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Jakarta Post

Houses worth Rp 2 billion or less to be freed from tax

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, May 3, 2017   /   08:30 pm
Houses worth Rp 2 billion or less to be freed from tax Apartment buildings fill up Jakarta's cityscape. (Tempo/Tony Hartawan)

The Jakarta city administration is currently drafting a gubernatorial regulation exempting home owners of houses worth less than Rp 2 billion (US$150,000) from the Urban and Rural Land and Building Tax (PBB-P2).

The regulation is expected to be completed this month, Deputy Governor Djarot Saiful Hidayat said at City Hall on Wednesday.

He added that the new regulation would also ease the property transfer fee (BPHTB) for veterans and retirees to ease their financial burden.

“All of the details will be included in the regulation. We plan to finish it this month,” Djarot said as quoted by kompas.com.

The administration has previously issued Gubernatorial Regulation No. 259/2015 on tax exemption for houses valued at less than Rp 1 billion. Meanwhile, shop houses or places of business worth less than Rp 1 billion are still required to pay the tax. (vny)