Yeosu City Imposes 41.4 Billion Won in Regular Property Tax, Up 1 Billion Won from Last Year

Yeosu City imposed 41.4 billion won in regular property tax for September this year. Photo by Yeosu City

Yeosu City in South Jeolla Province announced on the 11th that it has imposed 41.4 billion won in regular property tax (second installment for land and housing) for September this year, covering 104,543 cases. This is an increase of 1 billion won compared to last year’s 40.4 billion won.

The main reasons for the increase are a rise in the officially assessed land value for the land portion, and an increase in taxable properties for the housing portion due to the construction of new apartment complexes and the conversion of officetels to residential use. Property tax is imposed on owners of land and housing as of June 1, 2025. For housing, if the property tax amount exceeds 200,000 won, it is split into two payments in July and September, with this September payment being the second installment following July.

The payment deadline is the 30th of this month. If payment is not made by the deadline, a 3% late payment penalty will be charged. Various payment methods are available, including Wetax, bank ATMs, online Giro, Nonghyup virtual accounts, mobile apps, and credit cards.

If the principal property tax amount (including the urban area portion) exceeds 2.5 million won, taxpayers can apply to pay in installments before the payment deadline. The installment payment must be completed within three months after the original payment deadline.

A city official urged, "Please make sure to pay within the tax deadline."

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