Property Tax Calculator
Last updated: 2026-06-25
Housing property tax base = published price × fair market value ratio (60%), and the base tax is computed by applying progressive rates (0.1-0.4%) to the tax base.
The actual bill adds the urban-area portion, local education tax, and more, so this calculator provides only the estimated base property tax.
Property Tax Calculation
Base property tax (estimated)
0 KRW
| Item | Value |
|---|---|
| Published price | |
| Fair market value ratio | |
| Tax base | |
| Applied rate | |
| Progressive deduction | |
| Base property tax (estimated) |
Beyond the base tax, the urban-area portion, local education tax, and a tax-burden cap may apply, so the actual bill may differ. For the exact amount, check Wetax.
How to use
- Enter the published price — Enter the official published housing price (apartment price, etc.) in KRW.
- Run the calculation — Click Calculate. The tax base is computed as published price × fair market value ratio (60%).
- View the result — See the tax base, the applied rate tier, and the estimated base property tax.
How housing property tax is calculated
Property tax is a local tax levied each year on real estate owners as of June 1. Housing property tax is computed by applying progressive rates to a tax base equal to the published price multiplied by the fair market value ratio. The fair market value ratio for housing is 60%, and rates rise progressively from 0.1% to 0.4% by tax-base tier.
| Tax base | Rate | Progressive deduction |
|---|---|---|
| 60 million KRW or less | 0.1% | - |
| 60 million – 150 million | 0.15% | 60,000 KRW |
| 150 million – 300 million | 0.25% | 195,000 KRW |
| Above 300 million | 0.4% | 630,000 KRW |
Base property tax = tax base × rate − progressive deduction. For example, a home with a published price of 500 million KRW has a tax base of 300 million, and in the 300 million tier the 0.25% rate minus the 195,000 KRW deduction gives a base tax of about 555,000 KRW. The actual bill adds the property tax urban-area portion (0.14% of the tax base) and local education tax (20% of the property tax), and a year-over-year tax-burden cap may apply. For the acquisition-stage tax, see the Acquisition Tax Calculator; for the total transaction cost, see Taxes and Costs When Buying a Home in Korea.
Frequently Asked Questions (FAQ)
How is housing property tax calculated?
Tax base = published price × fair market value ratio (60% for housing), and progressive rates are applied. The rates are 0.1% up to 60 million KRW, 0.15% up to 150 million (progressive deduction 60K), 0.25% up to 300 million (deduction 195K), and 0.4% above 300 million (deduction 630K).
What is the fair market value ratio?
The fair market value ratio is the rate multiplied against the published price to set the tax base; for housing it is 60% (it may be lower under a single-home special rule). So a home with a published price of 500 million KRW has a tax base of 300 million.
Does this amount match the actual bill?
This calculator shows only the estimated base property tax. The actual bill adds the property tax urban-area portion (0.14% of the tax base), local education tax (20% of the property tax), the regional resource facility tax, and more, and a tax-burden cap may apply, so the amount may differ.
When is property tax due?
Housing property tax is levied each year based on the owner as of June 1, and paid in two halves in July and September (if the tax is 200,000 KRW or less, it is billed once in July). Check the exact amount and due dates on Wetax.
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Last updated: 2026-06-25