The lowest price is 884 won per square meter for forest land in Wang-dong, Gwangsan-gu
City's official land prices rise by an average of 1.94% compared to last year
On April 30, the city of Gwangju finalized and announced the official individual land prices as of January 1, 2025, which will be used as the basis for imposing national and local taxes, as well as development charges related to land.
The announcement covers 373,980 land parcels. Based on standard parcels surveyed by the Ministry of Land, Infrastructure and Transport, the city assessed the characteristics of each individual parcel, calculated the land price, and finalized the prices after verification by certified appraisers, public inspection, submission of opinions, and review by the real estate price disclosure committees of each district.
This year, the official individual land prices increased slightly by 1.94%. This is higher than last year's 1.45% increase, but lower than the national average of 2.72%. By district, the increases were as follows: Buk-gu (2.23%), Nam-gu (2.16%), Seo-gu (2.09%), Gwangsan-gu (1.72%), and Dong-gu (1.38%).
Compared to the previous year, land prices rose for 358,306 parcels and fell for 9,840 parcels. The prices remained unchanged for 3,996 parcels, while 1,838 parcels were newly included in the announcement.
The highest land price was recorded at the Chungjangro 2-ga Post Office in Dong-gu, at 12.27 million won per square meter (down 1.37 million won from the previous year). The lowest price was for a forest land in Wang-dong, Gwangsan-gu, at 884 won per square meter (up 7 won from the previous year).
Landowners and interested parties who wish to file an objection to the official individual land prices must submit an objection form in person, by mail, by fax, or through the Real Estate Price Notification Service and Government24 to the relevant district office by May 29.
For parcels with objections, the appropriateness of the determined land price will be investigated, and if changes are necessary, the adjusted prices will be announced on June 26.
Kim Kiho, head of the Land Information Division, stated, "Since the official individual land price serves as the basis for national and local taxes as well as various charges, we strongly encourage everyone to check it."
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