Last Year's Comprehensive Real Estate Tax Arrears Near 200 Billion Won... Half in Seoul

Published 14 Sep.2021 08:39(KST)

Updated 15 Mar.2023 13:24(KST)

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[Sejong=Asia Economy Reporter Kim Hyunjung] It was revealed that the outstanding comprehensive real estate tax (종합부동산세) arrears reached 200 billion KRW last year. The arrears in Seoul, where there are many high-priced houses, exceeded 100 billion KRW, accounting for more than half of the total.

According to data received from the National Tax Service by the office of Yang Kyungsuk, a member of the National Assembly's Planning and Finance Committee from the Democratic Party of Korea, the number of comprehensive real estate tax arrears cases in 2020 was 58,063, with an amount of 198.4 billion KRW. The number of arrears cases increased from 63,387 in 2018 to 66,220 in 2019, then decreased to the 50,000 range last year.

On the other hand, the amount of arrears increased from 126.1 billion KRW in 2018 and 181.4 billion KRW in 2019 to 198.4 billion KRW in 2020. Although the number of cases decreased, the amount increased, which appears to be due to a rise in the amount per arrears case.

Looking at the comprehensive real estate tax arrears by regional tax offices last year, the Seoul Regional Tax Office had the highest arrears with 25,942 cases and 119.8 billion KRW.

The Seoul Regional Tax Office accounted for 44.7% of the nationwide arrears cases and 60.4% of the nationwide arrears amount. The number of arrears cases under the Seoul office increased from 26,905 in 2018 to 29,209 in 2019, then decreased to the 25,000 range in 2020.

However, the arrears amount increased from 59 billion KRW in 2018 to 98.1 billion KRW in 2019, and exceeded 100 billion KRW for the first time last year.

Following Seoul, the Central Regional Tax Office, which covers the Gyeonggi area, had a large arrears scale with 12,904 cases and 30.2 billion KRW, followed by the Busan Regional Tax Office (5,575 cases, 13.5 billion KRW) and the Incheon Regional Tax Office (6,067 cases, 13.2 billion KRW).