Gwanak-gu Imposes 46.3 Billion Won in Property Tax for July

As of June 1, Seoul City Provides Various Payment Convenience Systems Including ETAX, Virtual Accounts, ARS, and Smartphone Apps for Owners of Houses, Buildings, Land, and Ships

Gwanak District Office

[Asia Economy Reporter Jongil Park] Gwanak-gu (Mayor Park Junhee) has imposed 170,000 cases of regular July property tax, totaling 46.3 billion KRW.

The property tax obligor is the person who actually owns property in Gwanak-gu as of June 1 every year. Taxable items include houses, buildings, land, ships, and aircraft.

Property tax is levied twice a year, in July and September. In July, half of the housing tax and property tax on buildings, ships, etc. are imposed, and in September, the remaining half of the housing tax and land tax are imposed.

The property tax imposed in July amounts to 46.31 billion KRW, which is a 3.7% increase compared to the previous year due to the rise in real estate prices and official prices.

To alleviate the sharp increase in tax burden this year, the fair market value ratio was lowered from the current 60% to 45% only for one household one house owners, reducing the property tax burden.

For one household one house owners with a publicly announced housing price of 900 million KRW or less, a tax rate special case of 0.05 percentage points by tax bracket is also applied to minimize the property tax payment burden.

The property tax payment deadline is August 1, and a 3% surcharge will be added if the payment deadline is missed.

Tax payments can be made by visiting financial institutions directly, or by using various convenient payment systems such as ARS, ATM machines, virtual accounts, and Seoul ETAX. It is also possible to pay conveniently through various methods such as smart tax bills using simple payment apps or financial company apps after installing smartphone apps.

Instead of the existing paper tax bill, electronic tax bills can be received via email or mobile phone, and if paid within the deadline, mileage of 350 KRW for amounts under 300,000 KRW and 850 KRW for amounts over 300,000 KRW is provided. Additionally, if electronic tax bills and automatic transfer are applied for simultaneously, a tax credit benefit of 500 KRW per case is also provided.

Mayor Park Junhee said, “I hope residents use various tax payment convenience systems to save time and costs and pay conveniently,” and added, “We will do our best to ensure that the valuable taxes paid by residents are used where they are truly needed for the residents.”

For more detailed information regarding July property tax payment, please contact the Property Acquisition Tax Division of Gwanak-gu Office.

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