Seongnam Mayor Shin Sang-jin expressed concern on October 8 that the city council's delay in reviewing the "temporary property tax relief for one household one home" policy, a key pledge of his administration, is increasing the financial burden on citizens.
Mayor Shin noted that the failure to process the ordinance means that the refund procedures originally scheduled for November will now likely be postponed until mid-December, delaying the relief for residents.
To alleviate the increased tax burden on citizens due to high oil prices, exchange rates, inflation, and rising housing appraisal values, the mayor is advocating for temporary property tax reductions.
However, the city council's Economic and Environmental Committee recently did not approve the proposed amendment to the Seongnam City Tax Ordinance.
During the review process, concerns were raised regarding the fairness of the tax relief criteria and the need for further examination of related legal interpretations. Disagreements over whether to postpone the ordinance and the subsequent voting led to the proposal's failure.
The matter is set to be discussed again at the 314th regular session of the Seongnam City Council in November.
The proposed amendment aims to provide temporary property tax relief for homeowners as of June 1, 2026. Homes valued at 900 million won or less would receive a 50% reduction, while those valued between 900 million and 1.2 billion won would see a 20% reduction.
However, homes valued over 1.2 billion won are excluded from the relief due to the potential for additional comprehensive real estate tax assessments based on the amount of tax relief.
The mayor's push for this policy reflects a commitment to reducing the financial burden on citizens in a way that they can feel, particularly for those who own a single home and are facing increased household expenses due to high inflation and rising housing prices.
With the delay in processing the ordinance, the implementation of the policy will be postponed beyond the original timeline. Mayor Shin had planned to notify eligible residents and initiate the refund process in November, but the delay means that actual refunds may not occur until mid-December.
Citizens have expressed disappointment over the delay in refunds amid rising inflation and property values, while also calling for clear explanations regarding the criteria for varying tax relief rates based on property values and the fairness of the support targets.
Mayor Shin stated, "Once the amendment to the tax ordinance is passed, we will thoroughly prepare the system to ensure that property tax refunds can be processed quickly and without issues." He added that preparations will be made to facilitate prompt refunds as soon as the ordinance is approved by the council.
* This article has been translated by AI.
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