Final Tax Notice This Year … Taxes Doubled Last Year l KBS WORLD Radio



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Final Tax Notice This Year ... Taxes More Than Double Last Year

Photo: YONHAP News

Homeowner A, who owns a 116m2 apartment in Seocho-gu, sighed after checking this year’s comprehensive property tax (deposit tax) notice on Internet Jiro.

The final tax that Mr. A will pay this year is 2,600,000 won, more than double that of last year (990,000 won).

Mr. A said, “I had the expectation that the property tax would go up and the tax on taxes would go up as well, but when I saw the tax noticed, I started to sigh.”

Cafes related to the real estate sector on the Internet portal have also received a tax bill and published articles saying that the tax burden has increased too much.

Mr. B, who captured the verified tax notice with his smartphone and posted it in the cafe, said: “This year, the tax to pay was 11.2 million won. You are interested. Help me not to know the law “.

The comprehensive property tax (tax on varieties), which reflects the price increase publicly this year, was announced immediately.

Due to the increase in the official price and the increase in the fair market price ratio (85 → 90%), the number of taxable tax targets is expected to increase and the amount of tax on the same real estate property is expected to increase considerably.

On the 23rd, the National Tax Service announced on the 23rd that it had notified the final tax for this year based on the status of home ownership and land as of June 1 of this year.

Taxpayers can check the details of the tax notification through the hometax of the National Tax Service (www.hometax.go.kr) or through the Internet Jiro (www.giro.or.kr) of the KFTC before the invoice arrives by mail.

The tax is levied on the portion that exceeds the deductible amount by adding the published prices of houses and land per taxpayer (per person).

In the case of housing, if the sum of the published prices exceeds 600 million won, it is subject to tax. However, up to 900 million won is deducted from a homeowner in the first home.

The amount of the deduction for total combined land (bare land, hybrid land, etc.) is 500 million won and 8 billion won for separate combined land (commercial and office-affiliated land).

The tax rate is 0.5 ~ 3.2% depending on the number of houses and the amount of the tax base.

The tax rate is the same as last year, but last year’s taxpayers will receive a bill that has risen significantly, and tens of thousands of single-family homeowners paying the tax are expected to be in Seoul alone.

Like Mr. A in the example, in regions where the public price rose sharply, taxpayers whose determined tax amount exceeded double last year were dumped into a pile.

This is because the listing price has increased significantly this year and the fair market price ratio, which is multiplied by the listing price to calculate the tax base, is applied at 90%, 5 percentage points more than the year past.

The rate of increase in the price of public housing this year is 5.98% on average nationwide, but the public price of super-high-priced housing more than 3 billion won in the Seoul Gangnam area and the so-called Masongseong (Mapo, Yongsan, Seongdong) increased by almost 30%.

Taxpayers who have revised the tax tax are screaming.

At Naver Real Estate Cafe, Mr. D said, “I lived in an apartment in Dogok-dong, but the tax paid was 3,688,130 won, which is double last year. It is bitter because the tax bomb seems realize”.

Mr. D said, “He had no income, but the tax was 1.63 million won.”

Mr. E raised his voice and said, “Next year it will more than double this year, but shouldn’t we have to deduct the tax paid when paying capital gains tax?” “The tax law has changed so much that the tax accountant is also confused.”

In addition, there has been speculation in the real estate sector that there will be more than 200,000 homes that will be subject to a new tax this year due to the increase in the official price.

Mr. G, a 51-year-old one-house owner of 84 square meters of Mapo Raemian Prugio, did not pay the final tax last year, but was notified of 261,000 won this year.

Godeok Raemian Hill State 84th, Godeok-dong, Gangdong-gu, was also the first to be taxed this year. The official price has risen to 946 million won this year, beating the tax collection standard of 900 million won.



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