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Article: The government's lie: "real estate tax 'missile' only targeted at two percent of the population".
- Article from:
- YON - Yonhap News Agency of Korea
- Article date:
- September 22, 2005
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(EDITORIAL from the Dong-a Ilbo on Sept. 22)The residents of a 94,000-unit apartment complex in Ansan, Gyeonggi Province are refusing to pay their September residential property tax that is due at the end of the month.
The reason: a large hike in property taxes caused by the reform of the local tax system, which changed the standard of taxation from "area" to "market value." Because property taxes must be paid even when there is no income generated by property holdings, even a slight increase triggers a sensitive response from taxpayers. Well aware of the explosive nature of property tax, the government has repeatedly emphasized that the August 31 real ...