Yongin City Imposes KRW 348.9 Billion in September Property Tax, Up 5.4% from Last Year

Impact of New Apartment Construction and Increase in Official Property Values
Second Installment for Residential Property and 528,840 Land Cases... Payment Due by September 30

Yongin Special City in Gyeonggi Province (Mayor Lee Sang-il) announced on September 11 that it has imposed a total of KRW 348.9 billion in property tax on 528,840 cases for the second installment of residential property and for land for September 2026.

Yongin Special City Hall exterior. Provided by Yongin City

This represents an increase of KRW 18 billion (5.4%) compared to the KRW 330.9 billion imposed during the same period last year. The city explained that this increase is due to a greater number of taxable properties following the construction of new apartment buildings, as well as a rise in the officially assessed land value and housing prices.

Property tax is levied every year as of June 1 on owners of real estate, including houses and land. The first installment for residential property and buildings is imposed in July, while the second installment for residential property and for land is imposed in September. If the annual property tax due for housing exceeds KRW 100,000, it is paid in two equal installments in July and September; if it is KRW 100,000 or less, it is paid in full in July.

The payment deadline is September 30. Even without a physical tax bill, payments can be made through cash dispensers or ATMs at financial institutions nationwide, as well as via Wetax, Internet Giro, Smart Wetax, simple payment apps, virtual accounts, and by ARS credit card (142211).

Those who apply for the electronic delivery service to receive their tax bill via email or a mobile app instead of a paper statement will receive a KRW 800 deduction. If automatic transfer is also applied for, the deduction increases to up to KRW 1,600.

An official from Yongin City stated, "If property tax is not paid within the given deadline, penalties and other disadvantages may occur, so please make sure to pay by September 30."

This content was produced with the assistance of AI translation services.