July, the Month for Property Tax Payment

Gwanak-gu ‘July Property Tax Payment Month’ Notice

Property tax imposed on owners of houses, buildings, and ships... Payment deadline by July 31

Payment available through various convenient systems such as Seoul ETAX, virtual accounts, ARS, and smartphone apps

Gwanak-gu (Mayor Park Junhee) has imposed 42.4 billion KRW in regular July property tax and is providing various payment methods for residents' convenience.

Property tax is a tax imposed on owners of houses, buildings, land, and ships as of the tax base date (June 1 annually), and is levied in July and September respectively. In July, half of the house tax and taxes on buildings other than houses and ships are imposed, while in September, the remaining half of the house tax and land tax are imposed.

This year, according to government policy, the fair market value ratio, which was temporarily lowered to 45% last year for single-household owners, has been adjusted differentially based on the official housing price: 43% for up to 300 million KRW, 44% for over 300 million KRW up to 600 million KRW, and 45% for over 600 million KRW, instead of the previous uniform 45%. A special tax rate reduced by 0.05% was applied for single-household owners with an official housing price of 900 million KRW or less.

The payment deadline for the regular July property tax is until July 31, and a 3% surcharge will be imposed if the deadline is missed. Additionally, for property taxes over 300,000 KRW unpaid by August 31, a monthly additional surcharge of 0.75% will be applied.

Payment methods include visiting financial institutions directly or using various convenient payment systems such as ▲ARS ▲ATM ▲virtual accounts ▲Seoul ETAX, and payments can also be made via smartphone apps (STAX) through simple payment apps or financial company apps.

For more details, residents can check the Gwanak-gu website or the enclosed notice with the property tax bill, and inquiries can also be made by phone to the Property Acquisition Tax Division.

The district operates a ‘One-day Taxpayer Assistant’ system, providing various services such as reissuing property tax bills and ATM payment guidance for residents visiting the Gwanak-gu Office Tax Civil Service Office.

An official from the district stated, “We have established and operate various convenience systems so that residents can pay property tax comfortably without restrictions of time and place,” and added, “We ask residents to pay within the deadline to avoid disadvantages such as surcharge imposition.”

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