You don’t see the property tax item on the Witax website? Property tax is a higher ordinary tax and is included in larger local taxes. Then, you can check the property tax you have to pay on the Witax website, and the payment period is divided into July and September based on the house.
property tax
●What is property tax?
This is tax on apartments, buildings, various houses, ships, aircraft, etc. that I own/ Ordinary people do not own aircraft or ships, but even companies or individuals must pay taxes if they own a private plane, etc.
The base date for determining property taxes is June 1. In other words, the base date has an impact on determining the actual time to buy or sell a house. Unless you are considering selling your house and there are special circumstances, selling it before June will lead to property taxes on the building, so if you can sell it in May, there is no reason to sell it in June or July.
●Property tax inquiry
You can do this on the Witax website.
Pay Witax Local tax → Log in → Set inquiry period and enter information and search
Witax-local tax
Witax homepage
●Property tax payment period
Category Payment Period
Construction: July 16 – July 31
Housing 1st period: July 16th – July 31st Tax amount is 200,000 won or less / lump sum payment
Housing 2nd period September 16 – September 30
Ship July 16 – July 31
Aircraft July 16 – July 31
Land September 16 – September 30
In the case of a house, property tax is due twice, and if the tax amount to be paid is less than 200,000 won, payment is made in a lump sum the first time. Please note that the period is shorter compared to comprehensive income tax.
●Housing tax rate
Standard special exemption
Below 60 million won 0.1% 0.05% 30,000 won
60 to 150 million won or less 60,000 won + 0.15% of the amount exceeding 60 million won 30,000 won + 0.1% of the amount exceeding 60 million won 30,000 to 75,000 won
Below 150 million won ~ 300 million won 195 thousand won + 0.25% of exceeding 150 million won 120 thousand won + 0.2% of exceeding 150 million won 75 thousand won ~ 150 thousand won
Below 300 million won to 540 million won 570,000 won + 0.4% of the amount exceeding 300 million won 420,000 won + 0.35% of the amount exceeding 300 million won 150,000 won ~ 270,000 won
Exceeds 540 million
●Instalment payment
If you have a lot of property tax to pay, you can pay it in installments. If it exceeds 2.5 million won, you can pay it in installments within 2 months from the due date.
●Officetel
If you purchase an officetel and live in it, taxes are generally applied to the building. In other words, you will pay a lot of taxes, and in order to apply this to your home, you must submit a copy of your resident registration and a photo of your residential officetel to the tax office to prove your actual residence. Only then will it be recognized as residential.