"Payment Deferral" Applications Due by December 12
"Installment Payment" Applications Due by December 15
The National Tax Service has sent out notifications to 630,000 individuals who are required to pay the comprehensive real estate holding tax this year. The assessed tax must be paid by December 15.
The National Tax Service announced on November 26 that it has been sequentially sending out tax bills and notifications for the 2025 comprehensive real estate holding tax to taxpayers starting from November 24. The assessed tax must be paid by December 15.
This year, the number of people notified and the total amount assessed for the comprehensive real estate holding tax are as follows: 540,000 individuals and 1.7 trillion won for residential properties, and 110,000 individuals and 3.6 trillion won for land. After excluding 20,000 individuals who overlap between residential and land categories, the total is 630,000 people and 5.3 trillion won.
The comprehensive real estate holding tax is imposed if, as of the taxation reference date (June 1), the total publicly announced value of residential properties or land owned by an individual exceeds the exemption amounts for each taxable asset category. The exemption amounts are as follows: 900 million won for residential properties such as apartments, multi-family, and single-family homes (1.2 billion won for single-home owners); 500 million won for combined land (such as vacant lots and miscellaneous land); and 8 billion won for separately assessed land (such as land attached to commercial buildings or factories).
If the total amount of comprehensive real estate holding tax payable (including the special rural tax) exceeds 3 million won, taxpayers may opt for installment payments for up to six months without any additional interest charges. Installment applications can be conveniently submitted through Hometax, and eligible taxpayers only need to pay the amount remaining after deducting the installment payment (due by June 15 of the following year) from the total assessed tax.
Among single-home owners, elderly individuals (aged 60 or older) or long-term holders (those who have owned the property for more than five years) who meet certain requirements may defer payment of the residential portion of the comprehensive real estate holding tax until the property is transferred, donated, or inherited, provided they offer collateral for the tax. The application period for payment deferral is until December 12, and a separate notification has been sent to the 13,000 eligible taxpayers. Applications for deferral can also be submitted through the National Tax Service’s Hometax website.
If the assessed comprehensive real estate holding tax is incorrect or if taxpayers have not filed for exclusion from aggregation or special cases, they may voluntarily file or submit exclusion/special case reports in accordance with the facts by the payment deadline, even if the assessed amount differs from the actual situation. When filing electronically through the National Tax Service’s Hometax system, taxpayers can conveniently report non-face-to-face by utilizing various support materials such as 'detailed inquiry of taxable objects' and the 'pre-filled service.'
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