Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance today (3rd) announced that "the government will announce it at around 4 pm today" on the plan to reduce the property tax for mid- and low-priced housing.
Deputy Prime Minister Hong said today at the National Assembly Planning and Finance Committee, when the Democratic Party lawmaker Jung Il-young inquired about the plan to cut property tax, "there was a discussion at the meeting of the high-ranking party administration yesterday and the policy was already decided."
He explained, "As the public announcement presents a roadmap for realization, the public announcement price itself has been raised, and the property tax has risen slightly as housing prices have recently risen, so the government has been reviewing to reduce the property tax for mid- to low-priced housing." .
Earlier, the party government has been fighting a tug of war based on the standard of lowering the property tax for mid- to low-priced one-homeowners.
The Democratic Party demanded that the property tax be cut to houses under 900 million won, and the government has been confronted with adhering to the standards for housing under 600 million won.
(Photo = Yonhap News)