Bonghwa County Begins Inspection of Individual Official Land Prices as of July 1

Opinions Accepted Until September 22
Basis for Tax Assessment, Residents Urged to Participate

Bonghwa County in Gyeongbuk has completed the assessment and verification of individual officially announced land prices as of July 1, 2025, and has begun the process of public inspection and collecting opinions from landowners and interested parties, which will continue until September 22.

Bonghwa County Office, Gyeongbuk. Photo by Byunggeon Kwon

This review covers a total of 1,134 parcels of land where changes such as division, merger, or land category modification occurred during the first half of this year (from January 1 to June 30).

If landowners or interested parties believe that the assessed individual land prices are inappropriate during the inspection period, they may submit their opinions by comparing them with the prices of standard land or neighboring parcels.

Inspection can be conducted at the town or township offices where the land is located, or through the Ministry of Land, Infrastructure and Transport's 'Real Estate Price Information System.' Bonghwa County plans to finalize and officially announce the prices on October 30, after reviewing the opinions submitted between September 1 and 22 over a 20-day period, through verification by an appraisal corporation and deliberation by the Bonghwa County Real Estate Price Public Announcement Committee.

Song Inwon, Director of the Comprehensive Civil Service Office, emphasized, "Since individual officially announced land prices serve as the basis for various taxes, including national and local taxes, it is essential for landowners and interested parties to actively review and submit their opinions," adding, "Please examine the information carefully to ensure that county residents do not suffer any disadvantages in exercising their property rights."

Individual officially announced land prices are not merely estimates of land value, but serve as important indicators that affect all aspects of residents' lives, including taxation, development, and transactions. Active interest is needed, as this inspection and opinion submission process is the first gateway to protecting the property rights of Bonghwa County residents.