The National Tax Service said on the 26th that 540,000 people must pay the comprehensive real estate tax on dwellings this year, up 80,000 from a year ago. The tax applies to single-home owners when the officially assessed value of the dwelling exceeds 1.2 billion won, and to multiple-home owners when the combined official value of their dwellings exceeds 900 million won. In Seoul alone, the number of people subject to the comprehensive real estate tax on dwellings rose by about 59,000.
According to the National Tax Service that day, the number of people subject to the comprehensive real estate tax on dwellings this year is 540,000, up 17.3% (80,000) from a year earlier. The total tax amount came to 1.7 trillion won, up 6.3% (100 billion won). The average tax per person was 1,606,000 won, up 10.5% (153,000 won) from last year. The National Tax Service said it was due to increased new supply of dwellings this year and a 3.65% rise in the officially assessed prices of apartment houses nationwide from the previous year.
In particular, in Seoul, those subject to the comprehensive real estate tax on dwellings totaled 327,793, up 21.0% (58,670) from the previous year. Seoul's officially assessed apartment-house prices rose 7.86% this year from last year, higher than the national average of 3.65%. In Gyeonggi Province, those subject to the tax increased 15.7% (16,883) to 113,057, and in Incheon, the figure rose 19.0% (1,978) to 11,146.
The payment deadline for the comprehensive real estate tax is on the 15th of next month. If the tax exceeds 3 million won, it can be paid in installments for up to six months. Installments can be requested on Hometax. Those who meet certain requirements may defer payment. Among single-home owners, those age 60 or older or those who have owned a dwelling for five years or more may defer by providing collateral.