An employee is sorting the tax bills at the Gangnam Post Office in Gangnam-gu, Seoul on the 23rd, when the general real estate tax bills began to be sent. news
The Democratic Party of Korea is struggling to block the aftermath of the so-called ‘comprehensive real estate tax (special property tax) bomb’. It is actively spreading the logic that △there are very few people who actually accept the tax bill, △the burden is not at the level of a bomb, and △in fact, it is a tax necessary for stabilizing the real estate market.
Song Young-gil, chairman of the Democratic Party, posted on Facebook on the 23rd, saying, “The tax on a house of 2.6 billion won is less than the tax on a mid-size car of the ‘Sonata'” and refutes the ‘deposit tax bomb theory’. He said, “More than 70% of those subject to tax on one house per household are 2.6 billion won (approved land value of 1.7 billion won), and the tax is about 500,000 won. He emphasized that the automobile tax for the Sonata 2,000cc mid-size car is 520,000 won, and “98% of the people are not eligible.”
Ho-joong Yun, the floor leader, also compared it to a ‘precision blow’ rather than an indiscriminate bombardment. He emphasized the inevitability of “the property tax is a necessary tax for resolving asset inequality and stabilizing the real estate market. Then, the power of the people and presidential candidate Yoon Seok-yeol, who advocated the abolition of the property tax, handed over the responsibility, saying that “they are putting the real estate market into chaos.”
The active response of the Democratic Party’s leadership seems to be because they judged that it is necessary to evolve the impact of the taxation system at an early stage. On the surface, they say it is insignificant by stating that there are a very small number of people to pay, but the real concern is that it might provoke the anger of real estate again. A party official said, “The fact that the real estate issue, which is considered the biggest mistake of the Moon Jae-in administration, continues to be a hot topic is itself a loss for presidential candidate Lee Jae-myung.”
Prospects are mixed as to the ripple effect the tax issue will have on the actual presidential election. Those who view the influence as low are suggested based on the fact that, in general, there are few people who are eligible to pay the estate tax and that real estate public sentiment is already reflected in the approval rate.
However, the observation that it will work against this candidate is relatively more weighted. Eom Kyung-young, head of the Institute for the Spirit of the Ages, said, “Voters who pay the estate tax will inevitably be dissatisfied that they have to pay more tax, and those who do not pay the estate tax will not be satisfied with their anxiety about the possibility of a jeon and monthly rent increase and a sense of relative deprivation.” .
Seohee Lee reporter shlee@hankookilbo.com
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