Gyeonggi-do imposes 2.123 trillion won in property taxes in July... Payment due by the 31st

【Financial News Suwon=Jang Chung-sik Reporter】Gyeonggi-do announced on the 14th that it has imposed 6.9 million cases of regular property taxes in July, totaling 2.123 trillion won, on houses, buildings, and ships.
The number of cases imposed increased by 168,000 (2.51%) compared to last year, and the tax amount increased by 165.8 billion won (8.47%).
This year, following government policy, the fair market value ratio is maintained at 43% for publicly announced prices of 300 million won or less, 44% for 300 million to 600 million won, and 45% for over 600 million won to alleviate the tax burden on single homeowners.
The scale of property tax imposition by city and county showed a gap ranging from a minimum of +3.43% to a maximum of +22.82% compared to the previous year.
This is analyzed to be due to differences in regional development levels, such as the completion of large-scale apartments, new construction of knowledge industry centers, and logistics warehouses.
The area with the highest tax amount is Seongnam-si with 240.5 billion won, followed by Hwaseong-si with 189.8 billion won, and Yongin-si with 171.2 billion won. The highest property tax for individual houses was imposed on a single house located in Baekhyeon-dong, Bundang-gu, Seongnam-si, amounting to 30.42 million won.
Property tax is imposed on the owner as of the tax reference date (June 1st every year), and in July, it is imposed on houses (1/2), buildings, aircraft, and ships, while the remaining houses (1/2) and land are imposed in September.
The payment period for July property tax is from the 16th to the 31st, and it can be conveniently paid through WETAX, virtual accounts, and local tax payment accounts (electronic payment numbers).
If not paid within the deadline, a 3% late payment penalty will be imposed.
Ryu Young-yong, head of Gyeonggi-do's tax department, said, "We will strengthen guidance using various promotional means to ensure that no residents suffer disadvantages such as penalties for missing the payment deadline."

jjang@fnnews.com Jang Chung-sik Reporter