Own property or a car in Korea long enough and two bills arrive without warning: property tax (재산세) in July and September, and car tax (자동차세 소유분) in June and December. Both are local taxes, both are automatic, and both use June 1 as the ownership cutoff date. Miss a payment and the penalties start the next day.
This guide covers what you owe, how both taxes are calculated, when comprehensive real estate tax (종합부동산세) becomes relevant, and how to pay without a Korean bank card.
The June 1 ownership rule: why the sale date matters
Both property tax and car tax use the same assessment date (과세기준일): June 1 each year.
Whoever legally owns the asset on June 1 pays the full year's tax. This applies even if they sell the property or vehicle on June 2.
For property buyers: if your purchase closes on June 1 or before, you owe that year's property tax. If it closes on June 2 or later, the seller owes it and you will first receive a bill the following July.
For car buyers: the same logic applies to the June 1 and December 1 billing periods. Buy a car on June 2 and you skip the first installment entirely.
This date creates a predictable negotiating point in Korean property and car transactions. Buyers sometimes ask for a price adjustment when the purchase falls just before June 1, because they will inherit the year's tax bill.
Property tax (재산세): who pays, how much, when
Who owes property tax
Any person or entity that legally owns real estate in Korea on June 1 owes property tax that year. Nationality and visa type are not factors. Foreign residents who own an apartment, land, or a building pay the same tax as Korean citizens in the same ownership position.
The tax notice (고지서) is mailed to your registered address in Korea. If your address on file is incorrect, you can still look up and pay your bill through Wetax (위택스) at wetax.go.kr.
How property tax is calculated
The starting point is the public announced price (공시가격) of your property. This is not the purchase price or market value. The government announces this figure annually, and you can check it at the Real Estate Price Disclosure System (부동산공시가격알리미) at realtyprice.kr.
The calculation then applies a fair-market-value ratio (공정시장가액비율) to arrive at the taxable standard (과세표준). Tax rates are applied to this taxable standard, not to the full public announced price.
For general (non-single-home) housing, the fair-market-value ratio is 60% (as of 2026).
For single-home households (1세대 1주택자), the 2026 ratios are:
| Public announced price | Ratio |
|---|---|
| ₩300 million or less | 43% |
| Over ₩300 million to ₩600 million | 44% |
| Over ₩600 million | 45% |
These reduced ratios mean single-home households pay tax on a smaller base than the standard 60%.
Property tax rates for housing
Two rate tables apply to housing, depending on your situation.
Standard rate (general housing and multi-home owners):
| Taxable standard (과세표준) | Tax |
|---|---|
| Up to ₩60 million | 0.1% |
| ₩60 million to ₩150 million | ₩60,000 + 0.15% on the amount over ₩60 million |
| ₩150 million to ₩300 million | ₩195,000 + 0.25% on the amount over ₩150 million |
| Over ₩300 million | ₩570,000 + 0.4% on the amount over ₩300 million |
Reduced rate (single-home households with public announced price at or below ₩900 million, as of 2026):
| Taxable standard | Tax |
|---|---|
| Up to ₩60 million | 0.05% |
| ₩60 million to ₩150 million | ₩30,000 + 0.1% on the amount over ₩60 million |
| ₩150 million to ₩300 million | ₩120,000 + 0.2% on the amount over ₩150 million |
| Over ₩300 million | ₩420,000 + 0.35% on the amount over ₩300 million |
A local education surtax (지방교육세) of 20% of the property tax amount is added on top of the property tax for housing, under Article 151 of the Local Tax Act (지방세법 제151조). This is a different rate from the 30% surtax on car tax; do not confuse the two.
When property tax is billed
For housing, the bill is split into two equal installments:
- First installment: July 16-31
- Second installment: September 16-30
If the total annual housing tax is ₩200,000 or less, your local government may consolidate it into one July bill. The Local Tax Act (지방세법 제115조) states: if the amount to be assessed in a given year is ₩200,000 or less, it can be collected all at once during the July 16-31 period by local ordinance.
