unit owner prescribed in Article 2, paragraph (2) of the Act on Building Unit Ownership) or each co-owner as the tax amount for the portion to which this Article applies), from the city planning tax amount relating to that house.