The promulgation of revised laws for stabilizing the housing market, including the so-called real estate 3 Act, such as the Comprehensive Real Estate Tax Act, Corporate Tax Act, and Income Tax Act, was resolved today (11th) at the cabinet meeting presided over by President Moon Jae-in.

This concluded the follow-up legislative process for the July 10 real estate measures.

The revised Real Estate 3 Act raises the maximum tax rate for owners of 3 or more houses, but 2 houses in the area subject to adjustment, from 3.2% to 6.0%, and raises the median tax rate on the transfer tax for short-term housing for less than 2 years and housing transfer tax for multi-homed people in the area subject to adjustment. Is the main point.

A revised Local Tax Act and Local Tax Special Restriction Act promulgation was also addressed, which raised the acquisition tax rate from 3.5% to a maximum of 12% when donating houses of 300 million won or more in the adjusted area.

Among the'Lease 3 Act', the Rent Report Act (Act on Real Estate Transaction Report, etc.), which is scheduled to be implemented in June next year, has also been processed.

The right to apply for contract renewal and the monthly limit system were promulgated on the 31st of last month and are in effect.

Blue House Deputy Spokesman Yoon Jae-gwan said in a written briefing, "As the four real estate policy packages including taxation and finance, supply, and tenant protection have been completed, we will continue to promote the housing market stability and end-user protection policies."

A proposal to promulgate the revised government organization law to promote the Korea Centers for Disease Control and Prevention to the Centers for Disease Control and to introduce multiple loans from the Ministry of Health and Welfare was also resolved.

The government expects that the Korea Centers for Disease Control and Prevention can be launched in the middle of next month.

(Photo = Yonhap News)