July, the Month for Property Tax Payment

Gwanak-gu Extends Property Tax Payment for Homeowners, Building and Ship Owners Until July 31, Special Benefits for Single-Home Households
Seoul ETAX Supports Payment via Virtual Account, ARS, Smartphone App, and More

Gwanak-gu (Mayor Park Jun-hee) has imposed 41.6 billion KRW in regular July property tax and is providing various payment methods for the convenience of residents.

Property tax is levied twice a year (July and September), with half of the housing portion and non-residential buildings and ships being taxed in July.

The payment deadline is July 31, and a 3% penalty tax will be added if payment is late. Additionally, for property taxes exceeding 450,000 KRW, if unpaid by August 31, a monthly penalty of 0.66% (up to 60 months) will be added.

Property tax payments can be made through various methods including ▲visiting financial institutions ▲ARS (Automated Response System) ▲ATM ▲virtual account payment ▲Seoul ETAX (online payment) ▲installing the Seoul STAX app and paying via simple payment apps or financial institution apps.

Following last year, the district has extended the special measure on the fair market value ratio (used for property tax base calculation) for one household one house owners in accordance with government policy.

▲For housing official prices up to 300 million KRW, the ratio is 43% ▲for prices exceeding 300 million KRW up to 600 million KRW, 44% ▲for prices exceeding 600 million KRW, 45%.

Furthermore, one household one house owners with housing official prices up to 900 million KRW receive an additional special tax rate reduction of 0.05%, easing the property tax burden.

For more details, please check the Gwanak-gu website or the enclosed notice with the property tax bill, or contact the Gwanak-gu Property Acquisition Tax Division.

The district operates a ‘One-day Taxpayer Assistant’ service, providing various tax services for taxpayers such as reissuing property tax bills and ATM payment guidance.

Mayor Park Jun-hee said, “We hope residents use the various payment services to save time and costs and conveniently pay their property taxes,” and added, “Please pay within the deadline to avoid disadvantages such as penalty tax imposition.”