Individual Public Land Price Survey on Land Characteristics

Youngtong-gu will conduct a land characteristics survey from January through February 24 to determine individual public land prices based on January 1.

This year's survey targets a total of 10,467 parcels of land (8,921 private parcels and 1,546 state and public parcels). The district will organize land price survey teams to collect relevant data including various permits and approvals such as construction and development permits, and changes in urban management plans, then conduct on-site land characteristics surveys.

Individual public land prices will be calculated by comparing the characteristics of individual plots of land with the characteristics of comparison standard plots, based on the standard land public prices to be determined and announced by the Minister of Land, Transport and Maritime Affairs on February 29. After verification by certified appraisers, the prices will go through a process of gathering opinions from landowners and deliberation by the Suwon City Real Estate Appraisal Committee, before being determined and announced on May 31.

The determined and announced individual public land prices will be used as the basis for determining tax assessment standards for land-related national taxes such as capital gains tax and local taxes such as property tax, as well as serving as calculation standards for development burden fees and state and public property lease fees (usage fees).