The National Tax Service (NTS) will begin sending comprehensive real estate tax bills from the afternoon of the 23rd. The number of recipients will decrease to under 1 million, and the tax amount will also be reduced by about 30%.
An NTS official stated, "We plan to submit the comprehensive real estate tax bills to the post office this afternoon," adding, "Recipients may start receiving the bills as early as tomorrow."
Earlier, the NTS launched this year's comprehensive real estate tax inquiry service through Hometax and Sontax on the 21st. The filing and payment period for the tax is from the 1st to the 15th of next month.
The number of taxpayers and the tax amount for this year's comprehensive real estate tax are expected to decrease compared to last year. The previous tax bill recipients totaled 1.33 million, including 1.22 million for housing and 115,000 for land. The Ministry of Economy and Finance estimates this year's comprehensive real estate tax revenue at approximately 5.71 trillion won, about 1.08 trillion won less than last year's actual revenue of 6.7988 trillion won.
This year, the official market value ratio used to determine the taxable standard for the comprehensive real estate tax is 60%. The official market value ratio was maintained at 80% for ten years from 2008, when the system was introduced, until 2018, then rose to 95% in 2021, but dropped to 60% last year due to a sharp increase in official property prices.
Recently, the government reaffirmed its policy to ease holding tax burdens by freezing next year's official property price realization rate at 69%, making it highly likely that the burden of comprehensive real estate tax and property tax will further decrease.
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