About This Calculator Automatically calculates property tax on houses, land, and buildings. Computes accurate property tax based on the official assessed price.
Total Tax
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Assessed Price
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Taxable Base
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Applied Rate
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Property Tax
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Local Education Tax
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This calculator is based on South Korean tax law
GUIDE
Learn more
01
Property Tax Info
[House Tax Rates]
β’ Up to 60M KRW: 0.1%
β’ 60Mβ150M KRW: 0.15%
β’ 150Mβ300M KRW: 0.25%
β’ Over 300M KRW: 0.4%
β’ Multiple homes: surcharge (2 homes +0.1%, 3+ homes +0.2%)
[Land Tax Rates]
β’ Aggregate land: 0.2%β0.5% (progressive)
β’ Separate-aggregate land: 0.2%β0.4% (progressive)
β’ Separately-taxed land: 0.2%β0.4%
[Building Tax Rates]
β’ General buildings: 0.25%
β’ Golf courses / luxury entertainment: 4%
[Local Education Tax]
β’ House: 20% of property tax
β’ Land/Building: 20% of property tax
[Payment Schedule]
β’ July: 50% of house tax (Jul 16β31)
β’ September: remaining 50% + land/building (Sep 16β30)
β’ Property tax β€ 200K KRW: lump-sum in July
02
What is Property Tax?
Property tax is a local tax imposed on owners of real estate (houses, land, buildings). The owner as of June 1 each year is the taxpayer, with payment split across July and September. The tax base is the official assessed price multiplied by the fair-market-value ratio (60%), to which the tax rate is applied. House property tax uses a progressive 0.1%β0.4% rate, with surcharges for multiple-home owners (2 homes +0.1%, 3+ homes +0.2%).
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How to Calculate House Property Tax
House property tax applies a 4-tier progressive rate to the taxable base: 0.1% up to 60M KRW, 0.15% for 60Mβ150M, 0.25% for 150Mβ300M, and 0.4% above 300M. For a home assessed at 600M KRW (taxable base 360M), the total property tax is 810,000 KRW; adding 20% local education tax (162,000 KRW) gives 972,000 KRW. Multiple-home owners face higher surcharges.
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How to Reduce Property Tax
The most effective way to reduce property tax is keeping to one house per household to avoid multiple-home surcharges. One-house households assessed at 900M KRW or less are also exempt from the comprehensive real estate tax. You may also appeal an excessive assessed price (the application period is each April), and joint marital ownership lets each spouse claim a basic deduction.
Frequently asked questions
Who pays property tax?
The person who owns the house, land, or building as of June 1 each year is the taxpayer. Payment is split between July and September.
How is the taxable base determined?
The taxable base is the official assessed price multiplied by the 60% fair-market-value ratio. For a home assessed at 600M KRW, the taxable base is 360M KRW.