Gangnam-gu holds real estate tax briefings for 1,000 residents

Gangnam-gu recently held three real estate tax briefing sessions in September, drawing approximately 1,000 residents. The sessions aimed to explain government real estate tax reforms, including changes to the comprehensive real estate tax and capital gains tax, using practical examples.

During the briefings, residents expressed significant interest in tax burdens for long-term homeowners, special deductions for long-term holdings, and protections for elderly single-homeowners. A survey of 468 participants revealed that 77% were aged 50 or older. The most prominent demand, accounting for 48% of responses, was the establishment of transitional provisions for existing long-term owners to ensure their holding periods are recognized during policy shifts.

Other resident requests included raising or abolishing the 1 billion won deduction limit for long-term residents and refining requirements for deferring comprehensive real estate tax payments for elderly homeowners. Gangnam-gu officials stated they will compile these additional opinions to relay to relevant government agencies and are considering making these tax briefings a regular occurrence.