Haman-gun Implements Local Tax Laws Related to July 10 Real Estate Measures

Increase in Acquisition Tax Rates for Multiple Homeowners: '8% for 3 Houses, 12% for 4 or More Houses' Applied

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Choi Hyun-joo] On the 14th, Haman-gun, Gyeongnam announced that the revised Local Tax Related Act has been implemented in connection with the government's ‘7·10 Real Estate Measures’.

Accordingly, when acquiring a house in Haman-gun, which is a non-regulated area, the acquisition tax rate of 1-3% will be applied as before for households with up to two houses, but for those with three houses, an 8% acquisition tax rate will be applied, and for those with four or more houses and corporations, a 12% acquisition tax rate will be applied.

The scope of one household, which is the criterion for determining multi-homeowners, is based on the household registered in the resident registration, but spouses and unmarried children under 30 years old are considered the same household even if they have different addresses. However, in cases of cohabitation to support parents aged 65 or older, and unmarried persons under 30 years old with income, they are recognized as independent households.

In addition, the criteria for calculating the number of houses include housing subscription rights, cooperative member occupancy rights, and residential officetels acquired after the enforcement of this law, which are included in the number of houses. However, rural houses, houses with a publicly announced price of 100 million KRW or less, inherited houses within 5 years from the date of inheritance commencement, company housing, and public rental housing, which are difficult to consider as speculative targets, are excluded from the calculation of the number of houses.

Furthermore, with the revision of the Local Tax Special Cases Restriction Act, the lifetime first-home acquisition tax reduction, which was previously applied only to newlyweds, has been expanded to reduce acquisition tax for first-time homebuyers who meet certain conditions regardless of age or marital status.

The income standard is that if the combined income of the acquirer and spouse is 70 million KRW or less, acquisition tax is exempted for houses priced at 150 million KRW or less, and acquisition tax is reduced by 50% for houses priced over 150 million KRW up to 300 million KRW.

A county official stated, “Please check the revised acquisition tax rates in advance before paying acquisition tax, etc., and report and pay accordingly,” and added, “We will strengthen resident publicity in various ways to ensure the establishment of the revised tax law.”

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