Last Year, 52 People Paid 12 Trillion Won in Housing Comprehensive Real Estate Tax... 120,000 More People and 800 Billion Won Increase in One Year

Choo Kyung-ho, '2019 Jongsunsa Tax Notice Status' Data

View of the apartment complex in Mapo-gu from the 63 Observatory in Yeouido, Seoul. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Joo Sang-don] It has been revealed that last year, a total of 1.27 trillion KRW was imposed on 520,000 individuals and corporations liable for the comprehensive real estate tax on housing. The number of taxpayers increased by about 127,000, and the tax amount rose by more than 820 billion KRW.

On the 16th, Chu Kyung-ho, a member of the National Assembly's Planning and Finance Committee from the United Future Party, announced this based on the '2019 Comprehensive Real Estate Tax Notice Status' data submitted by the National Tax Service.

According to the data, the total number of taxpayers subject to the comprehensive real estate tax, combining individuals and corporations, was officially counted at 595,270, with a decided tax amount of 3.3471 trillion KRW. Compared to 2018, the number of taxpayers increased by 131,743, and the tax amount rose by 1.4743 trillion KRW.

Looking specifically at the housing portion, the number of individuals increased by 121,485 (31.7%) and the tax amount by 451.9 billion KRW (127.5%) within one year. For corporations, the number rose by 5,725 (56.5%) and the tax amount by 374.7 billion KRW (422.0%).

When divided by taxable standard brackets, the bracket under 300 million KRW accounted for the largest number with 352,935 people (67.8%). However, its share of the total tax amount was only 10.6% (134.6 billion KRW).

On the other hand, the bracket exceeding 9.4 billion KRW, which is subject to the highest tax rate, included only 285 people (0.05%), but the tax amount was 403.2 billion KRW, accounting for 31.8% of the total.

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