Kim Eun-hye Proposes Bill to Exempt Property Tax on Remodeled Houses
Even if Uninhabitable Due to Remodeling, Property Tax Applies... Differences from Reconstruction and Redevelopment
Kim Eun-hye "Disadvantages in Remodeling Projects... Violates Principle of Fair Taxation"
On the 12th, Kim Eun-hye, a member of the People Power Party, proposed a partial amendment to the Local Tax Special Cases Act to exempt housing property tax on apartment complexes undergoing remodeling projects. If this law passes, unlike reconstruction and redevelopment housing, residents will not have to pay housing property tax even if the remodeling renders the residence uninhabitable.
Unlike reconstruction, which involves demolishing existing apartments, remodeling projects proceed by maintaining the building’s framework while expanding it. This results in a shorter project duration and relatively lower construction costs. Additionally, compared to general maintenance projects, remodeling generates less waste and causes less environmental damage, making it an attractive alternative for maintenance projects. Under current law, reconstruction and redevelopment housing are considered demolished during the construction period and are exempt from housing property tax. However, remodeling housing, despite being uninhabitable like reconstruction and redevelopment housing, is still subject to housing property tax, highlighting a blind spot in the system.
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In response, Representative Kim has taken the lead in proposing this amendment to exempt housing property tax by considering remodeling housing as demolished. Kim stated, “Imposing property tax on remodeling housing, which is uninhabitable like reconstruction housing, is a 'disadvantage' to remodeling projects and violates the 'principle of equitable taxation' enshrined in the Constitution. Through this amendment, I hope to realize constitutional values and protect residents’ property rights.”
She added, “I will continue to take the lead in removing harmful regulations related to housing issues that directly affect residents’ lives.”
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