5 Reasons for Tax Breaks to Extend Life Span of Houses
Tokyo is mulling over a new taxation plan to help promote longer-lasting homes.
The average life-span of a Japanese house is 30 years.
By contrast, the U.K. is 75 years and the U.S. is 44 years.
Japanese are quick to build new homes even if the existing one is still more than suitable.
Tokyo wants:
1. people to build more durable homes,
2. homes that are easier to maintain and repair
3. to revitalize the second-home market
4. reduce home purchasing costs
5. curb destruction of the environment
Proposals include a 75% property tax cut for the first three years, increased acquisition exemption from 12 million to 15 million and reduced registration and license taxes.
In the end, Japan hopes secondhand homes will become more desirable, affordable and less damage to the environment will happen.
Japan is the only place I know of where people buy homes based on the value of the land and not the house and land. Homes are considered of no value when they are existing on a property.
Yeah, I sold the land my house was on and they got the house on it for free. Yup, and still living there 10 years later.
Will you buy a secondhand-home?
Tags: 2958, 3197POSTED IN: Doing Business in Japan
0 opinions for 5 Reasons for Tax Breaks to Extend Life Span of Houses
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: