How Much Is the Property Tax Revenue in July for Songpa-gu, the Wealthy District with High Housing Prices?

[Seoul District News] Songpa-gu Imposes 266.7 Billion KRW Property Tax in July; Half Tax on Houses, Full on Buildings and Ships... Guro-gu Wins Excellence Award in National Local Government Job Competition

[Asia Economy Reporter Jongil Park] Songpa-gu (Mayor Seogangseok) announced on the 21st that it has imposed 266.7 billion KRW in regular property tax for July 2022 on houses, buildings, and ships.

The taxpayer is the owner of the real estate as of the tax base date (June 1 every year). In July, property tax is imposed on houses (1/2), buildings, and ships, and in September, the remaining houses (1/2) and land are taxed. This year, if the property tax (principal + urban area portion) amount is 100,000 KRW or less, the entire tax amount will be notified at once in July.

The increase rate of apartment prices in Songpa-gu was set at 14.4%, slightly higher than the Seoul city average apartment price increase rate of 14.2%. To reduce the property tax burden, the Local Tax Act Enforcement Decree was revised this year, applying a fair market value ratio of 45% instead of the current 60% for single-household single-homeowners as of June 1. Also, for single-household single-homeowners with a publicly announced housing price of 900 million KRW or less, the property tax rate is reduced by 0.05% per tax bracket, the same as last year. The details of the reduction can be confirmed through the tax bill.

Payment can be made at all banks nationwide, and also conveniently through various methods such as ▲automatic transfer ▲virtual account transfer ▲STAX (smartphone app), ETAX system (etax.seoul.go.kr) ▲ARS (1599-3900) ▲simple payment.

The district office warned that on the payment deadline, August 1, financial institution counters are expected to be crowded and internet access slow, causing difficulties in payment, so early payment is advised to avoid additional charges or other disadvantages.

Lee Eunju, head of the Taxation Division 1, said, “We express our gratitude to the residents who fulfill their tax obligations despite the difficult economic situation such as COVID-19,” and added, “Since property tax is a valuable resource used for the residents, we will continue to do our best for fair and trustworthy local tax administration.”

Guro-gu (Mayor Moon Heonil) won the Excellence Award at the ‘2022 National Local Government Job Awards’ hosted by the Ministry of Employment and Labor.

With this award, Guro-gu has achieved a remarkable record of winning awards for 13 consecutive years in various job evaluations conducted by the Ministry of Employment and Labor since 2010.

The ‘National Local Government Job Awards’ is held annually by the Ministry of Employment and Labor to publicize local governments’ efforts and achievements in job creation and to raise social interest.

This year, the evaluation was conducted on 243 local governments nationwide (17 metropolitan, 226 basic) by comprehensively considering the number of employment insurance subscribers, number of employed persons, achievement of job targets, and performance of key core projects. The evaluation was divided into a first written review and a second face-to-face review on three indicators: job creation planning, execution, and performance.

At the awards ceremony held on the 21st at the Government Sejong Convention Center, Guro-gu received the Excellence Award in the public disclosure category.

Guro-gu has implemented various policies such as job fairs, customized vocational skill development training and employment linkage, and operation of startup support centers to create jobs and improve employment rates for residents. Through these efforts, it created 22,023 jobs last year, exceeding the target of 13,500.

This achievement was based on key excellent cases such as ▲strengthening the G-Valley employment ecosystem project ▲youth settlement stabilization policies including Youth Dream operation and Youth Attic creation ▲Guro-type employment growth support measures responding to COVID-19 employment crisis and labor market changes ▲support policies for small business owners preparing for digital transformation ▲smart city creation projects for upgrading local industries.

In particular, the district received high evaluations for achieving a high employment rate by preparing customized employment programs by age and situation according to the needs of companies and residents. Various programs were operated, including professional technical workforce training projects, G-Valley bio-medical device workforce training projects, village bus driver training courses, and total reemployment projects for middle-aged and older adults. Additionally, projects such as work experience support, metropolitan job cafes, and internship specification building for job seekers were also carried out to improve youth employment rates.

This year, Guro-gu announced on its website a goal to create 14,000 jobs based on four promotion strategies and 28 major projects. As a main project, it is promoting industry-government-academia cooperation projects with Dongyang Mirae University and Soongsil University to nurture core talents in the 4th industrial sector and support innovative technologies tailored to G-Valley companies.

Also, to support employment activities and prevent isolation of youth who have given up job seeking, the Youth Challenge Support Project is underway. It supports social advancement through counseling, self-exploration, and linkage with the National Employment Support System for youth aged 18 to 34 who have given up job seeking and youth who have been protected for more than one year in youth shelters.

A Guro-gu official said, “The result of our efforts to create good jobs every year has led to the great achievement of winning job-related awards for 13 consecutive years,” and added, “We will continue to do our best to promote support policies to create many jobs amid the unstable local economic situation.”