It was confirmed that the government is pursuing a plan to lower the property tax rate on low to mid-priced housing.

Minister of Land, Infrastructure and Transport, Kim Hyun-mi, today (29th) at the National Assembly's Homeland Transportation Committee, Minister of Commerce and Industry, Kim Sang-hoon, pointed out that property taxes are also being imposed on low- and mid-priced homes. Revealed.

"The property tax is inevitably proportional to the value of the asset, and if the publicized price is realized, even those who own mid- and low-priced homes can raise the tax," said Kim. To be announced."

He added, "In October, lowering the property tax rate for mid- and low-priced homes will significantly reduce the burden on the public."

"I am very sorry that the people are worried because the price has risen," said Minister Kim about raising the property tax.

He said, "The property tax is taxed in proportion to the real value. Therefore, when the price of real estate rises, it has to be reflected." Realizing the public price was an old task that must be done for fairness in taxation.

The Ministry of Land, Infrastructure and Transport is planning to release a roadmap for real estate prices, which sets targets for the mid-to-long-term realization rate of published prices for each type of property, such as standard housing and multi-unit housing.

The Ministry of Land, Infrastructure and Transport has been setting differentiated realization rate targets for each real estate type and price range, and has raised the publicly announced price, but ultimately has been considering ways to present a single realization rate target regardless of the real estate price range.

As the government has already announced the July 10 measures, it has said that it can review the low and mid-priced housing property tax in line with the October roadmap announcement.

It seems that the government is considering measures to lower the property tax rate on mid-to-low-priced real estate, as it is pointed out that the tax burden on mid-to-low-priced real estate as well as high-priced real estate, which has been the target of the policy, has increased as the public price has risen overall.

An official from the Ministry of Public Administration and Security said, "If the publicly announced road price roadmap for October is published, the price of mid-to-low-priced real estate will have to rise to a certain level. If this causes the property tax of the poor to rise, it will be adjusted by lowering the property tax rate."

As a result of analyzing data obtained by lawmakers Sang-Hoon Kim from the Seoul Metropolitan Government and the Ministry of Land, Infrastructure and Transport, households with a 30% increase in property taxes in Seoul increased significantly from 4,541 households in 2017 to 57,294 households this year.

(Photo = Yonhap News)