Daejeon City Imposes 209.3 Billion KRW in Regular Property Tax, Up 11% from Last Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 13th that it has imposed 209.3 billion KRW in regular property tax (half of the housing portion, land portion) this month.

The regular property tax is divided into property tax of 182.7 billion KRW, local resource facility tax of 4.3 billion KRW, and local education tax of 22.3 billion KRW. The imposition status by taxable target is 67.8 billion KRW for the housing portion and 141.5 billion KRW for the land portion.

The property tax imposed this month increased by 20.7 billion KRW (11%↑) compared to last year. By taxable target, the housing portion property tax increased by 6.8 billion KRW (11.1%) and the land portion property tax increased by 13.9 billion KRW (11%).

The reason for the increase in property tax compared to last year is attributed to the rise in publicly announced land prices (9.91% compared to the previous year), which led to an increase in the land portion property tax amount.

The amount imposed by region is highest in Yuseong-gu with 79.0 billion KRW (14.7%↑ YoY), followed by Seo-gu with 56.9 billion KRW (8.2%↑ YoY), Daedeok-gu with 25.7 billion KRW (7.7%↑ YoY), Jung-gu with 24.9 billion KRW (11.5%↑ YoY), and Dong-gu with 22.6 billion KRW (8.8%↑ YoY).

Property tax is imposed on the property owner as of the tax base date (June 1), and for houses, if the main property tax is 100,000 KRW or less, the full amount is imposed in July; if it exceeds 100,000 KRW, 50% is imposed in July and 50% in September.

The deadline for property tax payment is until the 30th of this month.

Min Tae-ja, head of the city tax administration division, said, “Property tax is a valuable resource used for regional development and the welfare enhancement of citizens,” and added, “We ask that you complete the payment of property tax by the payment deadline (September 30).”

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