Land Tax Act Article 39-1

For land that has been rezoned, a 40% reduction in land value increment tax shall apply at the time of the first transfer following the rezoning.For land acquired through zone or section expropriation and compensated in cash for its land value, the provisions of the first paragraph of the preceding article shall apply, exempting the land from land value increment tax. Those receiving cash compensation due to the land in lieu of compensation insufficient for the smallest building unit as per Paragraph 3, Article 54 of the Equalization of Land Rights Act shall also be exempt from land value increment tax.For land acquired through zone or section expropriation and compensated with the land in lieu of compensation according to Paragraphs 1 and 2, Article 54 of the Equalization of Land Rights Act, the land value increment tax shall be exempt. However, at the time of the first transfer after receiving the land in lieu of compensation, the original land value shall be based on the actual value of the land in lieu of compensation received by the original landowner, and the total amount of value increment shall be calculated for levying the land value increment tax, applying mutatis mutandis the provisions of the first paragraph.