'Land Characteristic Survey' Conducted for Individual Official Land Price Assessment in Yongin City

5000 Parcels Subject to Reasons for Division, Merger, and Land Category Change

Yongin City in Gyeonggi Province announced on the 4th that it will conduct a 'Land Characteristics Survey' by the 19th of this month to calculate individual publicly announced land prices.

The 'Land Characteristics Survey' investigates changes in land characteristics such as land use status through various study materials and on-site verification, and is used as basic data for calculating individual publicly announced land prices.

The survey targets about 5,000 parcels of land where land movements such as division, merger, or land category changes have occurred up to June 30 of this year. The survey is conducted by reviewing official records such as land use plan confirmation certificates and building registers, as well as various permits and approvals, and by verifying on-site land use conditions, road conditions, and other land characteristic items.

Once the land characteristics survey is completed, individual publicly announced land prices for each parcel are calculated by deriving price multipliers based on the land price comparison table, comparing the characteristics of standard land whose price is determined and announced by the Minister of Land, Infrastructure and Transport. The calculated individual land prices will undergo verification by appraisal experts, submission of opinions by landowners, and review by the Gyeonggi Province Real Estate Price Public Announcement Committee, with the final decision and announcement scheduled for October 31.

A city official stated, "Since individual publicly announced land prices are used as standards for various taxes such as national and local taxes, we will do our best in the land characteristics survey to ensure accurate calculation."