Ulsan's Property Wealth Increased... Property Tax Imposed at 157.8 Billion KRW

Ulsan City Sees 6.2 Billion KRW Increase in July Regular Property Tax Compared to Last Year
Nam-gu Tops at 53 Billion KRW Payment Possible via Witax and Smartphone Use

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan's "property" has increased this year. Ulsan City imposed 157.8 billion KRW in regular property tax in July this year, which is 6.2 billion KRW more than last year.

The city announced on the 12th that the regular property tax in July this year is for houses (1/2), buildings, ships, and aircraft, and that houses (1/2) and land will be imposed as regular property tax in September.

However, for houses with an annual property tax amount of 200,000 KRW or less, the full amount is imposed in July.

The property tax imposed this time increased by 6.2 billion KRW compared to last year.

The factors for the increase include the rise in individual house prices, the increase in the standard price for new building construction, new building construction, and the completion of Shin-Kori Nuclear Power Plant Unit 4.

Looking at the imposition status by district and county, Nam-gu has the highest amount. Jung-gu is 20.9 billion KRW, Nam-gu 53.0 billion KRW, Dong-gu 17.8 billion KRW, Buk-gu 26.6 billion KRW, and Ulju-gun 39.5 billion KRW.

Property tax is a local tax imposed on those who own property as of June 1 every year, and payment is due from July 16 to July 31.

Payment methods include visiting any financial institution directly, using ATMs, virtual accounts, Internet Wetax, or Giro sites.

By downloading the "Smart Wetax" app on a smartphone and applying for local tax payment services, payments can be easily made via account transfer, card payment, KakaoPay, Naver Pay, Payco, etc., and the imposed details can be checked through the local tax calendar.

Additionally, taxpayers who find it inconvenient to visit banks or have difficulty using the Internet can use the toll-free automatic response system (ARS) phone to conveniently pay by credit card 365 days a year without a bill.

An official from Ulsan City said, "Property tax is a valuable resource used for citizens, and if the property tax is not paid by the due date, disadvantages such as an additional 3% surcharge may occur," and added, "We hope citizens will observe the payment deadline."