Seoul Jung-gu Imposes 68.9 Billion KRW in Regular Property Tax for July

5.5% Increase Year-on-Year, Payment Due by August 2 for Half of Housing Units in Jung-gu... Property Tax Rate Reduced by 0.05% per Bracket for Single-Home Owners with Publicly Announced Property Value Under 900 Million Won

[Asia Economy Reporter Jongil Park] Jung-gu, Seoul (Mayor Seoyangho) imposed 68.92549 billion KRW in regular July property tax. This year, housing prices and official land prices rose simultaneously, increasing by 5.5% compared to the previous year.

The taxpayers are owners of houses, land, buildings, etc. as of June 1 this year. The taxable items this time are half of the housing portion, buildings, and ships, while the remaining half of the housing portion and the land portion will be imposed in September.

The payment period is from July 16 to August 2. Since the original due date at the end of July falls on a Saturday, the deadline has been extended. If the final deadline is missed, a 3% surcharge will be imposed, so caution is required.

Jung-gu imposed property tax on housing portions by reducing the property tax rate by 0.05% for each tax bracket on houses with an official price of 900 million KRW or less owned by one household with one house as of June 1, to stabilize housing for low-income citizens and reduce tax burdens. The reduction rate ranges from a minimum of 17.6% to a maximum of 50%.

The definition of one household is based on family members registered in the resident registration, but spouses and children under 19 years old are included in the same household even if registered separately. However, inherited houses (less than 5 years elapsed) may be excluded from the house count, and in this case, an 'Exclusion from House Count Application' must be submitted. Applications can be made by visiting the Tax Division 1 of the district office or online via WETAX.

The district office sent out tax bills and notices on the 10th. If the tax bill is lost, it can be reissued at the Tax Division 1 of the district office or the nearest community service center. Even without the tax bill, local taxes can be checked and paid using one’s bankbook, cash card, or credit card at unmanned payment machines and ATMs of all banks nationwide. Transfers to a dedicated local tax account are also acceptable.

If you want to pay at home without visiting a bank, you can pay through the Seoul Metropolitan Government local tax internet payment system or the mobile app STAX (Seoul Tax Payment).

Additionally, email tax bill payers are offered tax deductions and mileage accumulation benefits. If you receive the tax bill by email instead of paper and pay within the deadline, you get a 150 KRW tax deduction and accumulate 350 KRW mileage (850 KRW if the bill amount is over 300,000 KRW per bill).

If you apply for automatic transfer and pay within the deadline, you receive an additional 500 KRW tax deduction and separately accumulate 500 KRW mileage. Accumulated mileage can be used for transportation card charging, donations, tax payments, etc.

Seoyangho, Mayor of Jung-gu, said, "Local taxes paid faithfully during crisis situations like COVID-19 are the foundation for protecting residents’ safety and the local economy," and added, "Please make sure to pay within the deadline as disadvantages may occur if the payment deadline is missed."

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