Kim Tae-nyeon "Plan to Ease Property Tax for Single-Homeowners" Ruling Party's Government-Party Meeting This Week

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] The Democratic Party of Korea announced that it will present measures to ease property taxes for single-homeowners in response to the increase in official land prices after party-government consultations this week.

On the morning of the 27th, Kim Tae-nyeon, the floor leader of the Democratic Party, said at a floor countermeasure meeting held at the National Assembly, "Today, the Ministry of Land, Infrastructure and Transport is holding a public hearing to realize the official real estate prices," adding, "It is well known that the official prices have long been criticized for being detached from market prices."

He continued, "However, the burden on ordinary citizens should not increase due to the realization. The Democratic Party will work with the government to prepare measures so that the property tax burden does not increase for ordinary citizens and the middle class who own mid-to-low priced single homes."

Han Jeong-ae, the chairperson of the Democratic Party's Policy Committee, said, "There is a long roadmap to align official land prices to 90% of market prices by 2030," adding, "This can be an effort to match official land prices with market prices, and naturally, there may be changes in property taxes."

She added, "There has been a continuous demand from the party to the government to ease the burden on single-homeowners with mid-to-low priced houses and the middle class," and said, "We will report the results of the property tax relief through party-government consultations within this week."

Meanwhile, regarding the People Power Party's claim to introduce a special prosecutor and their plan to hold an overnight sit-in protest, Floor Leader Kim criticized, "The main opposition party's intention to hold a sit-in protest citing a special prosecutor ahead of legislation and budget review seems like an abrupt political conflict even to the public."

He continued, "The Lime and Optimus cases are clearly financial fraud cases. It is becoming clear that they are not power-related gate scandals," emphasizing, "There is no evidence for the ruling party's key figures' lobbying allegations persistently claimed by the opposition."

He added, "Rather, there are suspicions involving connections with former and current special prosecutors and opposition politicians," and said, "The opposition should stop irresponsible political conflict demands for a special prosecutor and cooperate on people’s livelihood. The Democratic Party will focus on budget and legislative promotion to overcome the COVID-19 crisis and protect the economy against the opposition's abandonment of people’s livelihood."

Regarding COVID-19, he said, "There is great concern about a second Itaewon club incident ahead of Halloween this weekend," and urged, "Please refrain from group gatherings, and we hope that the quarantine authorities and local governments will establish creative and special measures."

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