On the ‘Rubber Band Disclosure Price’ … Looks like house price, but pays 3 million won more in property taxes for 5 years



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Although the government announced that it would increase the realization rate of the listing price of real estate (the ratio of the listed price to the market price), dissatisfaction with the opaque calculation of the listed price appears everywhere. Although the prices are the same, there are many cases where the property tax burden varies widely due to different published prices. In particular, in this case, even if the quoted price is corrected next year, the difference in the property tax increase is expected to continue for several years, and the owners are distressed. For example, in an apartment in Mapo-gu, Seoul, the property tax difference is expected to reach 3 million won in five years.

According to the real estate industry on the 1st, the government announced a plan to raise the official price of real estate to 90% of the market price on the 27th of last month, but the voices that warn about the side effects are increasing. Under the government and ruling party’s plan for a completion rate of 90% of published prices, apartments with a market price above 1.5 billion won will increase to 90% of the market price by 2025. Apartments with a market price of 900 million won to 1.5 billion won will achieve a completion rate of 90% by 2027, and apartments with a market price of less than 900 million won by 2030. Starting this year, the rate of Realization of published prices of apartments with more than 1,500 million won is 75.3%, the realization rate of apartments with 900 million to 1,500 million won is 69.2%, and the realization rate of apartments of less than 900 million won is 68.1%.

However, in the process of realizing the published price, the side effect of the million won tax difference occurs even among homeowners in similar conditions. This is because the listing price is far from the market price. Last year, the Korea Appraisal Board did not include a correction fee that reflects the difference in the price of each apartment, such as Galleria Foret, in Seongsu-dong, Seoul, when calculating the price of public housing for apartments, so that some homes were appraised at the same price regardless of floor. For Galleria Foret, the area of ​​101 buildings of 170.98㎡ 33 homes, from the 12th to the 45th floor, was set at 2.6 billion won with no difference in price.

The same cases are similar to numbers 101 and 1101 of the same Maporemian Prugio apartment. As of October, the actual transaction price is the same at 1.6 billion won, but the published price differs by 722 million won and 840 million won, respectively. This year’s property tax is also 1.65 million won and 1.97 million won, a difference of 320,000 won. For the n. 1101, it is inevitable.

Assuming the prices quoted are the same because the prices of the two houses are the same, the difference in the tenure tax between the two houses will continue to occur in the process of setting the price of the property revealed at 90% by 2030, as said the government. This is due to the upper limit of itemized charges (130% compared to last year). As a result of the property tax calculation for the two houses commissioned by Maeil Economic Daily by Woo Byeong-tak, director of Shinhan Bank’s real estate investment advisory center, assuming the apartment price increases by 2% per year, the published price of the two houses equals 11,555.2 million won next year. However, the property tax is 2.36 million won and 2.82 million won, which is a difference of 460,000 won. If there is no upper limit for the itemized charges, the property tax for the two houses is the same, but since the upper limit applies, the increase to 1101, which originally had a higher public price, is due to a higher magnification.

The same is true after that. The official price has risen the same according to the government’s schedule, but the property tax is 3.38 million won and 3.89 million won, a difference of 510,000 won. In 2023, the difference was 760,000 won, and in 2024, the difference was 1.16 million won, and by 2025 alone, the property tax on the two houses is 77,000 won. From this year to 2025, Unit 1101 will pay 3.21 million won more than Unit 101. In 2025, when the listing price is 90% of the market price, it is not enough to pay 77,000 won, 3.5 times more than this year (1.97 million won) as withholding tax.

“It is worth paying attention to the fact that the property tax burden varies even under similar conditions according to fluctuations in the published price for each complex.” Said. Dae-Jung Kwon, a professor in the Real Estate Department at Myongji University, said, “There is a difference because the Evaluation Board calculates it mechanically.

[권한울 기자 / 김태준 기자][ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]

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