BROKEN PROMISE?Ko Wen-je said during his election campaign that he would endeavor to uphold ‘residential justice’ and the policy belies that pledge, the KMT said
Date: Sep 11, 2015
By: Sean Lin / Staff reporter
A property tax cut proposed by the Taipei City Government yesterday came under fire from
the Chinese Nationalist Party (KMT) Taipei City Council caucus, with city councilors saying that the policy is aimed at benefiting construction companies.
The city government earlier this month proposed a tax cut that would reduce property taxes paid by construction companies from 3.6 percent of the estimated value of a property to 2 percent for each house they are selling.
Under a draft bylaw, the tax rate would apply for one year after a property is put on the market, after which it would be raised back up to 3.6 percent.
The 2 percent rate is lower than that for residents holding two properties — 2.4 percent — and much lower than the rate stipulated for people with three or more properties — 3.6 percent.
At a news conference, KMT Taipei City Councilor Chen Chung-wen (陳重文) criticized the policy, saying that it created double standards for construction companies and Taipei residents. [FULL STORY]