Buildings (other than housing) are billed July 16-31 only. Land (토지) is billed September 16-30 only.
Comprehensive real estate tax (종합부동산세): the national-level tax on high-value holdings
Property tax (재산세) is a local tax every property owner pays. Comprehensive real estate tax (종합부동산세, often abbreviated 종부세) is a separate national tax assessed by the National Tax Service (NTS, 국세청). It applies only above a high threshold and is layered on top of property tax, not in place of it.
Who owes comprehensive real estate tax
The NTS adds up the public announced prices across all your housing in Korea. If the total exceeds the basic deduction (기본공제), you owe 종부세 on the excess.
Current basic deductions (enacted law, 2026 tax year):
| Category | Deduction threshold |
|---|---|
| General individual | ₩900 million |
| Single-home household (1세대 1주택자) | ₩1.2 billion |
| Corporation | None |
Most foreign residents who own one apartment in Korea will not exceed these thresholds and will not owe 종부세. Check your property's public announced price at realtyprice.kr to see where you stand.
How comprehensive real estate tax is calculated
The calculation starts with the sum of your housing's public announced prices, minus the basic deduction. A fair-market-value ratio of 60% (as of 2026) then applies to reach the taxable standard. Rates are then applied to that taxable standard.
Current 종부세 rates for individuals holding two or fewer homes (2026 enacted law):
| Taxable standard | Rate |
|---|---|
| ₩300 million or less | 0.5% |
| ₩300 million to ₩600 million | 0.7% |
| ₩600 million to ₩1.2 billion | 1.0% |
| ₩1.2 billion to ₩2.5 billion | 1.3% |
| ₩2.5 billion to ₩5.0 billion | 1.5% |
| ₩5.0 billion to ₩9.4 billion | 2.0% |
| Over ₩9.4 billion | 2.7% |
Current 종부세 rates for individuals holding three or more homes (2026 enacted law):
| Taxable standard | Rate |
|---|---|
| ₩300 million or less | 0.5% |
| ₩300 million to ₩600 million | 0.7% |
| ₩600 million to ₩1.2 billion | 1.0% |
| ₩1.2 billion to ₩2.5 billion | 2.0% |
| ₩2.5 billion to ₩5.0 billion | 3.0% |
| ₩5.0 billion to ₩9.4 billion | 4.0% |
| Over ₩9.4 billion | 5.0% |
When comprehensive real estate tax is paid
종부세 is assessed as of June 1 (same as property tax) and paid during December 1-15. If the bill exceeds ₩2.5 million, you may pay up to half within the following six months instead of paying all at once.
Proposed reform for 2026: not yet law
On August 3, 2026, the Korean government announced proposed changes to comprehensive real estate tax. The proposals include raising the single-home deduction from ₩1.2 billion, introducing a new deduction for multi-property holders, and adjusting the fair-market-value ratio upward over 2027-2028.
These are proposals only. The National Assembly is scheduled to review them in its regular September 2026 session. None of these changes are current law.
The 2026 tax year (종부세 assessed June 1, 2026, payable December 1-15, 2026) is governed by the current law described above. Do not use the proposed figures for any planning or calculation until the Assembly enacts them.
Car ownership tax (자동차세 소유분): the twice-yearly bill for vehicle owners
Who owes car tax
Whoever owns a vehicle registered in Korea on the first day of a billing month owes car tax for that period. Nationality and visa type do not affect liability.
Car ownership tax (자동차세 소유분) is a different tax from the acquisition tax (취득세) you paid when buying the vehicle. Acquisition tax is a one-time payment at purchase. Car ownership tax is an annual recurring charge, split into two installments.
