How Will Tax Burdens Change... What Are the Exceptions for Non-Residents?

[Anchor]

With the latest comprehensive real estate holding tax (Jeongbusee) reform, taxes may decrease or significantly increase compared to now depending on the value of the home. In particular, the differences depending on whether the owner resides in the property have become so large that calculations have grown more complicated. For a non-resident housing property valued in the 2 billion won range, the tax can jump by as much as fourfold.

Reporter Jeon Hyeong-u breaks it down.

[Reporter]

Even for single-home owners, the comprehensive real estate holding tax varies completely depending on whether they live in the home or not.

Let us first look at a single home used for residency.

Assuming a 60-year-old person who has lived in the home for 10 years, the comprehensive real estate tax deduction rate remains at 60%, just like now.

If the market value of the house is between 2 billion won and 3 billion won, the comprehensive real estate tax will actually decrease compared to now. For the bracket between 3 billion won and 3 billion to 4 billion won, it will increase by several hundred thousand won.

For ultra-expensive apartments worth over 4 billion won, the comprehensive real estate tax jumps significantly.

The government described this bracket as the realization of "tax normalization."

If it is an apartment in Banpo worth 5 billion won, the owner will have to pay about 1.6 million won more in comprehensive real estate tax next year, and about 5.24 million won more the year after that.

For an apartment in Apgujeong worth 7 billion won, the comprehensive real estate tax will increase by about 13 million won next year and about 23 million won the year after next.

A single home without residency is entirely different.

Though the owner is likewise 60 years old, if the 10 years were spent on ownership rather than residency, the deduction rate will be applied at only 40% next year and 20% the year after next.

Even if one has owned the property for a long time, deductions will no longer be granted without residency.

Because of this, non-resident properties starting from apartments with a market value in the 2 billion won range—where the comprehensive real estate tax applies—will all see tax increases.

Based on 2028, a 2 billion won apartment will increase by about 1.24 million won, a 3 billion won apartment by about 3.33 million won, and a 4 billion won apartment by about 8.51 million won, causing taxes to jump by millions of won compared to resident apartments.

While the period of residency is crucial, exception clauses have also been established to account for unavoidable circumstances making non-residency inevitable.

If unavoidable reasons are recognized—such as moving to another region to attend school or changing jobs after residing in the home for more than a year—up to three years will be recognized as a residency period.

If a resident moves into a new home following redevelopment or reconstruction, half of the construction period for the maintenance project will be recognized as the residency period.

(Video Editing: Choi Hye-ran, Design: Kim Ye-ji)
※ Please note: This article was translated by AI and may contain errors.