COMPREHENSIVE REAL ESTATE HOLDING TAX
1. Taxable objects 
Residential houses and land (except villa)
* Under the Comprehensive real estate holding tax, residential house 
includes land to which the house belongs
2. Taxpayer
a. Residential house: a taxpayer who is liable to property tax on residential house and
whose aggregate tax base for property tax exceeds 450 million won. 
b. Land : a taxpayer who is liable to property tax on land 
(1) Land subject to comprehensive aggregation tax (vacant land etc): 
a taxpayer whose tax base for property tax on land exceeds 300 million won. 
(2) Land subject to separate aggregation tax (land attached to store, office, buildings
etc): a taxpayer whose tax base for property tax  on land exceeds 2 billion won.
* Land subject to separate taxation: excluded from comprehensive real estate
holding tax.
(3) Farmland (dry field, rice paddies, orchard), forests, pasture lots, factory sites
within the standard area. 
(4) Land for golf courses and luxury amusement etc.
3. Tax base 
a. Residential houses whose aggregation of tax base held by one taxpayer across the
nation is over 450 million won
* Tax base for property tax: 50% of residential house price (price for residential
houses disclosed by NTS or Construction Ministry) 
 b. Land
(1) Land subject to comprehensive aggregation tax: 
aggregation of tax base for property tax -300 million won 
(2) Land subject to separate aggregation tax: 
aggregation of tax base for property tax - 2 billion won 
   * Tax base: 50 % of disclosed price 
4. Tax rate 
a. Residential house 
Tax base ¡¡ ¡¡ ¡¡ Tax rate
Over  ¡¡ Not more than  %
450 million won 1,000 million won  1.0
1,000 million won 5,000 million won  2.0
5,000 million won  ¡¡ ¡¡ 3.0
b. Land
(1) Land subject to Comprehensive aggregation tax rates 
Tax base ¡¡ ¡¡ ¡¡ Tax rate
Over  ¡¡ Not more than  %
300 million won 1,000 million won  1.0
1,000 million won 5,000 million won  2.0
5,000 million won  ¡¡ ¡¡ 4.0
(2) Land subject to Separate aggregation tax rate 
Tax base ¡¡ ¡¡ ¡¡ Tax rate
Over  ¡¡ Not more than  %
2 billion won ¡¡ 10 billion won  0.6
10 billion won  50 billion won  1.0
50 billion won  ¡¡ ¡¡ 1.6
5. Credit 
100 % tax credit is provided for property tax paid first as local tax subject to
comprehensive real estate holding tax.
6. Date of assessment : June 1 
7. Non taxation & Exemption/Reduction 
a. Subject to tax exemption, reduction on property tax under the Local Tax Code, Special
Treatment Control Law and rules by city and county (except parts of exemption,
reduction under the rules by city and county)
b. Leased house, a company house for employees, unsold houses of housing
construction business, which meet a certain standard are excluded from
comprehensive taxation on residential house. 
8. Ceiling on the increase in tax liability 
An amount exceeding 150% of previous year's tax liability is exempt. 
9. Assessment and collection 
A taxable person is required to file a return and pay tax during the period of
December.1st to 15st. 
10.  Transfer of collected tax 
 Transfer all the tax collected to local governments.