[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Dong-gu, Gwangju Metropolitan City (Mayor Im Taek) announced on the 9th that it will accept individual land price viewing and opinion submissions from the 14th of this month until the 4th of next month.
This is to collect opinions on the price level from landowners and stakeholders before determining the official land price for the relevant individual land, targeting a total of 35,005 parcels as of January 1, 2020.
The individual official land price is the price per unit area (KRW/㎡) for individual land calculated based on the standard land official price, and is used as data to calculate national taxes such as capital gains tax and inheritance tax, local taxes such as property tax and acquisition tax, and various charges.
Viewing is possible at the district office Civil Service Division, the administrative welfare centers where the land is located, and online at the ‘Real Estate Official Price Notification’ website.
If there are any opinions on the viewed individual official land price, you can fill out the opinion form available at the viewing locations and submit it to the Civil Service Division Land Management Section or each dong administrative welfare center by the 4th of next month.
Submitted opinions will be processed after verification by an appraisal corporation and review by the Real Estate Price Official Notification Committee, and the results will be individually notified to the opinion submitters. The final decision and announcement are scheduled for the 29th of next month.
Im Taek, Mayor of Dong-gu, said, “Since the individual official land price is an important basis for calculating various taxes such as national and local taxes, we ask for active interest in viewing the land prices.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
