Enforcement Rules for the New Town Development Act Article 27

Where a landownership holder has applied for postponement of commencement under Paragraph 2, Article 54 of the Building Act and the application has been approved, and thus the time limit for construction and utilization as prescribed in Paragraph 1, Article 18 of the Act is exceeded, no additional land value tax will be levied. However, in case construction is still not commenced or finished upon expiration of the postponed period, thus making the building license invalid, additional land value tax will be levied for the period computed from expiration of the time limit for construction and utilization to commencement of building.