[Asia Economy Honam Reporting Headquarters Reporter Kim Young-gyun] Hwasun-gun, Jeollanam-do (Governor Gu Chung-gon) announced on the 29th that it has determined and publicly announced the individual official land prices for 236,260 parcels of land as of January 1st this year.
The individual official land prices determined and announced this time were finalized through the land price assessment by the person in charge, verification by an appraiser, review and submission of opinions by landowners, and deliberation by the County Real Estate Price Public Announcement Committee.
This year’s individual official land prices in the county increased by 6.71% compared to last year, with the highest land price being a commercial building located in Manyeon-ri, Hwasun-eup, at 2,550,000 KRW per 1㎡.
The lowest land price was surveyed at 277 KRW per 1㎡ for forest land located in Sinyul-ri, Dongbok-myeon.
The county analyzed that the land prices rose in areas where prices had been evaluated lower compared to actual transaction prices and in areas where development factors occurred.
The determined and announced individual land prices are used as the basis for imposing land-related taxes such as national taxes including capital gains tax and inheritance tax, and local taxes including property tax and acquisition tax, as well as various charges. They are also used for calculating usage fees for national and public properties.
Individual official land prices can be viewed through the ‘Real Estate Official Price Informer’ and the county office website.
Landowners or interested parties who have objections to the announced land prices can fill out and submit the individual official land price objection form available at the Happiness Civil Service Department of the county office or the civil service offices of the town and township administrative welfare centers where the land is located by the 29th of next month.
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