If the officially soaring land exceeds 650 million won, you will not be able to receive the basic pension.

[매일경제DB]

What is the official price of my house as of this year? From the 16th, the publicly available prices for apartment houses as of 2021 will be opened through the Korea Real Estate Agency website.

Last year, there were 3,7410 complaints filed with the Ministry of Land, Infrastructure and Transport, claiming that there is a problem with the official price of my apartment. The number of opinion submissions on the published price increased by 190 times in four years from 191 in 2016 due to the increase in the published price.

There are 63 systems related to tax payment, welfare, and administration linked to the published real estate prices. Among them, there are only unusual cases in which the publicly announced price of housing and land is advantageous for owners to rise, such as the government compensation standard that is received when real estate is accepted. The burden on real estate owners increases when the public price increases, such as the loss of government welfare benefits or increases in taxes.

If the disclosure of 0 won in income exceeds 130 million won, the basic living beneficiary will be eliminated.

When it comes to housing prices, it’s often thought that the wealthy people living in expensive homes usually have to do with paying high taxes. However, there may be cases in which ordinary people, who have everything in my house, are not able to receive government subsidies or welfare benefits due to the increase in public prices. This is because most of the government’s welfare system converts wealth into income and prevents receiving benefits if it exceeds a certain standard.

It is not easy to calculate the recognized income, which is the sum of income and various assets, by yourself. However, it can be easily considered as a simulated calculation service provided by the welfare portal’Welfare Road’.

In the case of single-person households with no income at all, if one house, which is all property, exceeds the official price of 130 million won, it cannot be eligible for Basic Livelihood Security. The Basic Livelihood Security System consists of four benefits: livelihood, medical care, housing, and education. If the public price exceeds 130 million won, none of the four benefits are eligible. With an official price of 120 million won, you can receive livelihood benefits, housing benefits, and education benefits, excluding medical benefits.

Considering the published price realization rate, the market price of a house with a published price of 130 million won is less than 200 million won. In large cities such as Seoul, the price is equivalent to an officetel or a small villa. If you have been living in the same house for decades and the public price increases and you lose the right to receive the Basic Livelihood Security System, it could be a very unfair situation.

The basic pension is also a problem. The basic pension is paid to senior citizens aged 65 years or older who are in the bottom 70% of their income. Income referred to here is the recognized income including property. As of this year, if the recognized income exceeds 1.69 million won, the basic pension cannot be received. For a house with an official price of 640 million won, the recognized income is 1.68 million won, and the basic pension can be pulled up. Older people who have no income but have an apartment in the middle of the official price of 650 million won (900 million won in terms of market price) do not receive the basic pension. You will also get a basic pension.

In addition, the selection and support of the disabled pension, long-term repayment of school expenses after employment, military service reduction and exemption from difficulties in maintaining livelihoods, work incentives, elementary and secondary education expenses, public housing, etc.

[사진 출처 = 연합뉴스]

If the public announcement exceeds the threshold of 1.5 billion, a monthly construction fee of 290,000 won

Taxes are also the most closely linked to the published housing prices. There are a total of seven taxes affected by the published price: property tax, comprehensive real estate tax, inheritance tax, gift tax, acquisition tax, registration and license tax, and capital gains tax.

In particular, since the tax rate has risen due to the successive real estate measures issued by the prefectural government, a big backlash is expected after reading the public housing price this year. Based on one house, the public price is 900 million won for a single name and 1.2 billion won for a joint name.

As a result, there will be a difference in joy and expense based on the published price of 900 million won. Last year, the official price of 25 pyeong of 3 complexes in Gyeonghuigungzai in Jongno-gu, Seoul was 896 million won, and one homeowner paid no tax. On the other hand, the official price of 25 pyeong of Olympic Athlete Reporter’s Village Apartment in Songpa-gu was 927 million won, subject to the final tax.

The biggest victims of the rise in public housing prices are those who are disqualified as dependents of health insurance premiums. Even those who did not pay health insurance fees because they were registered as dependents for their children’s health insurance after retirement may be converted to local subscribers due to the increase in public prices, and may be charged a health insurance fee.

If the published price of a house in possession exceeds 900 million won, a person with an annual income of 10 million won or more will be disqualified as a dependent. If the quoted price exceeds 1.5 billion won, it will be eliminated regardless of income. Even if there is no other property such as a vehicle and the income is 0 won, if there is one house with an official price of 1.5 billion won, a construction fee of 29,000 won per month is imposed. Last year alone, 516,000 people lost their health care dependents and converted to local subscribers.

The company and employees pay half of the health insurance fee for the employee subscribers, but the local subscribers are basically burdened with the health insurance fee because the subscribers pay the entire amount. In addition, since workers insured pay a health insurance fee in proportion to their income, when income decreases, the health insurance fee also decreases. Regardless of income, local subscribers increase the burden of construction fees only by increasing the public price. As the official price of apartments in Seoul is rising steeply, with a 10% increase every year, the burden of health care costs for retirees with high-priced apartments is expected to increase in the future.

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