"Objection Period Announced" ... Changwon Special City Determines and Discloses This Year's Individual Housing Prices

On April 29, Changwon Special City announced the determined and disclosed individual housing prices for 72,205 houses as of January 1 of this year. The city will operate an objection period for the published prices from April 30 to May 29.

Changwon Special City Hall.

Previously, on April 22, the city held a Real Estate Price Disclosure Committee meeting to review the appropriateness of the price assessments and the price balance between neighboring houses and regions.

This year, the individual housing prices in Changwon Special City rose by 0.93% compared to the previous year. This increase is a result of rising housing demand in areas where the residential environment has improved due to the commencement of redevelopment projects and the completion of urban maintenance projects, as well as an increase in construction costs.

The determined and disclosed individual housing prices can be viewed at the tax departments of the district offices where the houses are located or at the administrative welfare centers in each town, township, or neighborhood. They are also available on the Real Estate Price Disclosure Information website and the Changwon City Hall website. Homeowners and interested parties who have objections to the housing prices may file an objection at the tax department of the relevant district office or the administrative welfare center during the objection period.

The individual housing prices for which objections are filed will undergo re-verification by the Korea Real Estate Board and a review by the Real Estate Price Disclosure Committee. The results will be individually notified to the applicants, and the final adjustments and disclosures are scheduled for June 26.

Kim Changwoo, head of the Taxation Division, urged, "Since the disclosed housing prices are used as the basis for various taxes, including national and local taxes, and are closely related to property rights, I strongly encourage everyone to check the appropriateness of their housing prices during the objection period."