Temporary Two-Homeowners with Two '1.5 Billion Won Houses', Comprehensive Real Estate Tax from 32.54 Million Won to 4.27 Million Won [6·21 Real Estate Measures]

If You Sell Your Previous Home Within 2 Years, You Are Considered a Single-Home Owner... If Not, Comprehensive Real Estate Tax Plus Interest Will Be Collected After 2 Years

[Asia Economy Sejong=Reporter Kwon Haeyoung] In the future, if a person temporarily becomes a two-homeowner due to moving and sells the previous house within two years, they will be considered a single homeowner for comprehensive real estate tax purposes, significantly reducing their tax burden.

On the 21st, the government confirmed the third-quarter real estate normalization tasks, including this measure, at the '1st Real Estate Related Ministers' Meeting' chaired by Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho.

The government decided to consider temporary two-homeowners, inherited homeowners, and owners of low-priced houses in provincial areas as single homeowners for comprehensive real estate tax purposes and specified the requirements. For temporary two-homeowners, if they acquire a new house due to moving and dispose of the existing house within two years, they will be regarded as single homeowners.

For example, if Mr. A owns a house with a publicly announced price of 1.5 billion KRW in a regulated area and acquires another house with a publicly announced price of 1.5 billion KRW in the same regulated area for moving purposes, the comprehensive real estate tax amount will significantly decrease from the current 32.54 million KRW to 4.27 million KRW. However, if Mr. A does not transfer the existing house within two years after purchasing the new house, he will be subject to additional charges equivalent to interest on the reduced comprehensive real estate tax amount.