Article 73-27-2Reduction, etc. of Real Property Acquisition Tax on the Acquisition of an Existing House Not Meeting Earthquake Resistance Standards

①Where an individual acquires an existing house not meeting earthquake resistance standards, and that individual, within six months from the day of acquiring that existing house not meeting earthquake resistance standards, carries out seismic retrofitting on that existing house (meaning seismic retrofitting prescribed in Article 2, paragraph (2) of the Act on Promotion of Seismic Retrofitting of Buildings (Act No. 123 of 1995), excluding partial removal and site preparation), obtains certification, as provided by Order of the Ministry of Internal Affairs and Communications, that the dwelling conforms to earthquake resistance standards, and uses that dwelling for his or her own residence, a prefecture is to reduce, from the amount of real property acquisition tax imposed on the acquisition of that existing house not meeting earthquake resistance standards, the amount obtained by multiplying the tax rate by the amount that was to be deducted pursuant to the provisions of Article 73-14, paragraph (1) of the Local Tax Act in force at the time when that existing house not meeting earthquake resistance standards was newly constructed.

②Where a prefecture assesses and collects real property acquisition tax imposed on the acquisition of a dwelling, and the acquirer of that dwelling has, as provided by the Prefectural Ordinance of the prefecture concerned, made a declaration to the effect that the provisions of the preceding paragraph are to apply to that real property acquisition tax, and that declaration is found to be true, the prefecture is to defer the collection of the portion of the amount of real property acquisition tax relating to that dwelling that is equivalent to the amount to be reduced under the provisions of that paragraph, for a period limited to within six months from the day of that acquisition.

③The provisions of Article 73-25, paragraphs (2) and (3) and the preceding two Articles apply mutatis mutandis to the deferral of collection and rescission thereof of the amount of real property acquisition tax in the case referred to in the preceding paragraph, and to the refund of local government levies relating to that real property acquisition tax in the case referred to in paragraph (1).