Muan-gun Imposes 8.85 Billion KRW Property Tax... 3.4% Increase Due to New Buildings

If Payment Deadline Is Missed, a 3% Late Payment Penalty Is Added, and Property Seizure Is Possible

Muan-gun, Jeollanam-do (Governor Kim San) imposed a total property tax of 8.85 billion KRW on 43,536 cases in July 2024.

According to the county on the 12th, this represents a 3.4% increase compared to the previous year, with notable factors including the completion of new apartments in Oryong 2 District and Muan-eup, as well as the registration of Jin Air's Muan Airport maintenance facility.

The property tax payers as of June 1 are owners of houses, buildings, ships, and aircraft, and the assessed property tax must be paid by July 31.

Exterior view of Muan-gun Office Building

Property tax on houses, buildings, ships, and aircraft is levied annually in July and September. In particular, if the annual tax amount for a house is 200,000 KRW or less, the full amount is levied in July.

Payment of property tax can be made through various methods. In addition to payment at financial institutions nationwide, internet payment services such as WETAX, Giro, internet banking, and smartphone WETAX can be used.

It is also possible to pay via NongHyup virtual accounts, local tax deposit accounts, and taxpayers can check and pay local taxes through cash withdrawal machines (CA/ATM) using their own cards or bankbooks.

A county official urged, "If the payment deadline is missed, a 3% late payment surcharge will be additionally imposed, and property seizure is also possible, so voluntary payment within the deadline is required."

The property tax imposition in Muan-gun plays an important role in laying the foundation for the county's development, and local residents should carefully understand the timing and methods of property tax to minimize their burden.

Muan = Asia Economy Honam Reporting Headquarters, Reporter Oh Hwan-ju just8440@asiae.co.kr