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Starting on Wed. S. Korea raises bar for paying property tax for single home owners Updated: 2021-12-07 12:27:31 KST

Starting tomorrow, South Korea will implement changes for paying property transfer tax for single home owners.
The government finalized the decision to impose the policy starting on Wednesday.
The measure will raise the bar for tax payments to a little over 1 million dollars, removing the levy from owners of properties worth about 760-thousand U.S. dollars -- based on the market price.
The enforcement date of the bill was moved up around 20 days in order to provide the tax benefits as quickly as possible and reduce confusion in the market.
KOGL : Korea Open Government License
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