Seongnam Mayor Shin Sang-jin stated on August 24 that he will focus on implementing policies that create "tangible changes" for citizens, particularly in relation to property tax relief.
On this day, Mayor Shin announced the launch of the "temporary property tax relief for one-household, one-homeowners" as the first ordinance amendment project of his administration, aimed at easing the tax burden on citizens.
With rising fuel prices, high exchange rates, and inflation, coupled with increasing housing appraisal values, Mayor Shin introduced this policy to alleviate the financial strain on actual homeowners.
The initiative primarily aims to temporarily reduce property taxes for the 2026 assessment year.
Mayor Shin emphasized that the policy focuses on reducing the burden for homeowners who possess a single residence amid economic difficulties.
The relief applies to taxpayers who owned one home as of June 1, 2026, and includes property taxes excluding urban area taxes and local education taxes.
To ensure fairness, the mayor has proposed a tiered reduction rate based on housing prices: homes valued at 900 million won or less will receive a 50% reduction, those valued between 900 million won and 1.2 billion won will receive a 20% reduction, and homes valued over 1.2 billion won will receive a 10% reduction.
The total expected relief amount is 16.9 billion won, which includes 14.1 billion won in property taxes and 2.8 billion won in local education taxes.
This policy aligns with the direction of Mayor Shin's administration, which prioritizes reducing citizens' living burdens over securing revenue.
Additionally, the process has been streamlined to minimize complex application procedures, allowing for automatic tax reductions and refunds to enhance citizen convenience.
Reactions from citizens regarding the property tax relief have been positive.
A resident from Bundang District, who owns one home, remarked, "With rising prices and increased living costs, property taxes have become a burden. Any reduction in taxes would be a real help, and I hope the city continues to implement policies that citizens can truly feel."
Another citizen noted, "It's commendable that the benefits are directed toward those who actually live in their homes rather than those with multiple properties. I hope this policy carefully considers the burdens on citizens during these challenging times."
To facilitate this initiative, Mayor Shin prepared the "Partial Amendment to the Seongnam City Tax Ordinance" and conducted a legislative notice period from July 23 to August 12. The ordinance amendment will be presented to the Seongnam City Council for review in October.
Once the amendment is finalized, the local tax system will incorporate the relief features, applying the reduced tax rates uniformly to eligible taxpayers. Notifications will be sent to refund recipients in November, with payments expected to be distributed by December.
Citizens eligible for refunds can expedite the process by registering their refund accounts on the WETAX website, allowing for quicker payments without additional applications.
However, taxpayers who are subject to special tax rates or burden limits will be excluded from this relief.
Mayor Shin Sang-jin emphasized, "This initiative is the first ordinance amendment project of the 9th elected term, and I expect it will help alleviate the tax burden for one-household, one-homeowners facing difficulties due to high prices and rising housing costs."
* This article has been translated by AI.
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