Gyeonggi Province is promoting a 're-verification' of individual official land prices that have received objections.
On the 11th, Gyeonggi Province announced that it received 3,894 objections to individual official land prices for 4.85 million parcels as of January 1 this year and decided to proceed with re-verification accompanied by certified appraisers.
Earlier, on April 30, Gyeonggi Province determined and announced the individual official land prices for 4,853,656 parcels within the province. As a result, by the 30th of last month, a total of 3,894 objections were received, including 2,935 requests for upward revision and 959 requests for downward revision.
The areas with many upward revision requests were Osan-si (547 cases), Guri-si (522 cases), and Siheung-si (290 cases), which are regions where development projects are underway. Gyeonggi Province explained that there were many opinions that the official land prices were too low, especially in areas preparing for compensation.
On the other hand, areas with many downward revision requests included Yongin-si (116 cases), Hwaseong-si (110 cases), and Yangpyeong-gun (97 cases). Gyeonggi Province stated that there were concerns about the tax burden due to the high land price increase rate compared to last year and that the land prices in certain areas were set excessively high compared to surrounding lands.
Gyeonggi Province, together with city and county governments, will re-verify the appropriateness of land price assessments for the lands with objections through the 'Certified Appraiser Civil Complaint Consultation System,' which provides direct consultations with certified appraisers. This includes reviewing land characteristics, the appropriateness of applying comparable standard land, and price balance with nearby lands.
After re-verification, adjustments will be announced on June 27 following deliberation by the Real Estate Price Disclosure Committee.
Ko Jung-guk, Director of the Land Information Division of Gyeonggi Province, said, "Since individual official land prices are used as the basis for various land-related taxes and charges, we will actively promote land policies that communicate and empathize with residents by ensuring fair and accurate re-verification by certified appraisers for lands with objections, so that residents can trust the determined and announced individual official land prices."
Meanwhile, the Certified Appraiser Civil Complaint Consultation System is a system where landowners or interested parties make a prior reservation to confirm the consultation method (on-site consultation at the land location, consultation at the civil service office, or telephone consultation) and then directly consult with the certified appraiser responsible for verifying the relevant land. It was established to resolve civil complaints and enhance the reliability of individual official land prices and is being implemented for the first time this year in cooperation with 31 cities and counties.
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