Hong Joon-pyo: "'Punitive Taxation' on Comprehensive Real Estate Tax, Constitutional Lawsuit Filed"

"Single Real Estate Property Is Not Subject to Comprehensive Real Estate Tax" Claim

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] Hong Joon-pyo, the mayor of Daegu, has filed a constitutional lawsuit against the comprehensive real estate holding tax.

On this day, Mayor Hong said on his Facebook, "Yesterday, I filed a constitutional lawsuit with the Constitutional Court to determine whether the imposition of the comprehensive real estate holding tax is unconstitutional."

He argued, "Imposing the comprehensive real estate holding tax on a single household owning one house is unconstitutional," and stated, "A single real estate property is not subject to the comprehensive real estate holding tax."

Mayor Hong explained, "Imposing both property tax and comprehensive real estate holding tax on a single property constitutes double taxation, and the administrative authority setting the publicly announced price and uniformly imposing the comprehensive real estate holding tax based on it violates the principle of taxation by law, among other reasons, which led to filing the constitutional lawsuit."

He added, "The comprehensive real estate holding tax was introduced to prevent real estate speculation, but this system has now turned into a wealth tax and is being operated as a punitive taxation system, which in itself has the potential to be unconstitutional."

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