Apartment Holding Tax Reference Calculator
Estimates the annual holding tax on an apartment in Korea: the property tax base from the official price and fair market value ratio, progressive rates, plus the urban area levy and local education tax.
- Finance, tax, salary, and settlement outputs are simple estimates from your inputs. Check official rules or a professional before filing, investing, borrowing, or contracting.
Estimates the annual holding tax on an apartment in Korea: the property tax base from the official price and fair market value ratio, progressive rates, plus the urban area levy and local e…
Example Apartment Holding Tax Reference Calculator result Property tax base: 360,000,000 Property tax (progressive): 810,000 Urban area levy: 504,000 Local education tax: 162,000 Total property tax: 1,476,000 Next step: Comprehensive real estate tax applies separately to the amount above ₩1.2B for one-home households (₩900M combined for multi-home owners); for expensive homes, use the Hometax simulator.
How to use Apartment Holding Tax Reference Calculator
Korean housing property tax applies progressive rates to a tax base equal to the official housing price × the fair market value ratio. Standard rates are 0.1% up to a ₩60M base, 0.15% up to ₩150M, 0.25% up to ₩300M and 0.4% above ₩300M, and the urban area levy (0.14% of the base) and local education tax (20% of the property tax) are added.
With the default official price of ₩600M and a 60% ratio, the calculator shows a ₩360M base, ₩810,000 property tax, ₩504,000 urban area levy and ₩162,000 education tax, about ₩1,476,000 in total. Every ratio and rate field can be changed.
Single-home households have had a lower ratio of about 43–45% and special lower rates for homes with official prices of ₩900M or less, so their actual bills are much lower than the default calculation. Entering the ratio from your bill or Wetax brings the result close to reality.
- Enter the official price from the government’s official price lookup in Official housing price — not the market price.
- Tick One-home household if it applies; a note on comprehensive real estate tax appears too.
- Change the fair market value ratio and rates to the values that actually apply under Rates & ratio settings.
- Press Calculate holding tax to see the property tax, urban area levy, local education tax and total.
Useful for
- Roughly gauging the annual holding tax before buying an apartment in Korea
- Comparing how much tax rises with the ratio and rate differences when owning several homes
- Understanding how each line of a property tax bill was calculated
Limits and checks
- Housing property tax is billed half in July and half in September; if the annual tax is ₩200,000 or less, it is billed all at once in July.
- Because of the tax burden cap, tax may not rise beyond a set percentage over the previous year even if the official price jumps; the result is before the cap.
- Comprehensive real estate tax applies separately to the amount above ₩1.2B for one-home households (₩900M combined for multi-home owners); for expensive homes, use the Hometax simulator.
Worked example
Example input: Official price ₩600M with default settings
Official housing price: ₩600,000,000 Fair market value ratio: 60% Urban area levy: 0.14% / Local education tax: 20%
The price is below the ₩1.2B one-home deduction, so comprehensive real estate tax generally doesn’t apply.
Result
Property tax base: 360,000,000 Property tax (progressive): 810,000 Urban area levy: 504,000 Local education tax: 162,000 Total property tax: 1,476,000
The price is below the ₩1.2B one-home deduction, so comprehensive real estate tax generally doesn’t apply.
Common issues
Entering the market price as the official price.
Holding tax is based on the official price, which is usually below market price. Use the value from the government’s official price lookup.
As a one-home owner, the result is far above my bill.
The defaults are the general 60% ratio and standard rates. Applying the one-home ratio and special rates lowers the tax a lot, so enter the base or ratio shown on your bill.
How to interpret the result
Estimates the annual holding tax on an apartment in Korea: the property tax base from the official price and fair market value ratio, progressive rates, plus the urban area levy and local education tax.
Related workflow
Comprehensive real estate tax applies separately to the amount above ₩1.2B for one-home households (₩900M combined for multi-home owners); for expensive homes, use the Hometax simulator.
Privacy and review notes
ToolBada runs this tool in your browser where it can. Use sample values instead of personal or confidential data, and review the result before relying on it.
Basis and limitations
Basis
- The tool applies user-entered amounts, periods, rates, and selected conditions to the calculation described on the page.
- The displayed result is a reference estimate based on that tool's formula and stated input assumptions.
Limitations
- Actual tax rules, deductions, exchange rates, fees, institution policies, and market prices can change by date and personal case.
- Do not use the output as the final basis for filing, investing, borrowing, contracting, salary negotiation, or legal commitments.
Official check
- Before filing or making financial decisions, verify with official agencies, financial institutions, exchanges, or qualified experts.
References and methodology
- Official external source: Korea National Tax Service — The official source for Korean national-tax rates, filing schedules, deductions, and calculators.
- Official external source: FSS Financial Consumer Information Portal — The Financial Supervisory Service portal for final checks on financial products and transactions.
Review scope: We automatically check that the calculation basis and official source links are shown. No licensed medical, legal, or tax professional has reviewed this result individually, so confirm with the responsible agency or a professional before an important decision.
FAQ
When is property tax paid?
It is charged to the owner on June 1 each year; housing tax is paid half in July and half in September. If you sold before June 1, the buyer pays that year’s tax.
What is the urban area levy?
A part of property tax charged on property inside urban planning areas, 0.14% of the tax base. Set it to 0 if the property isn’t in an urban area.
Does it calculate comprehensive real estate tax?
It calculates property tax and only notes whether comprehensive real estate tax may apply based on the one-home deduction; check the actual amount on Hometax.