Yeonggwang-gun Imposes and Notifies 7.6 Billion KRW Property Tax for July

[Asia Economy Honam Reporting Headquarters Reporter Jeon Seong] Yeonggwang-gun, Jeollanam-do (Governor Kim Jun-seong) announced on the 13th that it has imposed and notified the first installment of property tax for this year amounting to 7.691 billion KRW.

Property tax is levied on owners of houses, buildings, ships, etc. within the jurisdiction as of the tax base date, which was the 1st of last month, and it has increased by about 157 million KRW (2.1%) compared to last year.

The increase is due to the rise in the standard building construction price announced by the National Tax Service, as well as the increase in individual house prices and individual publicly announced land prices.

For houses, if the annual tax amount exceeds 200,000 KRW, it is notified in two halves in July and September respectively, and if it is 200,000 KRW or less, it is paid in a lump sum in July.

The payment deadline is until the 31st of this month, and payment methods include visiting financial institutions, Giro payment, and using automatic teller machines (ATM).

Additionally, payments can be made via virtual accounts, Internet WETAX, ARS, and credit cards.

A county official said, “Although all residents are going through difficult times due to COVID-19, we hope everyone will not forget to fulfill their sincere tax payments so that we can overcome this together,” and added, “Property tax reductions are available for good landlords who have lowered rents for small business owners, so we hope many apply within this year.”

This content was produced with the assistance of AI translation services.