Korea Property Tax Calculator (Housing)
Estimate Korea's housing property tax — base tax, urban-area levy, local education tax and total — from the official price.
How housing property tax is worked out
- Property tax is owed by whoever owns the home on June 1 (the tax base date) (Local Tax Act Arts. 107 and 114). The value is the official housing price, and the tax is billed in two halves, in July and in September (Art. 115).
- Official price × fair market value ratio = taxable base. For housing the ratio is 60%. For tax year 2026, however, a one-household-one-home owner uses 43–45% depending on the official price (Enforcement Decree Art. 109(1)(ii)). The lowered ratio also applies to a one-home household whose price is above ₩900 million.
- The base tax is the taxable base run through the rate table below (Art. 111). A one-household-one-home owner whose standard value is ₩900 million or less gets lower special rates (Art. 111-2).
- The base tax is topped up with the urban-area levy (0.14% of the taxable base, only in urban areas that the local government has designated, Art. 112) and the local education tax (20% of the base tax, not counting the urban-area levy, Art. 151) to give the total on the bill.
Fair market value ratio — tax year 2026
The lowered ratio for one household one home is set only for property tax whose liability arises in tax year 2026 (Enforcement Decree Art. 109(1)(ii) proviso).
| Case | Official price | Ratio |
|---|---|---|
| Regular housing (several homes, etc.) | All prices | 60% |
| One household, one home | ₩300,000,000 or less | 43% |
| Over ₩300,000,000 up to ₩600,000,000 | 44% | |
| Over ₩600,000,000 | 45% |
Housing property tax rates
The rate for each band of the taxable base is below. The first band is just the rate times the base; the others are "fixed amount + the part above the band start × rate".
| Taxable base | Standard rate | One household one home (standard value ₩900 million or less) |
|---|---|---|
| ₩60,000,000 or less | 0.1% | 0.05% |
| Over ₩60,000,000 up to ₩150,000,000 | ₩60,000 + the part over ₩60,000,000 × 0.15% | ₩30,000 + the part over ₩60,000,000 × 0.1% |
| Over ₩150,000,000 up to ₩300,000,000 | ₩195,000 + the part over ₩150,000,000 × 0.25% | ₩120,000 + the part over ₩150,000,000 × 0.2% |
| Over ₩300,000,000 | ₩570,000 + the part over ₩300,000,000 × 0.4% | ₩420,000 + the part over ₩300,000,000 × 0.35% |
The special rates cover only liability that arises by 28 December 2026 (Local Tax Act Art. 111-2 and its addenda). A local government may raise or lower the standard rates by up to 50% by ordinance (Art. 111(3)).
If the price jumped — the taxable-base cap
A home's taxable base cannot exceed last year's official price × this year's fair market value ratio, plus 5% of this year's taxable base (the cap) (Local Tax Act Art. 110(3), Enforcement Decree Art. 109-2). The old cap on the tax amount itself was abolished for housing in the 2023 amendment and replaced by this one.
It only matters for a home whose official price rose by more than about 5.3% over last year. If there is no price for last year (a new building, for example), this year's price is used and the cap does not apply. This calculator applies the cap only when you fill in last year's official price above.
| Last year's official price | This year's official price | Taxable base without the cap | Taxable base with the cap | Total tax (urban-area levy included) |
|---|---|---|---|---|
| ₩400,000,000 | ₩600,000,000 | ₩264,000,000 | ₩189,200,000 | ₩502,960 |
| ₩500,000,000 | ₩600,000,000 | ₩264,000,000 | ₩233,200,000 | ₩670,160 |
| ₩570,000,000 | ₩600,000,000 | ₩264,000,000 | ₩264,000,000 | ₩787,200 |
The table is for a one-household-one-home owner whose price this year is ₩600,000,000 (fair market value ratio 44% this year). If last year's price was ₩570,000,000 or more, the cap does not bite.
