Yongin City Grants 'Local Tax Exemption' to Flood-Affected Households in Dongcheon-dong and Bereaved Families of Itaewon Victims

Yongin City Hall Panorama

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province will exempt local taxes for households affected by flooding in Dongcheon-dong and the bereaved families of the Itaewon tragedy victims.

On the 23rd, Yongin City announced that it has decided to exempt property taxes on real estate damaged by flooding in Dongcheon-dong, Suji-gu, which was declared a special disaster area due to the concentrated heavy rains in the metropolitan area last August, as well as local taxes for the bereaved families of the Itaewon tragedy victims.

Earlier, on the 11th, the city submitted the 'Consent Proposal for Property Tax Reduction in Special Disaster Areas' and the 'Consent Proposal for Local Tax Reduction for Bereaved Families Related to the Itaewon Accident' to the city council, and the proposals were approved at the Yongin City Council on the 23rd.

In Dongcheon-dong, 534mm of heavy rain poured down last August, causing bridges and walkways to collapse and soil to slide down. Flood damage occurred at a total of 131 locations, including 34 houses, resulting in approximately 3.8 billion KRW in damages. This amount exceeds half of the total estimated damage of 7.1 billion KRW for the entire Yongin City.

The property tax reduction for special disaster zones applies to owners of flooded properties whose damage has been confirmed by the city and registered in the 'National Disaster Management Information System.'

The property tax reduction applies to the 2022 tax year. For property taxes already paid, individual notices and refund notifications will be sent by mail by next month.

Additionally, with the passage of this proposal, local taxes will also be exempted for the parents, spouses, and children of the victims of the Itaewon tragedy.

The tax reduction targets include the 2023 resident tax for individuals and business establishments, property tax, and others. Automobile tax exemptions cover both the second half of 2022 and the 2023 tax year.

The local tax reduction for bereaved families related to the Itaewon tragedy is based on the Ministry of the Interior and Safety's 'Standards for Local Tax Reduction Support for Bereaved Families.'

After the resolution, the city plans to apply the same consent proposal to additional bereaved families of victims identified later for tax reduction.

A city official stated, "We understand that no words can console those who suffered property damage from the heavy rains and those who lost loved ones in the Itaewon tragedy," adding, "We hope that the local tax reduction can offer some comfort to those who have gone through such difficult times."

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