Article 73-24Reduction of Real Property Acquisition Tax on the Acquisition of Land Used for Housing

①In any of the cases falling under any of the following items, a prefecture is to reduce, from the amount of real property acquisition tax imposed on the acquisition of that land, the amount obtained by multiplying 1,500,000 yen by the tax rate (where the amount obtained by multiplying the figure obtained by dividing the price that is to be the tax base of real property acquisition tax relating to that land by the figure expressing the area of that land in square meters, by the figure expressing in square meters an area twice the floor area, per dwelling unit (for an apartment house, etc., one independently partitioned part used for residence, as specified by Cabinet Order), of the house newly constructed on that land (limited to a house specified by Cabinet Order; hereinafter in this Article referred to as a "dwelling eligible for the special measure") (where that figure exceeds 200, it is 200) exceeds 1,500,000 yen, that multiplied amount, by the tax rate).

②In any of the cases falling under any of the following items, a prefecture is to reduce, from the amount of real property acquisition tax imposed on the acquisition of that land, the amount obtained by multiplying 1,500,000 yen by the tax rate (where the amount obtained by multiplying the figure obtained by dividing the price that is to be the tax base of real property acquisition tax relating to that land by the figure expressing the area of that land in square meters, by the figure expressing in square meters an area twice the floor area, per dwelling unit, of the existing house, etc. meeting earthquake resistance standards on that land (meaning existing houses meeting earthquake resistance standards and, among newly constructed houses eligible for the special measure that have not yet been used for residence by any person, those other than those for which the provisions of the preceding paragraph apply with respect to the land relating to that dwelling eligible for the special measure; the same applies hereinafter in this paragraph) (where that figure exceeds 200, it is 200) exceeds 1,500,000 yen, that multiplied amount, by the tax rate).

③In any of the cases falling under any of the following items, a prefecture is to reduce, from the amount of real property acquisition tax imposed on the acquisition of that land, the amount obtained by multiplying 1,500,000 yen by the tax rate (where the amount obtained by multiplying the figure obtained by dividing the price that is to be the tax base of real property acquisition tax relating to that land by the figure expressing the area of that land in square meters, by the figure expressing in square meters an area twice the floor area, per dwelling unit, of the existing house not meeting earthquake resistance standards on that land (meaning, among existing houses, those other than existing houses meeting earthquake resistance standards; the same applies hereinafter in this Article through Article 73-27-2) (where that figure exceeds 200, it is 200) exceeds 1,500,000 yen, that multiplied amount, by the tax rate).

④Where a person who has acquired land acquires land adjacent to that land within one year from the day of acquiring that land, the provisions of the preceding three paragraphs apply by deeming the earlier and later acquisitions of land to be the acquisition of one piece of land, and the day on which land was first acquired to be the day on which those lands were acquired.

⑤The provisions of paragraphs (1) through (3) apply only where a declaration to the effect that those provisions are to apply to the acquisition of the land has been made by the acquirer of that land, as provided by the Prefectural Ordinance of the prefecture concerned, except where deferral of collection has been granted pursuant to the provisions of paragraph (1) of the following Article for the real property acquisition tax imposed on the acquisition of that land and in other cases specified by Cabinet Order. In this case, where that land is land adjacent to land acquired within one year from the day of acquiring that land, they apply only where a declaration to the effect that those provisions are to apply has been made with respect to the acquisition of the land relating to the first acquisition.

⑥Even where there was no declaration under the first sentence of the preceding paragraph or the second sentence of that paragraph, if the acquisition of that land is found to fall under the requirements prescribed in paragraphs (1) through (3), a prefecture may, notwithstanding the provisions of the preceding paragraph, apply the provisions of paragraphs (1) through (3).

⑦In addition to what is provided for in the preceding three paragraphs, matters necessary for the application of the provisions of paragraph (1) in the case where the provisions of Article 73-14, paragraph (2) apply to a dwelling eligible for the special measure, and other matters necessary for the application of the provisions of paragraphs (1) through (3), are specified by Cabinet Order.