“We strongly demand that the government deduct KRW 1.4 billion in comprehensive real estate tax regardless of actual residence.”

“Property tax and comprehensive real estate tax are directly related to the 2028 general election… National Assembly members are very interested.”

(Seoul = Yonhap News) Reporters Park Gyeong-jun and Ahn Jeong-hoon = The Democratic Party of Korea announced on the 8th that it strongly requested a plan to unify the basic deduction standard for comprehensive real estate tax (comprehensive real estate tax) to 1.4 billion won in housing value regardless of actual residence.

Park Seong-joon, chief spokesperson of the Democratic Party, said at a briefing held at the National Assembly after a high-level party and government meeting that day, saying, "Secretary-General Jeong-ae Han suggested it, and it was something that came up during discussions among (party-affiliated) Seoul-area lawmakers, so I suggested it."

As public opinion toward the government and ruling party is worsening due to backlash against real estate policies, the idea is to solve this problem by easing the tax burden.

Senior Spokesperson Park said, “If the budget ancillary bill and the real estate tax law are passed this year, housing property tax, land property tax, and comprehensive real estate tax will be imposed next year. In the end, there was an opinion that it would be good for the government to closely review the tax issue, which is the most important in the public sentiment in Seoul.”

In response to some reports that the Blue House dismissed the party's request, Chief Spokesperson Park emphasized, "The party has made a strong request, so we have to wait and see. As property tax and comprehensive real estate tax are directly related to the 2028 general election, members of the National Assembly are very interested in this."

When asked whether there would be an additional high-level party-government consultation meeting to discuss the real estate tax reform plan, he replied, "It will not be an additional high-level party-government consultation (held)," but added, "I don't know how it will be included when the budget ancillary bill is passed, but this is something the party has strongly said once again."

In the original tax reform plan, the government differentiated the standard for comprehensive real estate tax deduction for one homeowner: 1.4 billion won for actual residents and 900 million won for non-residents.

However, at the request of the Democratic Party leadership, which was concerned about public backlash due to the increased tax burden, a proposal was submitted to the National Assembly to set the basic deduction to 1.4 billion won for actual residents and 1.2 billion won for non-residents.