"Strengthen Tax Burden on Ultra-High-Priced Homes": Public Opinion Gathered via Comments

[Anchor]

Ahead of the real estate tax reform scheduled for the end of this month, President Lee Jae-myung asked for public opinion on whether the ownership tax burden for ultra-high-priced homes should be increased. Real-time comments were overwhelmingly in favor of an increase, with many suggesting that the threshold should be set at 3 billion won or more.

Reporter Kang Min-u has the story.

[Reporter]

During a Cabinet meeting held yesterday morning (July 14), where reports from ministries related to real estate policy were being presented.

President Lee Jae-myung noted that there is social controversy over imposing the same tax burden on so-called "high-value single homes" or ultra-high-priced houses worth over 10 billion won as on other single-home owners. He made an impromptu proposal to ask the public directly through the real-time comment feature of the live-streamed Cabinet meeting.

[President Lee Jae-myung: If you agree that 'for ultra-high-priced homes, even if it is a primary residence, it would be better to impose a differentiated, higher burden,' please press 1. If you disagree, please press 2.]

A few minutes later, the results were in.

[Lim Ki-geun, Minister for Government Policy Coordination: Most of the comments are 1. (What is the proportion?) It is around 90 percent...]

[President Lee Jae-myung: It seems there is a general consensus that the burden should be strengthened for ultra-high-priced homes, even if they are primary residences.]

The President also suggested gathering opinions on what market value should be used as the threshold for "ultra-high-priced homes." He appeared somewhat surprised by the response that many comments suggested 3 billion won as an appropriate benchmark.

[President Lee Jae-myung: That is unexpected. I thought it would be around 5 billion won. (There are also quite a few suggesting 2 billion won.) Is 2 billion won also common?]

While there are forecasts that strengthening property taxes on ultra-high-priced homes will be reviewed, President Lee stated that the claim that taxes are being imposed to control housing prices is not true.

[President Lee Jae-myung: Because taxes are not performing their basic functions, they have become a factor that triggers real estate speculation.]

He explained that the primary goal is to correct the distorted current real estate tax system, and that stabilizing housing prices is merely a secondary effect.

(Video coverage: Jung Sang-bo, Yoon Hyung | Video editing: Yoo Mi-ra)
※ Please note: This article was translated by AI and may contain errors.