Osan City Accepts Individual Publicly Notified Land Value Inquiries and Opinions Through 21st

[Suwon Ilbo=Reporter Suh Dong-young] Osan City has completed the calculation of individual publicly notified land values and appraiser verification for 1,484 parcels of land that underwent land transactions (division, merger, land category change, etc.) from January 2 to June 30 of this year, and is operating an inquiry and opinion submission period through the 21st.

Individual publicly notified land value inquiries are available on the city website, at the City Hall Land Information Division, and at each dong Administrative Welfare Center, and can also be checked through the 'Real Estate Public Notice Price Notifier.'

Land owners and interested parties who have opinions regarding individual publicly notified land values can submit opinion statements with appropriate value estimates at the opinion forms available at the City Hall Land Information Division and each dong Administrative Welfare Center.

The city will reconfirm land characteristics for parcels with submitted opinions and reinvestigate the balance with standard land prices. Following verification by appraisers and deliberation by the Real Estate Price Public Notice Committee, the results will be individually notified to the applicants, with final determination and public notice scheduled for October 30.

Individual publicly notified land values are used as tax base materials for local taxes including property tax, acquisition tax, and registration and license tax, as well as national taxes including transfer income tax, gift tax, inheritance tax, and comprehensive real estate tax, and are used in calculating development fees and usage fees for national and public property.

For more information, contact the City Land Information Division (031-8036-7302).