[2020 National Audit] Kim Eun-hye "LH Imposes 3 Billion Won Property Tax on Tenants of Public Rental Conversion Housing"

[Asia Economy Reporter Lee Ji-eun] It has been confirmed that the Korea Land and Housing Corporation (hereinafter LH) has passed on property taxes amounting to over 3 billion won to tenants of 10-year public rental conversion housing.

According to data submitted on the 16th by Kim Eun-hye, a member of the National Assembly Land, Infrastructure and Transport Committee from the People Power Party, from Seongnam City, the total property tax for 11 complexes of 10-year public rental conversion housing located in Pangyo, Seongnam last year amounted to 3,412,830,000 won.

Among these, 7 complexes are operated by LH, and the remaining 4 are managed by private operators. The taxes paid by tenants in the LH-operated complexes accounted for 3,060,350,000 won (89.7%), representing the vast majority.

The scale of property tax has grown larger over time. In 2012, during the Lee Myung-bak administration, the property tax for 12 complexes was 1,873,540,000 won, and for the 7 LH complexes, it was 1,607,500,000 won. It nearly doubled in 8 years. The property tax for this year, which has not yet been finalized, is expected to increase further due to a noticeable surge in real estate prices, which form the basis for property tax calculation, within a year.

However, the ones who paid the property tax were not the homeowners, LH, but the tenants. LH included the property tax in the management fees collected from 3,952 tenant households. This contrasts with public rental housing with a mandatory rental period of 5 years, where property tax was not passed on despite being public rental conversion housing. Assemblywoman Kim criticized this as an "unequal rental housing policy."

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