Seongnam City to Implement Temporary Property Tax Relief for Single-Home Owners

Seongnam City announced that it will implement temporary property tax relief for single-home owners by amending ordinances, marking the first policy pledge of the ninth popular election administration to be enacted.

To alleviate the increased tax burden caused by high oil prices, high exchange rates, high prices, and rising official housing prices, the city plans to temporarily reduce property tax assessments for actual residents who own a single house as of June 1, 2026.

Homes with a standard taxable value of 900 million won or less will receive a 50% reduction from the standard tax rate, those exceeding 900 million won but not exceeding 1.2 billion won will receive a 20% reduction, and those exceeding 1.2 billion won will receive a 10% reduction respectively. However, taxpayers subject to the same special tax rate and reduction rate or the tax burden ceiling system are excluded from eligibility.

The scale of the relief amounts to a total of 16.9 billion won, including 14.1 billion won in property tax and 2.8 billion won in local education tax. The city has completed legislative notice of the ordinance amendment and plans to submit the agenda to the city council in October. It plans to send notices to eligible recipients in November and complete the distribution of refunds by December.