July is the Month for Property Tax Payment, Deadline is Until August 2nd

Gyeongnam Province Imposes Total Regular Property Tax of 369.6 Billion KRW in July This Year

Gyeongsangnam-do Provincial Government Building Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 15th that it imposed 369.6 billion KRW in regular property tax for July this year in 18 cities and counties within the province.

Property tax is a local tax imposed annually on June 1st on owners of houses, buildings, land, and other properties.

Property tax on houses is imposed in two halves in July and September, buildings and ships are taxed in July, and land is taxed in September.

However, if the property tax on houses is 200,000 KRW or less, the full amount can be imposed in July.

Accordingly, 15 cities and counties in the province, including Changwon-si, impose the full amount if it is 200,000 KRW or less.

Tongyeong-si, Geoje-si, and Uiryeong-gun impose the full amount if it is 100,000 KRW or less.

Payment can be made directly at financial institutions nationwide or through virtual accounts, phone banking, Internet WETAX, and other methods.

High-value taxpayers whose property tax payment exceeds 2.5 million KRW can apply for installment payments.

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