Pocheon City Announces 2026 Standard Market Value for Other Properties

Pocheon City in Gyeonggi Province has determined and announced the '2026 Standard Market Value for Other Properties,' which has been in effect since January 1.

Pocheon City Hall exterior. Provided by Pocheon City

The standard market value for other properties is calculated in accordance with the 'Local Tax Act' and applies to various types of assets excluding land and buildings. These other properties include vehicles, machinery and equipment, ships, aircraft, facilities, standing timber, fishery rights, membership rights, and underground resources, among others.

This year, Pocheon City has set the standard market value for a total of 130,978 types of other properties. By category, vehicles accounted for the largest share with 105,801 types, followed by machinery and equipment with 13,310 types, membership rights with 4,211 types, facilities with 2,636 types, aircraft with 251 types, fishery rights with 238 types, underground resources with 231 types, ships with 140 types, and standing timber with 97 types.

The standard market value for other properties is determined by applying the base prices announced by the Minister of the Interior and Safety, along with residual value rates by elapsed years and other requirements stipulated by relevant laws. Detailed information can be found in the '2026 Standard Market Value for Other Properties' posted on the Pocheon City website.

An official from Pocheon City stated, "The standard market value for other properties serves as an important indicator for levying local taxes such as acquisition tax and property tax," adding, "We will do our best to ensure fair taxation by applying objective and reasonable standards."

The official further remarked, "With this announcement, we aim to enhance transparency in tax administration and faithfully carry out related work to build a tax administration that citizens can trust."