Gwangju City to Accept Objections to Individual Official Land Prices Until the 29th of Next Month

Official Land Price for 4,369 Individual Plots to Be Determined and Announced on the 31st

Gwangju City Hall exterior.

The city of Gwangju, Gyeonggi Province (Mayor Bang Se-hwan) announced on the 24th that it will determine and publicly announce the official land prices for 4,369 individual land parcels as of July 1, 2024, on the 31st of this month.

Accordingly, the city will accept objections to the individual official land prices from the 31st of this month until November 29th.

Viewing of the individual official land prices is possible by visiting the Land Management Division's Land Price Management Team at Gwangju City Hall or by phone inquiry, and can also be accessed through the Real Estate Official Price Notification Service.

Landowners and stakeholders who have objections to the viewed individual official land prices can submit their objections by visiting the Land Price Management Team at City Hall or through the Government24 'Individual Official Land Price Objection Application' from the 31st of this month until November 29th.

For land prices with submitted objections, the characteristics of the land will be re-verified, and through appraisal by certified appraisers to ensure balance with the prices of standard land or nearby land, the results will be notified to the objectors after re-investigation.

A city official stated, “Individual official land prices are used as the basis for imposing various charges such as capital gains tax, gift tax, inheritance tax, property tax, and acquisition tax,” and added, “We hope owners and stakeholders take an interest and review the prices.”

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