How car tax is calculated
For private (non-commercial) passenger cars, the base rate depends on engine displacement:
| Engine displacement | Annual rate per cc |
|---|---|
| 1,000cc or less | ₩80 per cc |
| 1,001cc to 1,600cc | ₩140 per cc |
| Over 1,600cc | ₩200 per cc |
Example calculation for a 1,998cc private car:
- First 1,600cc at ₩140: ₩224,000
- Remaining 398cc at ₩200: ₩79,600
- Base car tax: ₩303,600 per year
The 30% local education surtax
A local education surtax (지방교육세) of 30% is added to every car tax bill automatically. For the example above:
- Base tax: ₩303,600
- Education surtax (30%): ₩91,080
- Total billed: ₩394,680 per year, or approximately ₩197,340 per installment
This surtax is not optional and does not appear as a separate bill. It is already included in the amount on your tax notice.
Vehicle age reduction (차령 경감)
For private passenger cars three years old or older, the base tax rate drops by 5% per year of age. The reduction caps at 50% for vehicles 12 years old or older.
Reduction schedule for private passenger cars:
| Vehicle age | Reduction |
|---|---|
| Less than 3 years | None |
| 3 years | 5% |
| 4 years | 10% |
| 5 years | 15% |
| 6 years | 20% |
| 7 years | 25% |
| 8 years | 30% |
| 9 years | 35% |
| 10 years | 40% |
| 11 years | 45% |
| 12 years and older | 50% |
The 50% reduction applies to the base tax rate before the 30% education surtax is added.
When car tax is billed
- First installment (January through June): billed June 16-30
- Second installment (July through December): billed December 16-31
If the total annual tax is ₩100,000 or less, the full amount is billed in June only.
Annual prepayment discount (연납): how to pay once in January and save
You can pay the full year's car tax in advance and receive a discount. The statutory deduction rate is 5% in 2026, set by the Local Tax Act Enforcement Decree (지방세법 시행령 제125조). A scheduled cut to 3% was postponed, so 5% still applies. The effective discount is lower than 5% because it applies only to the remaining months after your payment date.
2026 application windows and approximate effective discounts:
| Application window | Months covered | Approximate effective discount |
|---|---|---|
| January 16-31 | February through December | 4.58% |
| March 16-31 | April through December | 3.76% |
| June 16-30 | July through December | 2.51% |
| September 16-30 | October through December | 1.25% |
January gives the most savings. You apply through Wetax (위택스) or Seoul ETAX (이택스) during the relevant window. The discounted amount is calculated automatically.
How to pay: Wetax, ETAX, and options without a Korean card
Wetax (위택스) for most locations outside Seoul
Go to wetax.go.kr. This portal covers property tax and car tax for all Korean local governments outside Seoul.
Foreign residents can register using:
- Alien registration number (외국인등록번호)
- Registered English name (as shown on your alien registration card)
Login methods that do not require a Korean digital certificate:
- KakaoTalk simple authentication
- Naver simple authentication
- PASS app authentication
Service hours: tax inquiry from 06:00 to 24:00; payments from 07:00 to 23:30.
Paying without logging in: use the 19-digit electronic payment number (전자납부번호) printed on your mailed tax notice. Select the non-member payment option on Wetax and enter that number. No account or Korean certificate needed.
Seoul ETAX (이택스) for Seoul properties and vehicles
If your property or vehicle is registered in Seoul, use etax.seoul.go.kr or the Seoul STAX mobile app.
Payment methods include Korean credit or debit cards, bank transfer (계좌이체), and simple payment apps. Foreign credit card acceptance is not confirmed in primary sources. If you do not have a Korean card, use the virtual account (가상계좌) option to get a temporary bank account number for a standard transfer, or pay in person at any bank counter.
Paying at a bank counter
Any bank in Korea accepts local tax payments at the counter. Bring your mailed tax notice (고지서) and your alien registration card. The teller processes the payment on the spot.
Auto-payment setup (자동이체)
Wetax offers an automatic debit option linked to a Korean bank account. This debits your account on the due date without any manual action each billing period. Whether this option works with foreign-currency accounts is not confirmed in primary sources. Check with Wetax support or your bank before relying on this method.
What happens if you do not pay
Immediate penalty: an initial 3% penalty applies on the day after the due date on the overdue amount.
