Supplementary Provisions, Article 29-2Reduction 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 farmland in an urbanization promotion area to which Article 19-3 of the Supplementary Provisions applies becomes farmland other than farmland in an urbanization promotion area during the period from the day following the assessment date for the relevant fiscal year until the last day of that year, a municipality is to reduce, from the fixed assets tax amount or city planning tax amount on that farmland in an urbanization promotion area, respectively, the amount equivalent to the difference between that fixed assets tax amount or city planning tax amount and the amount of tax calculated on the assumption that Article 19-3, Article 19-4, Article 27 or Article 27-2 of the Supplementary Provisions did not apply to that farmland in an urbanization promotion area.