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As the official public price of standard housing and the official land price of standard land fell this year, the holding tax in the housing and land sectors is also expected to fall compared to last year.

In particular, in the case of housing, it is expected that the tax burden will be significantly reduced below the 2020 level due to the addition of the revised comprehensive real estate tax revised at the end of last year to this year's public price cut.

The Ministry of Land, Infrastructure and Transport today (25th) reduced the official price of standard housing this year by 5.95% nationwide and 8.55% in Seoul from last year.

The officially announced land price for standard land was 5.92% lower than last year, and 5.86% lower in Seoul.

Here, the comprehensive real estate tax will be drastically reduced from this year.

At the end of last year, the government raised the number of people subject to comprehensive real estate tax per household from 1.1 billion won to 1.2 billion won, and raised the basic deduction from 600 million won to 900 million won.

In addition, the heavy tax rate (1.2-6.0%) of comprehensive real estate tax for two-householders was abolished, and the general tax rate was also lowered from 0.6-3.0% to 0.5-2.7%.

Woo Byeong-tak, team leader of Shinhan Bank's WM Business Department, calculated the tax burden for this year with the revised holding tax rate.

This is largely higher than the holding tax in 2019, but lower than in 2020.

In a detached house in Bangbae-dong, Seocho-gu, the official price fell 10.45% from 2.133 billion won last year to 1.919 billion won this year, and the property tax combined with comprehensive real estate tax and property tax increased from 7.839 million won last year to 5.998 million this year. It is down 23.5% to 1,000 won.

It is higher than the holding tax of 4.08 million won in 2019 and lower than 7.33 million won in 2020.

In addition, the official price of multi-family housing in Seongsu-dong, Seongdong-gu fell 10.7% from 1.42 billion won last year to 1.242 billion won this year, and the ownership tax is expected to drop 22% from 3.92 million won last year to 3.06 million won this year.

It is also higher than the holding tax of 2.8 million won in 2019 and lower than the 3.44 million won in 2020.

The Ministry of Public Administration and Security plans to determine whether to lower the fair market value ratio of property tax this year to the level of last year (45%) or less after looking at the extent of reduction in the public housing price announced in March, so there is a possibility of further reduction in the holding tax.

However, as this year's holding tax is expected to fall below 2020, when the official price has already soared, experts believe that there is a possibility that the fair market value ratio may be frozen at last year's level, even if it does not originally rise to 60%.

The official price of standard land also fell by more than 5% on average this year, reducing the burden of ownership tax in the land sector.

The official land price of Nature Republic site, Chungmuro ​​1-ga, Seoul, which is ranked first in publicly announced land price, is 29.475 billion won (170.41 million per square meter) this year, up from 31.9977 billion won last year (189 million won per ㎡). won), down 7.87%.

As a result, the holding tax this year is expected to be 197.608 million won, which is 16.5% lower than last year (236.68 million won).

Experts predict that the holding tax will fall below 2020 as the public price of multi-unit housing, which will be reviewed from March 17 this year, is also expected to drop by double digits.

In particular, it is expected that the reduction in tax burden will be relatively large for owners of two houses, which are exempt from heavy taxation.