Examples by official price — urban-area levy included
| Official price | Total, regular housing | Total, one household one home |
|---|---|---|
| ₩300,000,000 | ₩576,000 | ₩299,400 |
| ₩500,000,000 | ₩1,104,000 | ₩620,000 |
| ₩700,000,000 | ₩1,848,000 | ₩1,008,000 |
| ₩900,000,000 | ₩2,592,000 | ₩1,512,000 |
| ₩1,200,000,000 | ₩3,708,000 | ₩2,592,000 |
The table is computed with the same function as the calculator on this page, for tax year 2026 (base tax + urban-area levy + local education tax, no cap against last year). A one-home household above ₩900 million uses the lowered fair market value ratio but not the special rates.
When and how it is paid
- Housing property tax is paid half on 16–31 July and half on 16–30 September. If the tax to be billed is ₩200,000 or less, the local ordinance may bill it all in July (Art. 115).
- If the property tax (base tax + urban-area levy) is over ₩2.5 million, you can pay part of it in installments within 3 months after the due date. If the tax is ₩5 million or less, the part above ₩2.5 million can be deferred; above ₩5 million, up to 50% of the tax (Art. 118, Enforcement Decree Art. 116). You must apply by the due date.
What this calculation does not see
- The regional resource and facilities tax for fire services is billed separately. It is not in this calculation.
- Tax credits for automatic bank transfer or electronic billing, and reductions under the Restriction of Local Tax Special Cases Act, are not included. If a reduction overlaps the one-home special rates, only the one with the larger effect applies (Local Tax Act Art. 111-2(4)).
- A local government can change the property tax rates (within 50% of the standard rates) or the urban-area rate (up to 0.23%) by ordinance. This calculation uses the standard rates and 0.14%.
- Whether you count as one household one home is for you to judge. The basic case is a household — family members on the same household resident record on the base date, not counting cohabitants — that owns just one home in Korea, and there are many exceptions (Enforcement Decree Art. 110-2).
- Property tax on shops, land and other non-housing property is not calculated. The official price to enter is the combined price of the building and the land of the home.
- If you are a foreign national or are not on a Korean household resident record, ask the district office whether the one-household-one-home treatment applies to you — this calculator takes your choice as given.
Basis: National Law Information Center — Local Tax Act Arts. 107, 110, 111, 111-2, 112, 114, 115, 118 and 151 (in force 2026-01-01) and its Enforcement Decree Arts. 109, 109-2, 110-2 and 116 (in force 2026-10-01), checked October 2026; Ministry of Government Legislation enactment/amendment reasons (taxable-base cap introduced, tax-amount cap abolished for housing). This is an estimate; the district office decides the actual bill. Each tax is rounded down to the nearest ₩10, so the bill may differ by a few tens of won.
Frequently asked questions
When is property tax due, and can I pay in installments?
Housing property tax is paid half on 16–31 July and half on 16–30 September. If the tax to be billed is ₩200,000 or less it can be billed all in July. If the property tax (base tax + urban-area levy) is over ₩2.5 million, you can pay part of it in installments within 3 months after the due date, but you must apply by the due date.
Who gets the one-household-one-home treatment?
The basic case is a household — family members on the same household resident record on the base date (1 June), not counting cohabitants — that owns just one home in Korea (Enforcement Decree Art. 110-2). The lowered fair market value ratio applies whatever the official price, but the special rates apply only when the standard value is ₩900 million or less.
Where do I find the official price?
The Real Estate Official Price Notice site (realtyprice.kr) lets you look up a home's official price by year. Property tax is based on the combined official price of the building and the land.
What changes if I enter last year's official price?
If this year's official price rose by more than about 5.3% over last year, the taxable base stops at the cap (the taxable base computed from last year's price + 5% of this year's taxable base) and the tax is lower. If it did not rise that much, or you leave the box empty, the tax is calculated without a cap.
Why can this differ from my tax bill?
The regional resource and facilities tax, tax credits for automatic transfer, reductions and local ordinance rate changes are not included. Rounding down to the nearest ₩10 can also leave a difference of a few tens of won. Check the bill and your district office for the exact amount.
Is what I type saved?
No. The calculation runs only in your browser and nothing is sent or stored.
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