Property Tax Calculator

Property Tax Calculator helps estimate Korea-related property, housing, or local tax pressure from assessed values and thresholds.

Property tax inputs

Total payable

₩1,428,000

Fair-market ratio 60.0%.

Main property tax

₩735,000

Applied rate 0.4%.

Urban and education tax

₩693,000

Urban-area tax plus local education tax.

Payment schedule

₩714,000 / ₩714,000

July and September split where applicable.

Calculates annual Korean local property tax with the same fair-market ratios, housing special rate, building and land rates, urban-area tax, local education tax, tax cap, and July/September payment split as the Korean page. This English calculator calls the same pure tax calculation function used by the Korean page. Inputs and labels are translated; the formula is not replaced by a generic value-times-rate stub.

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Property tax calculator

This page translates the Korean local property tax guide for housing, buildings, and land, preserving fair-market ratios, progressive brackets, special one-house rates, urban-area tax, local education tax, tax cap, and payment timing.

Housing, building, and land bases

Housing uses a 60 percent fair-market ratio, while buildings and land use 70 percent in the Korean calculation. Housing tax then uses progressive brackets, and the one-household one-house special rate can apply when the publicly assessed value is KRW 900 million or less.

The special housing rates are lower than the standard rates: 0.05 percent to 0.35 percent instead of the ordinary 0.1 percent to 0.4 percent structure. Buildings and land use their own rate tables, including separate rates for luxury golf-course property and farmland-type land.

Surtaxes and tax cap

Urban-area tax is 0.14 percent of the tax base when the property is in an urban area. Local education tax is 20 percent of the main property tax, so it changes when the tax cap or special housing rate changes the main tax.

The housing tax cap compares the current calculation with the prior-year tax. That is why the calculator asks for prior-year property tax rather than simply multiplying assessed value by the current rate.

Payment schedule

Housing property tax is normally split between July and September, but small main-tax amounts can be paid fully in July. Buildings are shown as July payments, while land is shown as September payments.

Use this calculator when checking the impact of a public-price increase, moving from single-house to multi-house status, or reclassifying land. The public assessment notice remains the authoritative source for the final bill.