skip to main contents skip to main menu

National Assembly Legislation

  • Home
  • Legislative Information
  • National Assembly Legislation
  • Gross Real Estate Tax Act
    • Competent Ministry : Ministry of Economy and Finance
    • Advance Publication of Legislation : 2021-04-20
    • Opinion Submission Deadline : 2021-05-04
Reasons for Proposal

The current Act applies differentiated gross real estate tax rates depending on whether the taxpayer owns two or fewer houses, three or more houses, or two houses in the area subject to adjustment.

However, even in cases where a person becomes a temporary multiple house owner, such as a household that owns one house and acquires a new house before transferring the house or has two houses due to inheritance or marriage, excessive taxes may be imposed because there are no special cases such as non-taxable capital gains in calculating the tax base and applying the tax rate for comprehensive real estate tax.

Therefore, the amendment aims to exclude temporarily owned houses from the calculation of the tax base of the comprehensive real estate tax for a household that temporarily owns two or more houses and then impose a comprehensive real estate tax and equivalent interest on the houses if the household does not dispose of the temporarily owned houses within two years (Article 8-2, newly inserted).


Major Provisions

Article 8-2

Go to the Bill