The first tax you meet when buying a home in Korea is acquisition tax — and it ranges from 1% to 12% depending on how many homes you'll own and where. On a ₩900M home that's the difference between ₩27M and ₩108M. Worth calculating before you sign.
And there is more than one deadline. Seocho District's guidance lists them separately: 60 days for ordinary purchases, six months for inheritance, three months for gifts. Memorise only "60 days" and you will miss the deadline on a gifted home.
For a purchase, acquisition tax is due within 60 days of acquisition (usually the balance payment date). A scrivener typically handles it with registration, but know the amount in advance so your funding plan holds.
Housing acquisition tax rates
Rates depend on the number of homes you'll own after the purchase and whether the area is regulated. Seocho District's published table reads:
| Area | 1 home | 2 homes | 3 homes | Corporate / 4+ |
|---|---|---|---|---|
| Regulated | 1–3% | 8% | 12% | 12% |
| Non-regulated | 1–3% | 1–3% | 8% | 12% |
Note it's the count after the purchase, and it includes every home in your household.
Non-residential property runs on its own table. Guri City lists standard rates of 3.00% on farmland, 4.00% on other real estate, 2.80% on original acquisition, 2.30% and 2.80% on inherited farmland and other property, and 3.50% on gratuitous acquisition. Officetels and commercial units take the 4%.
The single-home bracket is a slope, not a cliff
| Up to ₩600M | 1% |
| ₩600M – ₩900M | (price ÷ 300M × 2 − 3)% → 1.01% to 2.99% |
| Over ₩900M | 3% |
Seocho's page spells it out to two decimals: "₩600M or less 1%, above ₩600M up to ₩900M 1.01–2.99%, above ₩900M 3%." A ₩700M home works out to about 1.67%, or roughly ₩11.7M. ₩601M does not suddenly jump.
The surcharge rates are not fixed numbers
This structure is not widely known, and knowing it makes other sources readable. Guri City's page introduces a "standard surcharge rate of 2.00%": surcharges in over-concentration and metropolitan zones are computed as the standard rate plus 2%, doubled or tripled, and for villas and luxury housing as the standard rate plus 2%, quadrupled.
So "12%" is not a figure written into the statute — it is what falls out of a multiplier. That is why changing only the multiplier at amendment time moves the final rate sharply.
Gifts deserve care too. Guri lists the standard rate on gratuitous acquisition as 3.50% — but states that where the home is valued at ₩300M or more, 12% applies. People who remember only "gifts are 3.5%" get a bill more than three times what they expected.
It isn't only acquisition tax — the surtaxes
| Acquisition tax | The main tax (1–12%) |
| Local education tax | Linked to the acquisition tax rate |
| Special rural development tax | Applies above 85㎡; widely reported as exempt at 85㎡ or under |
The floor-area condition is one quiet reason the 84㎡ "national size" stays popular. That said, as noted in the sources section below, the exact rates for these two surtaxes could not be checked against a public-agency original. Confirm the total on the bill through Wetax or your district tax office.
What changed in 2026
From the Korea Association of Realtors' summary of the 2026 amendments, the items touching acquisition tax are these.
| Item | Change |
|---|---|
| Home purchase for childbirth or child-rearing | 100% relief, capped at ₩5M |
| First-home relief in population-decline areas | Cap ₩2M → ₩3M |
| Second-home price threshold | ₩300M → ₩1.2B (₩1.5M cap) |
| Related-party undervalue transfer test | Gap of ₩300M or 30% of assessed market value |
| Unsold new-build price threshold | ₩600M → ₩700M |
⚠️ Two provisions are routinely conflated. The 100% relief capped at ₩5M is for childbirth and child-rearing purchases; the population-decline change is a first-home cap raised to ₩3M. Plenty of write-ups merge them into one.
First-home buyer relief
| Maximum relief | ₩2M (₩3M in population-decline areas) |
| Eligibility | Households where no member has ever owned a home |
| Price limit | A ceiling applies — confirm with your local government before filing |
Temporary two homes — the upgrade rule
- Becoming a two-home owner through a move or marriage can still qualify for 1–3% rates if you dispose of the old home in time.