Continued non-payment: if the overdue amount is ₩450,000 or more, an additional 0.66% per month is charged for each month it stays unpaid, up to a maximum of 60 months. This is set by the Framework Act on Local Taxes (지방세기본법 제55조).
Plate seizure (번호판 영치): for unpaid car tax, local governments can seize your vehicle's license plates under the Local Tax Collection Act (지방세징수법). In practice, districts typically send advance notice before a first seizure and may move faster on repeat delinquency, but the exact timing is set by each local government, so treat any overdue car tax as urgent.
Plate seizure makes it impossible to legally drive the vehicle until the tax and penalties are paid and the plates are returned.
Leaving Korea: settle before you go
Unpaid property tax or car tax does not disappear when you leave Korea. Tax debts remain collectable by Korean authorities and can complicate future applications or re-entry. Settle any outstanding balance before your departure.
To check your full balance:
- Log in to Wetax (위택스) at wetax.go.kr using your alien registration number.
- Select the tax inquiry menu.
- Any outstanding bills appear with amounts and due dates.
If you own property and are leaving Korea, consider whether any remaining installment bills will arrive after your departure. You can pay future installments in advance through Wetax, or authorize a trusted person in Korea to pay on your behalf using the tax notice number.
How to pay your property or car tax through Wetax
- Go to Wetax (위택스) or ETAX (이택스). Use wetax.go.kr for properties and vehicles outside Seoul. Use etax.seoul.go.kr for Seoul.
- Log in using your alien registration number. Select KakaoTalk, Naver, or PASS simple authentication. You do not need a Korean digital certificate.
- Find your tax notice. Search by your alien registration number. Outstanding bills appear with the amount, due date, and 19-digit electronic payment number.
- Verify the amount and due date. For housing property tax, confirm you see the July and September installments (or one July bill if the total is ₩200,000 or less). For car tax, confirm the 30% education surtax is included in the billed amount.
- Pay using your preferred method. Korean card, bank transfer, or simple payment app. Without a Korean card, select virtual account (가상계좌) for a bank transfer, or pay at any bank counter with your tax notice.
- Save the payment confirmation. Your payment record updates on Wetax within one business day.
FAQ
Does property tax apply to foreign residents in Korea?
Yes. Property tax (재산세) is an ownership tax. Any person who legally owns property in Korea on June 1 owes that year's property tax, regardless of nationality or visa type. The calculation and rates are identical to those that apply to Korean citizens.
I own property in Korea and abroad. Is my overseas property taxed?
Property tax (재산세) covers only property located in Korea. Overseas property is not subject to Korean local property tax.
Comprehensive real estate tax (종합부동산세) also covers only housing located in Korea. If your total Korean housing public price stays below the ₩900 million deduction threshold, you will not owe 종부세 even if you own additional property abroad.
How do I find my property's public announced price (공시가격)?
Go to realtyprice.kr, the government's official Real Estate Price Disclosure System (부동산공시가격알리미). Search by address. The site shows the current year's announced price, which is the starting number for your property tax calculation.
My car tax bill looks higher than I expected. What is the extra charge?
The 30% local education surtax (지방교육세) is added to the base car tax amount for all private passenger vehicles. This is not a separate bill. The amount on your tax notice already includes both the base tax and the surtax. If your car is 12 years old or older, confirm that the 50% vehicle age reduction (차령 경감) has been applied to the base rate before the surtax is added.
Can I pay property tax and car tax at the same time?
Yes. Through Wetax or Seoul ETAX, you can view and pay all outstanding local tax bills in one session. Each bill appears separately with its amount and due date.
What is the difference between property tax (재산세) and comprehensive real estate tax (종합부동산세)?
Property tax (재산세) is a local tax that every property owner in Korea pays, regardless of how valuable the property is. Comprehensive real estate tax (종합부동산세) is a national tax assessed by the NTS only when total housing public prices exceed a high threshold (currently ₩900 million for most individuals). Both taxes are assessed as of June 1 each year, but property tax is paid in July and September, while comprehensive real estate tax is paid in December.