Enter your home's government-assessed standard value and fair market value ratio to estimate the taxable base, the calculated property tax, the local education tax, and the total tax due including the urban area tax.
Enter the assessed value to calculate the property tax.
This is a simplified estimate only. It applies Korea's standard housing property tax rates (0.1-0.4%) — or the special reduced rate (0.05-0.35%) for single-house households with a home assessed at ₩900 million or below — as progressive rates on the taxable base (assessed value × fair market value ratio), then adds the local education tax (20% of the calculated tax) and, if applicable, the urban area tax (0.14% of the taxable base) to get the total tax due. Property tax is assessed based on ownership as of June 1 each year, and the total due is typically billed in full in July if ₩200,000 or below, or split evenly between July and September if higher. This does NOT account for the year-over-year tax burden cap, land/buildings/ships/aircraft or other non-housing property, multi-unit or multiplex housing requiring separate assessment, or local-government exemptions and reductions — so your actual bill may differ. The fair market value ratio and tax rates can change under government policy or local ordinances, so check the current official figures via WeTax (위택스) or your local government before entering them. Confirm your exact tax liability via WeTax or a licensed tax professional. This is not legal or tax advice.
Property tax (재산세) is a local tax every homeowner in Korea pays annually based on their home's officially assessed value, separate from and much more broadly applicable than the comprehensive real estate tax that only affects higher-value holdings. This tool estimates your annual property tax, including any applicable urban area surcharge and local education tax, plus how the total splits across the standard payment schedule.
Taxable base is your home's assessed value × the fair market value ratio (currently 60%, adjustable in the calculator since it's periodically set by government policy). The standard progressive rate table (0.1% to 0.4% across brackets) applies to that base, or a reduced special rate (0.05% to 0.35%) applies instead if you qualify as a single-home owner with an assessed value of 900 million KRW or under. If you include the urban area surcharge, an additional 0.14% of the taxable base is added, and local education tax (20% of the calculated property tax) is added on top — the total is then noted as either a single July payment or split across July and September installments depending on the amount.