Goheung-gun, Lifetime First Home Purchase Acquisition Tax Reduction Regardless of Age

Benefits for Unmarried and Middle-aged Couples Also Apply When Purchasing a Home After July 10, 2020

[Goheung=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Goheung-gun, Jeollanam-do announced on the 7th that anyone who purchases a house for the first time in their life after July 10th can receive acquisition tax reduction benefits.

To alleviate the tax burden on low-income real demanders, acquisition tax reductions are available to those who meet the conditions for first-time home purchase acquisition tax regardless of marital status or age.

As of the acquisition date after July 10th, none of the household members registered in the resident registration must own a house, and the combined income of the couple must be 70 million KRW or less to qualify for the reduction.

For houses valued at 150 million KRW or less, the acquisition tax is fully exempted, and for those valued between over 150 million KRW and up to 300 million KRW, a 50% reduction is applied. This policy is temporarily in effect until December 31, 2021.

Additionally, for houses purchased and acquisition tax paid between July 10 and August 11, coinciding with the announcement of real estate measures, refund procedures are also being conducted simultaneously.

A county official stated, “We plan to actively protect the tax rights of residents so that those who meet the first-time home purchase requirements can exercise their rights.”

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