Yeonggwang-gun, 4.7 Billion Won Property Tax Assessed and Notified in September

[Yeonggwang=Asia Economy Honam Reporting Headquarters Reporter Lee Jeonseong] Yeonggwang-gun, Jeollanam-do announced on the 10th that it has imposed and notified the second installment of property tax on land and houses, amounting to 4.722 billion KRW, which is taxable in September.

Property tax is a representative holding tax imposed on owners of land and houses (including attached land) as of the tax base date, June 1.

The land portion of the property tax imposed this time increased by about 126 million KRW (2.9%) compared to last year, mainly due to the rise in individually announced land prices.

For the house portion of the property tax, amounts of 200,000 KRW or less were fully imposed in July, and for taxpayers exceeding 200,000 KRW, considering the tax burden, the amount is divided and imposed in halves (1/2) in July and this month respectively.

The payment deadline for this month’s land and house property tax is extended to the 5th of next month due to the Chuseok holiday.

Payment methods include visiting financial institutions to pay via Giro payment slips or using automatic teller machines (ATM), or paying by credit card through virtual accounts, internet WETAX, or local tax ARS.

A county official said, “If the payment deadline is missed, a 3% surcharge will be added, and for property tax over 300,000 KRW, an additional surcharge of 0.75% per month up to 60 months, totaling 45%, will be imposed. We urge payment within the deadline.” He added, “We will actively promote through electronic billboards and banners to ensure that residents do not suffer any disadvantages.”

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