[서울신문] “The ratio of real estate tax to GDP 4.05%… Ranked 3rd in OECD after Britain and Korea.”

People’s Power “Improved Holding Tax Level in Advanced Countries”

The proportion of real estate tax in Korea to the size of the economy was found to be the third largest among member countries of the Organization for Economic Cooperation and Development (OECD).

According to Assemblyman Gyeong-Jun Yoo’s office on the 15th, Korea’s real estate tax ratio to GDP was 4.05% as of 2018, the third among OECD member countries after the UK (4.48%) and France (4.13%). This is more than twice the level of the OECD average (1.96%). Real estate tax is a combination of property tax and personal capital gains tax. After Korea, the United States (3.97%), Luxembourg (3.85%), Canada (3.45%), and Belgium (3.23%) were in order.

In terms of holding tax alone, Korea was 0.82% in 2018, lower than the OECD average (1.07%). However, with the strengthening of the holding tax, it increased significantly to 0.92% in 2019 and 1.20% last year. President Moon Jae-in said at a meeting of chief and advisors held at the Blue House in August last year that “the burden of holding tax has been increased, but it is still low compared to other developed countries.” As a result of the posting, Korea is no longer a country with a low ownership tax in the OECD,” he said. “Considering that the increased tax rate is applied from this year on, Korea’s real estate ownership tax share is expected to be at the top.”

Some argue that the real estate gap widened as the real estate tax strengthened. According to the’Real Estate Gini coefficient’, which represents the real estate asset gap that Yu’s self-estimated real estate asset gap based on the National Statistical Office’s household financial welfare survey, the coefficient from 0.491 in 2017 grew to 0.500 in 2018, 0.507 in 2019, and 0.513 last year, gradually increasing the polarization. Showed.

Reporter Sejong Na Sang-hyun [email protected]