Seo Eun-hee, Seocho District Mayor, "Property Tax Reduction Passed 11 Months After Solo Advocacy"

[Asia Economy Reporter Oh Ju-yeon] Jo Eun-hee, Mayor of Seocho District, expressed mixed feelings on the 29th regarding the 'Local Tax Act Amendment' that passed the National Assembly plenary session.

On the same day, Mayor Jo wrote on Facebook, "Today, the Local Tax Act amendment, which reduces the property tax rate by 0.05% for homeowners with a publicly announced property price of 900 million won or less, passed the National Assembly plenary session," adding, "It has been 11 months since I raised this issue alone last year."

She said, "The government and ruling party, who strongly opposed it, pretended to listen to public opinion and amended the law last December to apply to properties worth 600 million won or less. After the April by-election defeat, they belatedly realized the severe public discontent and revised it today to apply to properties worth 900 million won or less."

Mayor Jo announced the initiative to halve the property tax for single homeowners with publicly announced property prices of 900 million won or less in August last year. At that time, the Seoul Metropolitan Government, under an acting authority system, applied to the Supreme Court for a suspension of execution, and the actual implementation was canceled.

The Democratic Party of Korea set the easing of property tax as its party policy last month and promoted the bill, which was passed at the National Assembly plenary session today.

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