Don’t worry about senior citizens as it reduces the tax by up to 80%?… “The burden of property tax is greater. It is like a copycat.”

Input 2021.03.19 15:30

“It’s not like Samson Jo, and I feel worse because I’m deliberately cheating on people.”

Mr. Park, 77, who owned Hanbomido Mansion Apartment in Daechi-dong, Gangnam-gu for 37 years, came out from a sigh after seeing the proposed price increase this year announced by the Ministry of Land, Infrastructure and Transport. This is because it was impossible to predict how much the ownership tax, which was a burden, would increase this time. I was relieved to see that the Ministry of Land, Infrastructure, and Transport announced that the tax burden will be substantially reduced in the case of the elderly who own one house for a long time.

As announced by the Ministry of Land, Infrastructure and Transport, the amount of tax increase was less than expected. Mr. Park complained, “When the apartment was built in 1983, I bought it and lived in one house for nearly 40 years.” .

According to the real estate industry on the 19th, the official price of apartments nationwide this year increased by an average of 19.1%. The distress of the elderly one-homed is deepening. This is because taxes such as property tax and comprehensive real estate tax as well as various quasi-taxes such as construction fees are determined based on the published price.

When the opposition public opinion showed signs of work, the Ministry of Land, Infrastructure and Transport released a press release on the 17th and said, “In the case of one household and one house (alone or jointly owned), the upper limit of the combined tax credit for the elderly and long-term owners will be expanded from 70% to 80% from this year. “He said. In some media, there were reports supporting the claims of the Ministry of Land, Infrastructure and Transport, saying that it was a’fact check’. In the case of aged 1 houses, the actual burden was not large due to the large reduction in exemption.

The government’s argument is not wrong. The current tax deduction is applied for elderly people aged 60 to 65 years old, 20% ▲65 to 70 years old, 30% ▲70 years old and over 40%. Long-term holders ▲5 years or more 20% ▲10 years or more 40% ▲15 years or more up to 50% additional deduction. If both deductions are applied in duplicate, up to 80% can be deducted.

However, because of this, the fact that the increase in the tax burden is insignificant is’half the truth’, analysts say. This is because a significant portion of the actual holding tax is accounted for by property tax, not ending tax. Considering the increase in property tax, experts point out that the tax burden of the majority of elderly single-homed without income is still large, but it is being promoted as if it is a huge reduction.

Calculating the holding tax of 128m2 exclusively for the Daechi-dong Hanbomido Mansion apartment, which Mr. Park owned by commissioning Woo Byung-tak, the manager of the Real Estate Investment Advisory Center of Shinhan Bank, was calculated. Although it increased by about 580,000 won, the property tax increased close to 900,000 won from 39,98280 won to 4.89 million won. The official price of this house was 2.3 billion won this year from 2,051 billion won last year. The property tax rate of the total ownership tax is around 48%, which is almost 30% higher than the 18% level of taxation.

The situation is similar to Kim Mo, Yangcheon-gu, 63 years old, who lived after purchasing 101.2m2 for apartment 7 in Mokdong New Town 20 years ago. The official price of the apartment, which reached 1.57 billion won this year from 1.36 billion won last year, has increased by about 350,000 won from 48,3672 won to 952,272 won. However, the property tax rose by 700,000 won from 2.45 million,760 won to 3,154,800 won. Of the total ownership tax, the ratio of the tax to the end of the family is 10-15%, but only 50% of the property tax is. The rest is the urban area bonsai tax.

When 65-year-old Yangmo retired 10 years ago, the 124m2 of Jamsil Recenz exclusive area started to live and own, and the publicly announced price jumped from 1,596 million won last year to 1,892 billion won. Among the possession tax that Yang has to pay, the jong-tax tax increased by about 900,000 won from 1.3 million,8438 won to 2,188992 won. Property tax also increased by more than 650,000 won from 3,0997,720 won to 3.75 million won. In this case, the tax reduction was helpful, but the proportion of property tax was much larger.

Park Won-gap, chief real estate expert at KB Kookmin Bank, said, “Some houses have a property tax that amounts to 60-70% of the total ownership tax.” He said, “There is a tax reduction or exemption system, but if the public price goes up, the property tax itself increases, and there is a burden.”

Some point out that the tax reduction was also limited to certain cases. “For those who are over 15 years old and over 70 years old, the tax reduction is large, as the government said,” said Woo Byeong-tak, head of the team. said.

One real estate expert who requested anonymity said, “I have doubts whether the government has chosen the strategy of Seongdonggyeokseo (聲東擊西) to increase the property tax while catching the attention of the government tax.” He also said, “With the’punitive holding tax’, sales will be released for about a month from the end of this month, but the amount will not be large.” In) After June, the property lock-up phenomenon may worsen, and side effects may increase,” he said.