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Application for deferred payment of provisional property tax

In any year of assessment, the Inland Revenue Department will assess the assessable value of the provisional property tax payable in the next year of assessment for owners who are subject to property tax. If the owner thinks that the assessable value is too high, he can apply for a deferment of the provisional property tax due to the following reasons:

• The estimated assessable value of the provisional property tax year of assessment may be less than 90% of the previous year

• The owner has sold or transferred the property during the provisional property tax year of assessment, and the assessable value is less than the previous year of assessment

• It is advantageous for owners to choose personal assessment in the tax year of provisional property tax payment, thereby reducing the overall tax

• The owner has objected to the property tax for the previous year of assessment

Owners who wish to apply for deferment of the provisional property tax must pay attention to the relevant deadlines. He must submit the application in writing and no later than:

• 28 days before the designated tax payment date for provisional property tax payment; or

• 14 days after the issuance date of the notice for payment of provisional property tax

The latter shall prevail.

The above information is for reference only. If in doubt, we welcome your tax inquiries

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