The second payment of property taxes will be made in September 2023. Property tax is a local tax levied by local governments on houses, land, and buildings.
Since there is no fee for local taxes paid by card, it is advantageous to pay by card.
2023 property tax card benefits
2023 property tax card benefits
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Property tax imposition date
Property tax is levied as of June 1 each year. The amount calculated on the 6th and 1st is charged in July and September of that year.
If the property tax payment amount is less than 200,000 won, the full amount must be paid in July. If the amount is more than 200,000 won, the property tax is billed in July and September, divided into the first and second property taxes, respectively.
How to Calculate Property Tax
Property taxes are calculated by multiplying the advertised value by 60% of the fair market value multiplied by the tax rate. The tax rate applies to the publicly announced land price of apartment complexes.
How to view
Since property tax is a local tax, you should check it through Witax, not Hometax, which is what you usually think of when thinking about taxes.
Go to Witax property tax inquiry >>
1. Witax connection
2. Pay > Local taxes
3. Login (Choose 1 from simple authentication, joint authentication, financial certificate, SMS authentication, digital one pass, or QR code)
4. Pay using electronic payment number
* Electronic payment number confirmation is available from September 16th.
2nd term property tax payment period
The second payment period is available from September 16th to October 4th. The existing payment period was from September 16th to September 30th, but since the Chuseok holiday falls at the end of September, it has been extended to October 4th.
You will receive your payment notice online electronically or by mail.
The 2nd period notice can be checked at Witax, and the local government will send it by mail according to the payment period.
Property tax payment period
· 1 Mood: July 16 to July 31 every year
· 2 Mood: September 16 to September 30 every year (September 16 to October 4 in 2023)
Penalty tax imposed in case of non-payment or omission
If you fail to pay local taxes within the payment period, an additional tax of 3% will be imposed. Also, the 45% additional tax will continue to be imposed for up to 60 months, so even if you miss the payment deadline, please process it as soon as possible.
Property tax card benefits
Property tax is a local tax and the fee is exempt when paying by card. Therefore, we recommend that you compare card information that offers at least some benefits before paying.
1. KB Kookmin Card
Accumulate 1,500 KB Pay points for paying taxes in Seoul
3,500 points per person for both 1st and 2nd payments
500 points paid when applying for electronic delivery
Go to KB Kookmin Card >>
2. Woori Card
3 months interest free service
This is an information benefit that would be embarrassing to include in the CARD benefit.
3. Shinhan Check Card
0.17% cashback of payment amount
4. Hyundai Card
2 to 3 months interest-free service when paying tax over 50,000 won
5. Lotte Card
Receive 2 cups of coffee coupon when applying for event after paying 500,000 won or more0
Lotte Card benefits are not bad, but it is rare for property taxes to exceed 500,000 won.
Excluding Kookmin Card and Lotte Card, the benefits are weaker than expected, so if you are using the KB Kookmin Card, it seems most advantageous to use the corresponding CARD benefits.
So far, we have summarized the property tax inquiry method, payment period, and card benefits for September 2023. Since this is a tax subject to additional tax, please make sure to pay it within the period.