Kim Eun-hye: "Punitive Tax on One House... Public Price Assessment is Opaque" Noh Hyung-wook: "Will Create Supplementary Measures"

Kim Eun-hye: "Public Price Assessment is Opaque and Desk-bound Administration"
Nominee Noh Hyung-wook: "Will Create Tax Supplementary Measures"

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] At the confirmation hearing for nominee Noh Hyung-wook, Minister of Land, Infrastructure and Transport, held on the 4th, opposition lawmakers launched a series of attacks and criticisms over the calculation of official property prices.

Kim Eun-hye, a member of the Land, Infrastructure and Transport Committee from the People Power Party, directly criticized, “The government and ruling party say it is not for the purpose of tax increase in words only, but the structure is such that owning even one house results in punitive taxes due to the official property price. (Yet) nominee Noh Hyung-wook is saying there will be no adjustment to the official property price.”

In particular, Rep. Kim pointed out that only 520 surveyors and 25 external experts are responsible for calculating the official property prices of 14.2 million houses, and that fairness verification is not being conducted. She said, “Official property prices affect basic pensions, livelihood benefits, and health insurance premiums, so they must be determined carefully, fairly, and transparently, but it is hard to accept that only a few experts are verifying the official land price calculations for 14.2 million houses. The number of surveyors, 520, has decreased by 40 compared to 2019,” adding, “That is why there are many objections from the public.”

Rep. Kim presented official property price data based on the existence of community centers, fire stations, and post offices, and pointed out, “Candidate, your house’s official property price basic data is also being prepared in this way,” criticizing, “It is desk administration and the official property price is being determined blindly.”

In response, nominee Noh Hyung-wook replied, “I will create supplementary measures to prevent increased tax burdens or sudden changes in health insurance due to the significant rise in official property prices.”