The National Assembly adopts a bill on the relaxation of property taxes l KBS WORLD

Photo: Yonhap News

Parliament has approved a comprehensive property tax relief bill for temporary owners of two houses.

In a plenary session on Wednesday, the National Assembly adopted the amendment to the comprehensive property tax law with 178 votes in favor, 23 against and 44 abstentions.

The amended bill excludes one of the houses when calculating property taxes in the event that an individual temporarily owns two houses during the moving process or as a result of an estate, or in the case of owning two houses. a low-cost house outside the capital devoid of speculative purpose.

The bill will also allow long-time single-family homeowners who meet other criteria, such as being over 60 and earning less than a specified amount, to defer their tax payments until that the house changes hands, including when the property is transferred to someone. if not inherited.

The changes will come into effect at the end of November this year.

Meanwhile, ruling and opposition parties have promised to reach consensus within a year on increasing the tax base to provide additional tax deductions, which the main opposition has opposed. , considering this decision as a special dispensation for the wealthy.

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