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Full Sum to Be Collected in Comprehensive Real Estate Tax More than Doubles

Written: 2021-11-24 13:54:52Updated: 2021-11-24 14:23:42

Full Sum to Be Collected in Comprehensive Real Estate Tax More than Doubles

Photo : YONHAP News

The government is set to collect eight-point-57 trillion won in comprehensive real estate tax this year, more than doubling from the sum last year.

According to the National Tax Service(NTS) on Wednesday, taxes imposed this year increased by four-point-three trillion won from a year earlier.

The number of people subject to the expanded tax stood at one-point-03 million, up 38 percent on-year and marking the first time the figure surpassed one million. 

Nine-hundred-47-thousand were levied five-point-68 trillion won for housing, with the surge attributed to soaring property prices and the government raising the state-assessed price value of properties.

Seventy-nine-thousand-600 people were imposed taxes for land ownership totaling two-point-89 trillion won.

Payment must be completed by December 15. Those levied more than two-point-five million won can pay in six-month installments, while those surpassing five million won can pay half of the amount through installments.

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