The property tax burden seems to increase significantly in areas where public prices skyrocketed and in the metropolitan area.
The government reads the published price of apartment houses in 2021 starting on the 16th
(Sejong = Yonhap News) Reporter Yoon Jong-seok = The publicly announced prices of apartments and apartments nationwide this year are up 19% over last year.
Most of all, the government explained that it was because the house price rose that much. Among them, in Sejong City, where house price overheating was severe, the official price skyrocketed more than 70% from last year.
The Ministry of Land, Infrastructure, and Transport announced on the 15th that it would read the ‘2021 public housing price plan’ from the 16th and listen to the owners’ opinions.
This year, the national average public housing price increase rate was calculated to be 19.08%.
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The current government started to realize the official price, but there was no such a large rate of change.
The rate of increase in the public housing price for apartment houses has been on a gentle upward curve from 4.44% in 2017 to 5.02% in 2018 and 5.23% in 2019, followed by 5.98% last year, but this year suddenly took a double-digit increase.
It is the highest in 14 years since the 22.7% in 2007, when the publicly announced prices were raised a lot at the same time during the past participatory government.
In regions where the recent price increase rate has risen, the public price increase rate has been high.
Sejong surged 70.68% compared to last year, Gyeonggi-do increased by 23.96%, and Daejeon increased by 20.57%.
Seoul rose 19.91%, Busan rose 19.67%, and Ulsan rose 18.68%.
Among the 17 cities and provinces, the lowest rate of increase was 1.72% in Jeju Island.
The Ministry of Land, Infrastructure and Transport explained that the’Public Price Realization Roadmap’ announced last year was applied to calculate the public housing price this year.
According to the roadmap, the public housing price realization rate will rise to 90% by 2030. For those with less than 900 million won, the realization rate will reach 90% by 2030, but for those with more than 900 million won to 1.5 billion won in 2027, the realization rate will reach 90% in 2025, and so on.
The Ministry of Land, Infrastructure and Transport said that this year, the actualization rate was raised by only 1.2 percentage points.
Apartment houses with a price of 900 million won or more will increase by 3% per year on average, and those with a market price of less than 900 million won will increase by 3 percentage points after raising the actualization rate to 70% by 2023 by 2023. The realization rate rose only 0.63 percentage points.
Nevertheless, the reason why the quoted price increase rate is record high is that the market price has risen that much.
An official from the Ministry of Land, Infrastructure and Transport said, “The realization rate has risen slightly, but the price of apartments has risen a lot last year, and the published price has risen by that level.”
The median public price was 160 million won nationwide, and Sejong was the most expensive with 432 million won by region, followed by 380 million won in Seoul, 280 million won in Gyeonggi, and 170 million won in Daegu. The median price ranking has changed for the first time since 2006, when the apartment price disclosure was implemented.
For this reason, it is interpreted that among 17 cities and provinces, the rate of increase in the published price of Sejong has soared by more than 70%.
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Property taxes are also expected to rise sharply in Sejong, Daejeon, Busan, and the metropolitan area, where public prices have soared.
Multi-unit housing units with a public price exceeding 900 million won, subject to comprehensive real estate tax for one household, are 525,000 units (3.7%), and 413,000 units (16.0%) in Seoul.
The government emphasized that the tax burden would be reduced for houses with an official price of 600 million won or less, which is more than 92% of the total.
Among apartment houses, the number of houses with a public price of 600 million won or less, subject to the special property tax rate, is 13,088,000 units, 92.1% of the total. In Seoul, it is 1825,000 units, or 70.6% of apartment houses.
The Ministry of Land, Infrastructure and Transport said, “According to last year’s property tax burden reduction plan, the tax rate reduction effect (22.2-50% of property tax for housing) for homeowners is greater than last year’s increase in property tax (up to 5-10%) due to the increase in the public price. The amount of property tax burden is reduced,” he explained.
In the case of housing, a detailed charge limit system is in place, limiting the increase in property tax by 5% for the listed price of 300 million won or less compared to the previous year’s property tax, 10% for the listed price exceeding 300 million won to 600 million won, and 30% for those exceeding 600 million won.
However, one-householders with a publicly announced price exceeding 900 million won, or multi-homeowners with a combined publicly announced price of over 600 million won, may be liable for tax.
A plan to ease the burden of health insurance premiums arising from fluctuations in the published price has also been prepared and will be applied from this November.
Under the current system, an average monthly premium of about 2,000 won per household can be raised, but the government plans to lower the premium by increasing the property deduction by an additional 5 million won when calculating insurance premiums for local subscribers. In this case, the insurance premium burden of 7.3 million local affiliated households, which is 89% of all locally subscribed households, can be reduced by an average of 2,000 won per month.
The number of apartment houses subject to disclosure this year is 14.25 million units, an increase of 2.7% from 13.83 million units last year.
The proposed public housing price plan is scheduled to be decided and disclosed on the 29th after receiving opinions from the owners by the 5th of next month and after deliberation by the Central Real Estate Price Disclosure Committee.
From the 16th, the published price plan can be viewed on the website (www.realtyprice.kr) and the Civil Affairs Office of City/Gun/Gu offices.
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2021/03/15 11:00 sent