Incheon’s Namdong-gu (남동구) announced on the 13th that it has assessed and issued this year’s regular property tax bills, totaling 245,725 cases worth 56,217 million won. By taxable property type, this includes 53,669 cases of buildings worth 33,481 million won, 191,868 cases of housing worth 22,730 million won, and 188 cases of vessels worth 6 million won.
 [코리안투데이] Namdong-gu (남동구) Issues July Regular Property Tax Bills © 김현수 기자 |
Half of Housing Tax Due in July, Remainder and Land Tax in September
Property tax is levied in July and September on owners of buildings, housing, and other property as of June 1 each year.
In July, property tax is levied on housing (50%), buildings, and vessels, while in September the remaining 50% of the housing tax and the land tax are levied. However, if the annual housing tax amount is 100,000 won or less, it is levied in full in July.
 [코리안투데이] Namdong-gu (남동구) Issues July Regular Property Tax Bills © 김현수 기자 |
Fair Market Value Ratio Cut for Single-Household, Single-Home Owners Extended
The fair market value ratio for single-household, single-home owners (43% for officially assessed values of 300 million won or less, 44% for values between 300 million and 600 million won, and 45% for values above 600 million won), which was temporarily lowered in 2023 to ease the property tax burden, will continue to apply this year as well.
The reduced amount can be confirmed on the payment notice.
Convenient Payment via Wetax (위택스), Giro, and More
The payment deadline runs from July 16 to July 31, and taxpayers can check and pay their bills without a paper notice via CD/ATM machines at financial institutions nationwide, Wetax (www.wetax.go.kr), or Internet Giro (www.giro.or.kr).
Payments can also be made via the local tax ARS system (☎142-211), virtual accounts, local tax revenue accounts, or simple payment services (KakaoPay, Naver Pay, and Payco apps). For further inquiries, contact the Property Tax Team of the Tax Affairs Division 1 (세무1과) at Namdong-gu Office (남동구청) (☎032-453-2400).
[ Reporter Kim Hyun-soo ] incheoneast@thekoreantoday.com
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