Youngtong-gu Conducts Comprehensive Survey of Property Tax Exemptions and Reductions

Youngtong-gu will conduct a comprehensive joint survey at the district and neighborhood levels through the end of April regarding property tax exemptions and reductions in connection with the 2012 regular property tax assessment.

In accordance with the Local Tax Law, property owners of land, buildings, and residences as of June 1 each year must pay property tax in July (one-half of residential properties and buildings) and September (one-half of residential properties and land).

Survey targets, extracted from existing tax records and data from relevant institutions, total 1,342 cases, including factory-type apartments, early childhood care facilities, corporate research institutes, startup enterprises, religious facilities, and early childhood care facilities.

Through this comprehensive survey, real estate owners will be verified via on-site inspection to determine whether facilities are used directly for their designated purposes or leased for profit, and the results will be applied to determine exemptions and reductions for the 2012 regular property tax assessment.

Starting this year, Youngtong-gu will actively promote convenient local tax payment methods as all local taxes including property tax can now be paid through ATMs at all banks nationwide without tax bills, as well as via the internet (Wetax, internet postal transfer, or online banking), at the time of the comprehensive survey.