'Surge in Property Tax' Collective Objections by Unregistered Complexes in Gangnam

Provided by a reader. As property tax notices begin to be sent out starting this July, anxiety over the tax is spreading among newly built, unregistered apartments in Seoul's Gangnam area. In the unregistered state, the property tax is determined based on the official assessed price set by the local government; however, some complexes are filing collective objections, claiming that "the criteria are unclear.
" According to industry sources on the 16th, the resident representative councils of Jamsil Raemian I-Park and Jamsil Leel, located side-by-side in the Jamsil area of ​​Songpa-gu, Seoul, recently encouraged residents to submit opinion statements regarding the 'official assessed prices for unlisted multi-unit housing. ' The 'official assessed price for unlisted housing' refers to the 'quasi-official assessed price' prepared by local governments to calculate the property tax for apartments that have been completed but have not yet been registered. Typically, local governments receive unannounced official prices through the Korea Real Estate Institute and use them as a reference to determine new official prices.
Consequently, as it became possible to check these unannounced prices by contacting the Songpa District Office about a month ago, residents launched collective action, claiming that the expected property taxes were too high. In fact, at Jamsil Raemian IPARK, which residents moved into last December, a notice was posted within the complex stating that "objections are required to adjust property taxes. " The Jamsil Raemian IPARK Residents' Representative Council explained, "Demanding a discount unconditionally does not work," adding, "You should inquire about the final assessed land value at the district office and file an objection based on a price comparison with nearby apartments such as Parkrio or Jamsil Els.
" Concerns were also raised in the online community of Jamsil Leel, which began occupancy last January, that the calculation factors for the unannounced official prices are unclear. 4 million won. " The same situation applies to Olympic Park Foreon in Gangdong-gu and Maple Xi in Seocho-gu, the largest complexes in the country.
Olympic Park Foreon, which began occupancy in November 2024, is expected to complete its registration this coming August, and owners must pay property taxes this year as well, following last year, according to standards established by the local government. In the case of Olympic Park Foreon, many owners submitted written opinions to the Gangdong-gu Office last year, but received a ruling that adjustment was "impossible.
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ming@fnnews.com Jeon Min-kyung Reporter