South Korea Property Tax (재산세 + 종부세)
Calculate Korean property taxes: 재산세 (local, 0.1%–0.4%) + urban area tax + education tax, and 종합부동산세 (national) for values above ₩900M. Based on official 공시가격.
Property Details
Annual Property Tax
Come utilizzare South Korea Property Tax Calculator (재산세 + 종부세)
Enter the official assessed value (공시가격)
Enter the government-assessed price (공시가격) of your property in Korean Won, not the market value. This is the value published by the Ministry of Land, Infrastructure and Transport.
Select property type and ownership
Choose between residential (single or multiple), commercial, or land. Toggle whether this is a multi-home owner for higher 종합부동산세 rates.
Review 재산세, 종부세, and total annual tax
See the local property tax (재산세) with all additional local taxes, and if applicable, the comprehensive real estate tax (종부세) with agriculture tax. Total annual tax is the sum.
Suggerimenti
- Check your 공시가격 annually on the Realty Open Market system (부동산공시가격알리미) at realty.kab.co.kr.
- Long-term holding and senior deductions (장기보유·고령자 공제) can reduce 종부세 by up to 80% for eligible 1-home owners.
- Property tax relief is available for properties with annual tax burden exceeding 150% of the previous year's tax (세부담상한).
- Consider the overall tax burden when purchasing investment properties — rental income, transfer tax (양도소득세), and annual property taxes all contribute.
Domande frequenti
What is the difference between 재산세 and 종합부동산세?
재산세 (Property Tax) is a local tax levied by municipal governments on all properties (residential, commercial, land). 종합부동산세 (Comprehensive Real Estate Tax, 종부세) is a national tax targeting high-value real estate. 종부세 applies only when the assessed value of residential properties exceeds ₩900M (or ₩1.2B for 1-home owners).
What is the 공시가격 (official assessed value)?
공시가격 is the government-assessed market value of a property, determined annually by the Ministry of Land, Infrastructure and Transport. For apartments (아파트), it is the 공동주택공시가격. For individual houses, it is the 단독주택공시가격. Property taxes are calculated based on 60% of this value (공정시장가액비율).
When are property taxes due in Korea?
재산세 is levied twice yearly: in July (buildings, ½) and September (land + remaining ½ of buildings). 종합부동산세 is levied in November–December. Both taxes are based on ownership as of June 1 of the tax year.
What additional taxes apply beyond 재산세?
재산세 comes with additional local taxes: 도시지역분 (urban area tax, 14% of property tax), 지역자원시설세 (local resource tax, varies), and 지방교육세 (local education tax, 20% of property tax). Together these increase the effective property tax by about 34%.
How does 종합부동산세 work for multi-home owners?
종부세 rates are much higher for multi-home owners (3+ homes or homes in regulated areas): 1.2%–6% compared to 0.5%–2.7% for single-home owners. The government uses this progressive structure to discourage property speculation. There is an annual 25% tax credit for long-term single-home owners aged 60+.