- The disposal window varies by area and acquisition date — confirm with your local government before signing.
- Miss the deadline and the difference is clawed back — the gap between 8% and 1–3% is substantial.
- Declare the temporary two-home status when filing.
If you're late, there is relief
Ansan City's Sangnok-gu page sets out the penalties precisely: 20% for non-filing, 10% for under-reporting, and 22 per 100,000 per day for late payment. But that isn't the end of it.
| Type | Within 1 month | Within 3 months | Within 6 months |
|---|---|---|---|
| Late filing | 50% reduction | 30% reduction | 20% reduction |
| Amended filing | 90% reduction | 75% reduction | 50% reduction |
Correcting a mis-filing within one month cuts the penalty by 90%. "It's already late, nothing to be done" is exactly wrong — every day earlier is money. The same page puts the penalty for reselling without registering at 80% of the acquisition tax.
Counting homes — the confusing parts
| Residential officetel | May count toward home number (taxed at 4% itself) |
| Pre-sale rights | Counted, depending on acquisition date |
| Inherited home | Special rules may exclude it for a period |
| Homes under ₩100M published price | May be excluded from the surcharge |
This is where disputes arise. When unsure, ask Wetax or your district tax office before signing — misfiling brings penalties.
Pre-contract checklist
- Count household homes after purchase
- Check whether the area is regulated
- Check whether the unit exceeds 85㎡
- Check first-home and childbirth relief eligibility
- If upgrading, confirm the disposal deadline
- Budget the amount — it's due within 60 days, separate from the purchase price
Run the numbers in the property tax calculator first. The full sequence from contract to registration is in the apartment purchase guide.
Questions you may have
When is it due?
For a purchase, within 60 days of acquisition. Inheritance is six months and gifts are three months — all different.
Is a gifted property taxed differently?
Yes. The standard gratuitous-acquisition rate is 3.50%, but 12% applies where the home is valued at ₩300M or more.
Do new-build purchases pay it?
Yes — at occupancy (balance payment), not at contract.
I forgot to file.
A late filing within one month cuts the penalty by 50%. Do it now.
Is it deductible later?
Yes, as an allowable expense for capital gains tax. Keep the receipt.
What do I pay every year after buying?
Property tax annually, plus the comprehensive real estate tax above a certain assessed value. The assessment date is 1 June, which matters when you set your closing date.
Sources and where to check
- Seocho District Office — acquisition tax (last updated 20 December 2023). Source of the regulated/non-regulated rate table, the "1% / 1.01–2.99% / 3%" bands, the 60-day, six-month and three-month deadlines, and the 20%, 10% and daily 22-per-100,000 penalties.
- Guri City Hall — acquisition tax (last updated 24 November 2023). Source of the full standard rate table, the 2.00% standard surcharge rate and its multiplier structure, and the rule that gratuitous acquisition of a home valued at ₩300M or more takes 12%.
- Ansan City Sangnok-gu tax office — acquisition tax. Source of the late-filing (50/30/20%) and amended-filing (90/75/50%) reductions and the 80% unregistered-resale penalty.
- Korea Association of Realtors news — summary of 2026 property tax amendments (February 2026). Source of the 100% childbirth relief capped at ₩5M, the ₩2M → ₩3M population-decline first-home cap, the ₩300M → ₩1.2B second-home threshold, the related-party test and the unsold new-build threshold.
Written as of July 2026. The rate tables, deadlines, penalties, reductions, standard surcharge rate and the 12% gift rule come from the municipal pages above; the 2026 amendments come from the realtors' association article. Note, however, that the Seocho and Guri pages were last updated in 2023, so whether they reflect amendments made in 2024 to 2026 could not be verified. Separately, the exact local education and rural development surtax rates and the 85㎡ exemption, the price ceiling and income test for first-home relief, the disposal window for temporary two-home status, and the current list of regulated areas could not be checked against a public-agency original. The National Tax Service, Ministry of the Interior and Wetax sites would not open. Re-confirm with Wetax and your own city or district tax office before signing. This is general information, not tax advice.
