▲ Kim Seong-hwan, chairman of the policy committee of the Democratic Party of Korea


The ruling and opposition parties have tentatively agreed to increase the basic deduction for comprehensive real estate tax for one household with one home and low-cost multi-housing.



At a press conference related to the budget negotiations held at the National Assembly yesterday (8th), Democratic Party Policy Committee Chairman Kim Seong-hwan proposed moving the standard for comprehensive real estate tax deduction from 1.1 billion won to 1.2 billion won per household and from 600 million won to 900 million won for low-cost multi-housing houses. He said he had agreed.



As a result, the number of people who will have to pay comprehensive real estate tax next year is expected to be around 660,000, about half of this year's 1.23 million.



The Democratic Party, however, argued that the power of the people, who had decided to maintain the heavy burden of multi-homed people, was trying to reverse this agreement.



The Democratic Party side criticized that the power of the people made an additional request to "relax the progressive system of multi-housing with 3 or more houses" and criticized it as a typical unjust party.



(Photo = Yonhap News)