Kim Byungwook Pledges Temporary Property Tax Reduction for Vulnerable Single-Home Households

Kim Byungwook, Seongnam Mayoral Candidate, Announces Pledge via Facebook
Responds to Sharp Rise in Officially Assessed Property Values...
Proposes Establishing a One-Stop Support System for Holding Taxes
Average Officially Assessed Value Surges by 21.86%
"Will Safeguard Housing Stability and Citizens’ Livelihoods"

Kim Byungwook, the Democratic Party candidate for Mayor of Seongnam, has announced plans to implement a temporary property tax reduction policy for vulnerable groups among single-home households, aiming to alleviate the tax burden on citizens caused by rising officially assessed property values.

Candidate Kim Byungwook for Mayor of Seongnam. Provided by candidate Kim Byungwook

In a policy pledge announced via Facebook on May 13, Kim emphasized, "The sharp increase in officially assessed property values is raising property tax burdens for ordinary citizens and vulnerable groups," and he promised, "We will introduce tailored measures to alleviate tax burdens for single-home owner-occupiers to support housing stability."

Recently, the average officially assessed property value in Seongnam has risen by 21.86%. As a result, even without changes in property tax rates, the increase in the taxable base is expected to drive up citizens’ tax burdens. Kim assessed that, amid external economic uncertainties and an economic downturn, the rising assessed property values could have a direct impact on the livelihoods and economic well-being of ordinary citizens.

The core of this pledge is to promote property tax reductions for vulnerable groups among single-home households. The target groups include basic livelihood security recipients, people with severe disabilities, elderly retirees without income, and single-parent families. Kim’s campaign explained that detailed eligibility criteria would be established by comprehensively considering income levels and tax equity.

In addition, Kim plans to establish a "one-stop support system for holding taxes" to reduce inconvenience for citizens during the tax payment process. This administrative system will provide measures such as extensions for tax payment deadlines, deferrals of collection, installment payment options, and notification deferrals for citizens facing difficulties in paying taxes due to disasters, illness, or livelihood crises.

In particular, Kim intends to institutionalize systems for submitting opinions and filing objections regarding officially assessed property values, so that citizens can more easily and promptly exercise their rights related to taxation.

Candidate Kim Byungwook stressed, "The property tax burden should never threaten the livelihoods of citizens who live in the only home they have saved for throughout their lives, or those in vulnerable groups," adding, "Seongnam City will proactively utilize every available measure and, when necessary, make strong recommendations to the central government and the National Assembly to do our utmost to protect citizens’ housing stability and livelihoods."

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