These Standards are enacted pursuant to the provisions of Paragraph 2, Article 12-1 of the Water Supply Act (hereinafter the Act).

The reductions or exemptions of land value increment tax imposed on land located in a water quality and quantity protection area that is designated as a water sources district under urban planning shall be subject to the Land Tax Act and the following provisions:
1. For agricultural zones, conservation zones, river zones, floodway zones, public facilities land, and other land-use zones whose regulatory provisions are the same as those of conservation zones, the tax will be reduced by 50%. In addition, the tax will be exempted under any of the following circumstances:

(1) For land that has been held before the announcement and implementation of the designated water sources district under urban planning, the first-time transfer or first-time transfer after inheritance occurs following the announcement and implementation.
(2) For land that has been held before the enforcement of Article 12-1 of the Act, the first-time transfer or first-time transfer after inheritance occurs following the enforcement.
2. For scenic zones, Type A scenic zones, and Type B scenic zones, the tax will be reduced by 40%. In addition, if the regulatory provisions are the same as those of conservation zones, the provisions of the preceding subparagraph shall apply.
3. For residential districts, the tax will be reduced by 30%.
4. For commercial districts and community centers, the tax will be reduced by 20%.

The estate tax or the gift tax imposed on land located in a water quality and quantity protection area that is designated as a water sources district under urban planning shall be subject to the following provisions unless otherwise prescribed by law:
1. For agricultural zones, conservation zones, river zones, floodway zones, public facilities land, and other land-use zones whose regulatory provisions are the same as those of conservation zones, 50% of the land value will be deducted. In addition, the entire land value will be deducted under any of the following circumstances:
(1) For land that has been held before the announcement and implementation of the designated water sources district under urban planning, the inheritance, first-time transfer, or first-time transfer after inheritance occurs following the announcement and implementation.
(2) For land that has been held before the enforcement of Article 12-1 of the Act, the inheritance, first-time transfer, or first-time transfer after inheritance occurs following the enforcement.
2. For scenic zones, Type A scenic zones, and Type B scenic zones, 40% of the land value will be deducted. In addition, if the regulatory provisions are the same as those of conservation zones, the provisions of the preceding subparagraph shall apply.
3. For residential districts, 30% of the land value will be deducted.
4. For commercial districts and community centers, 20% of the land value will be deducted.

These Standards shall come into effect from the date of promulgation.