Last year, the home ownership tax exceeded 10 trillion won. Prior to the inauguration of the Moon Jae-in administration, the annual level was 3 trillion won, but it has increased by more than 7 trillion won in five years. The property tax is the sum of the general real estate tax and the property tax.
On the 21st, Senator Kim Sang-hoon of People’s Power analyzed the ‘2016-2021 housing tax (combined property tax and property tax)’ of the Ministry of Public Administration and Security, the National Tax Service, and 17 local governments. increased to 10,8756 billion won per year.
The metropolitan area (Seoul, Incheon, Gyeonggi), where regarding 70% of last year’s holding tax was lifted, increased 2.8 times compared to 2016. In Seoul, the property tax increased from 1.59 trillion won in 2016 to 4.49 trillion won last year. Gyeonggi Province was less than 1 trillion won (977.4 billion won) in 2016, but increased to 2.721.9 trillion won last year.
Looking at each tax category, the tax on property tax increased regarding 18 times from 320.8 billion won in 2016 to 5,678.9 billion won in 2021. In the case of Seoul, it showed the largest increase at 2.579.4 trillion won during the same period, and Gwangju increased regarding 61 times (5962%) from 2 billion won to 122.4 billion won.
The property tax on housing increased by 1.578 trillion won from 3.61 trillion won in 2016 to 5,196.7 billion won in 2021. Gyeonggi-do, the province with the largest increase in property tax, recorded 925 billion won in property tax in 2016, but collected an additional 628 billion won to 1.553 trillion won last year. In the case of Seoul, it was 2.45 trillion won in 2020, an increase of more than 1 trillion won compared to before the Moon Jae-in administration took office. Meanwhile, the region with the highest rate of increase was Sejong City, which nearly tripled (191%).
Rep. Kim pointed out, “As the Moon Jae-in administration ushered in the era of 10 trillion won in housing ownership tax for the past five years, the tax burden on the people increased significantly. .
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