Songpa-gu Collects 390.6 Billion Won in 2023 District Revenue... Exceeds Target by 109.8%

Exceeded last year's tax revenue target by 34.9 billion KRW... 22.3% increase in non-tax revenue, 23.8% increase in delinquent tax collection, showing efforts to expand internal resources

Seogangseok, Mayor of Songpa District

Songpa-gu (District Mayor Seo Gang-seok) announced that despite last year's economic downturn due to high interest rates, it collected 390.6 billion KRW, exceeding the district's revenue target by 34.9 billion KRW.

This figure represents 109.8% achievement compared to the target amount of 355.7 billion KRW.

By tax category, the amounts were 220.5 billion KRW in property tax, 31.7 billion KRW in registration and license tax, 8.9 billion KRW in local consumption tax, and 128.2 billion KRW in non-tax revenue.

The significant increase in non-tax revenue positively influenced last year's revenue exceeding the target. Income from usage fees and interest increased due to the normalization of public facility operations, resulting in a 23.3% increase, or 23.4 billion KRW, compared to the target.

Property tax, an important source of local government finances, slightly increased by 6.1 billion KRW, or 2.8%, compared to the target. This is analyzed to be due to the decline in housing prices caused by the real estate market downturn and the easing of the fair market value ratio to reduce tax burdens on single-home households.

In particular, the performance in collecting overdue taxes last year was remarkable. A total of 5.4 billion KRW was collected, exceeding the target by 1 billion KRW, or 23.8%.

Since Seo Gang-seok took office as district mayor, the district unified overdue tax collection tasks, previously handled by three tax departments, into the Tax Administration Division through an organizational restructuring implemented in October 2022, improving work efficiency and expertise.

▲ Operated a special collection team for high-value overdue taxes ▲ Auctioned seized properties of habitual and high-value tax delinquents ▲ Restricted permits for businesses ▲ Publicly disclosed delinquent taxpayers’ names, and carried out strong overdue tax collection activities to establish a fair tax payment culture.

Additionally, to achieve stable revenue targets, the district held a ‘Special Revenue Collection Strategy Meeting’ to analyze revenue status and collection performance, discussing measures to meet targets, and devoted full efforts to expanding its own resources through systematic revenue management.

Seo Gang-seok, Mayor of Songpa-gu, stated, “Despite difficult revenue conditions, thanks to the mature tax payment awareness of residents and the proactive work of our district employees, we achieved excellent results. In 2024, we will do our best to ensure that the precious taxes of our residents are not wasted through efficient budget management.”

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