This year the tax on housing tax has increased by 43% … It was not an exaggeration of “tax bomb” (total)

Enter 2020.11.25 12:00 | Revision 2020.11.25 12:06

Total number of employees and invoices, 740,000 people, 4.2687 billion won
520,000 people subject to final housing tax → 667,000 people, the tax amount is 1,814.8 billion won
Jeju housing tax increased by 244%, from 14.3 billion won last year to 49.2 billion won this year

This year, the number of people who received notification of the payment of the global property tax (variety tax) was 744,000, an increase of 149,000 or 25% from last year. The amount of the high land tax was 4.2687 billion won, an increase of 9216 billion won, or 27.5% over last year. The market has predicted this year’s final tax amount of 3.5 trillion won, which far exceeded market forecasts. Both the number of persons notified and the amount of tax notified are the largest ever recorded.

Tax levies are levied on people who own a house or land that exceeds a certain price. If you look at the amount of housing, this year’s tax is 1,814.8 billion won, a whopping 42.9% (534.5 billion won) increase over last year. The number of people who received housing tax payment notification increased by 28.3% from 520,000 last year to 667,000 this year.

The National Tax Service announced on the 25th that it has sent tax notices and communications to those who are obliged to pay the final tax for 2020. The final tax is due by December 15th, if it exceeds 2.5 million won , can be paid in installments up to 6 months. An official from the National Tax Service said: “As the final tax determined by approximately 10% decreases the amount of the public tax, the tax determined this year is expected to be approximately 380 billion won.”

This year, the number of people informed of taxation increased the most in Sejong (33.3%), Daejeon (33.3%) and Seoul (30.2%). The tax amount notified to them increased 56.7% from 6.7 billion won to 10.5 billion won in Sejong, 1335 billion won (28.6% increase) from 103.8 billion. won in Daejeon and 30.9% from 1.9951 trillion won in Seoul to 2.6107 billion won.

When you look at the housing tax alone, the number of people notified has increased by 50% from 4,000 last year to 6,000 this year in Gangwon-do. Sejong and Jeonnam rose 33.3% from 3,000 last year to 4,000 this year, 31.9% in Seoul from 298,000 to 393,000 and 27.8% from 18,000 to 23,000 in Busan.

The area with the largest increase in the amount of land tax for housing payments was Jeju, which jumped 244.1% from last year’s 14.3 billion won to 49.2 billion won this year. ‘year. Daejeon also increased 100% from 8.9 billion won to 17.8 billion won, and Sejong (2.7 billion won → 4.4 billion won 63%), Gyeongnam (67 billion won → 108.9 billion won 62.1%), Gangwon (7.4 billion won → 10.7 billion won 44.6%) and Seoul (8297 won) Also KRW 1.1886 billion, 43%) have increased significantly.

The reason the final tax has soared this year is that the government sharply raises the publicly announced price each year, in accordance with the policy of “realizing the publicly disclosed price”. Next year, the tax rates for individuals and corporations are expected to increase, the upper limit for sub-tax taxes for two homes in the area subject to adjustment will be increased from 200% to 300%, and the upper limit for the sub-tax fees for corporate housing will be abolished.

An official from the national tax service said: “Vertical tax is a tax aimed at equalizing the tax burden on real estate and the balanced development of local finances.”