Boseong-gun Implements Acquisition Tax Reduction for First-Time Home Buyers

50~100% Tax Savings If Requirements Are Met Regardless of Age or Marital Status

[Asia Economy Honam Reporting Headquarters, Reporter Kim Chunsu] Boseong-gun, Jeollanam-do announced on the 2nd that it will implement the acquisition tax reduction system for first-time homebuyers in accordance with the government’s ‘July 10 Housing Market Stabilization Supplementary Measures.’

The eligible persons are those who have never purchased a home before the acquisition date according to the resident registration, with all household members included, and whose combined household income (acquirer and spouse) is 70 million KRW or less, and who acquire a home for the first time through a paid transaction. For homes priced at 150 million KRW or less, the acquisition tax is fully exempted, and for homes priced over 150 million KRW up to 300 million KRW, 50% of the acquisition tax is reduced.

The reduction period applies to homes acquired from the policy announcement date of July 10 until December 31, 2021, and applications can be submitted to the Finance Department of Boseong County Office.

For those who acquired their first home between July 10 and August 11 (the day before the law’s enforcement), acquisition tax refund applications can be made within 60 days from the enforcement date of the amended law (by October 11).

Boseong-gun plans to send guidance notices to taxpayers who acquired homes during the relevant period (7.10~8.11) to inform them to claim acquisition tax refunds if they meet the above requirements.

However, if the move-in report is not filed within three months from the home acquisition date, or if the household does not become a single household with one home, or if the home is sold, gifted, or used for other purposes (including rental) within less than three years of actual residence, the tax will be subject to recovery.

A county official said, “We hope that by making good use of the amended Local Tax Special Cases Restriction Act, taxpayers’ tax burdens will be alleviated and paid housing transactions will be revitalized.”

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