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This is an illustrative calculator for Korean residential property tax (재산세), not an official tax assessment. It multiplies a user-entered publicly assessed property value by an independently verified fair-market application percentage, then applies one user-entered rate. Optional amounts for other components and confirmed relief are added or subtracted. Korea's actual property-tax liability can involve progressive brackets, property classification, local components, relief and annual rule changes that this simplified flat-rate model does not determine.
Choose a task. Inputs stay in this page only.
KRW 400 million × 0.60 = KRW 240 million; 0.25% of that is KRW 600,000. These are sample assumptions, not an official Korean tax schedule.
Relief is deducted only because it was entered as an already confirmed amount. The calculator does not determine whether relief applies.
No. It uses one rate that you provide, so an actual bill may differ materially. Verify the correct bracket schedule and supplemental local levies.
Not automatically. The publicly assessed value used for local taxation can differ from the purchase price or market valuation. Verify the relevant assessed value for the tax year.
A worked example using the listed default inputs. This is a user-supplied-rate estimate, not a current statutory determination. Input acquisition, local education, special surtax rates and deductions as applicable.
No. Check verified rates, conditions and underlying rules first. This is a user-supplied-rate estimate, not a current statutory determination. Input acquisition, local education, special surtax rates and deductions as applicable.
Illustrative default-input result. Applies user-entered official assessment, base deduction, fair-market ratio, marginal rate and progressive deduction; actual 종부세 brackets, credits and ownership conditions vary.
No. Applies user-entered official assessment, base deduction, fair-market ratio, marginal rate and progressive deduction; actual 종부세 brackets, credits and ownership conditions vary.
A worked example using the listed default inputs. Only taxable gain arithmetic with a user-confirmed percentage and deduction. It does NOT determine Korean real estate capital gains tax rates or exemptions.
No. Check verified rates, conditions and underlying rules first. Only taxable gain arithmetic with a user-confirmed percentage and deduction. It does NOT determine Korean real estate capital gains tax rates or exemptions.
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