Seocho-gu Property Tax Reduction Halted, Supreme Court "Decision to Grant Suspension of Execution"

[Asia Economy Reporter Baek Kyunghwan] The Supreme Court has put a brake on Seocho-gu, Seoul’s plan to reduce property tax.

On the 30th, the Supreme Court’s First Division (Presiding Justice Park Jeonghwa) approved Seoul City’s request for a suspension of execution against the Seocho-gu Council, which sought to halt the effect of the partial amendment ordinance of the Seocho-gu tax ordinance.

The court judged that Seoul City’s request for suspension of execution met the requirements for approval, including the urgent need to avoid irreparable damage and that the main claim was not clearly groundless. Accordingly, the court decided to suspend the effect of the resolution made by Seocho-gu on the partial amendment ordinance of the tax ordinance until a ruling on the main case is made.

Earlier, on September 25, the Seocho-gu Council passed the amendment ordinance aiming to reduce the property tax burden on residents. The key point was to reduce 50% of the district’s share of the 2020 property tax, equivalent to 25% of the total amount, for one household owning a single house with a standard market value of 900 million KRW or less.

However, after the amendment ordinance was promulgated on October 23, Seoul City filed a lawsuit to confirm the invalidity of the ordinance resolution and requested a suspension of execution to halt its effect.

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