Stop property tax politics

As many as 1 million people would be receiving comprehensive property tax bill this year. The National Tax Service is sending out the bill to 947,000 this year, sharply higher than 760,000 the ruling Democratic Party (DP) had...

2021-11-23

Tax break

The National Assembly passed a bill revising the comprehensive real estate tax on Tuesday. Under the bill, single apartment owners will be taxed on apartments with assessed values exceeding 1.1 billion won ($943,000) instead of 900 million won

2021-08-31

Property owners are feeling the tax pinch

According to People Power Party (PPP) lawmaker Kim Sang-hoon on Monday, the number of people asking to pay property taxes in installments in Seoul last year amounted to 1,478 -- six times larger than the 247 requests made in 2019.

2021-05-24

Drastic shift needed for housing

June 1 is the basis for levies of our property tax and comprehensive real estate holding tax. Any property owner by that date is liable to annual tax. The ruling Democratic Party (DP) has placed Rep. Kim Jin-pyo in charge of...

2021-05-17

Fix the property tax

Many could be dumbfounded when they receive the bill on property tax this year. According to a property ownership tax estimate for this year by the National Assembly Budget Office, the government can expect to collect up to 6.1...

2021-05-05

Time for a fast conclusion

After losing the by-elections by a landslide, the ruling Democratic Party (DP) is pushing to reverse its hard-line real estate policy. It launched a special committee to address complaints over real estate issues. Rep. Yun...

2021-04-21

Property summit

Heads of five local governments meet to discuss the issue of government assessed values of real estate, from which property taxes are calculated, at Seoul City Hall on Sunday. The central government increased the assessed values steeply...

2021-04-18

'Fair economy' gets real as property assessments lifted

The government-assessed value of standalone houses in Seoul will increase 10.13 percent next year, higher than this year’s increase of 6.82 percent from 2019. The average increase for the nation is 6.68 percent.

2020-12-21

Property owners get big tax shock

A 66-year-old man who lives in Mok-dong of Yangcheon District, western Seoul, was shocked recently after checking his comprehensive real estate tax bill. It was up sevenfold from the previous year.

2020-11-24

Property taxes up by maximum for 580,000 in Seoul

Property taxes increased the maximum 30 percent this year for 580,000 households in Seoul.

2020-07-21

korea joongAng daily