Korea’s comprehensive real estate tax arrives every year whether or not the home is sold. Article 20-2 of the Comprehensive Real Estate Tax Act therefore lets a one-home household apply for deferral of the housing portion if it meets all four conditions: (1) a one-home household on the assessment date; (2) aged 60 or over, or owning the home for 5 years or more; (3) last year’s total salary ₩70 million or less (or, with salary not over ₩70 million, global income ₩60 million or less); and (4) housing tax for the year over ₩1 million. Apply 3 days before the deadline and give security. The tax does not go away: selling, gifting or death cancels the deferral, and the tax is collected with interest at 31/1000 a year. The checker tests each condition and counts the interest.
1. All four conditions — one home; 60+ or 5 years owned; salary ₩70 million or less (global income ₩60 million or less); tax over ₩1 million.
2. Apply 3 days before the deadline, with security — 12 December for 2026 (our count).
3. Selling, gifting or inheritance cancels it — tax plus interest at 3.1% a year; no late-payment penalty for that period.
Checker
Updates as you type. Interest = deferred tax × 31/1000 × days ÷ 365, won below 1 dropped (our method; the Decree multiplies the period by the rate). Count days from the day after the deferral year’s deadline to the date the tax is demanded. The tax office decides; this is a first check.
The four conditions — Art. 20-2(1)
| Item | What the Act says | Worth noting (ours) |
|---|---|---|
| 1 | A one-home household on the assessment date, including joint one-home owners under Art. 10-2 | The assessment date is 1 June (Art. 3) |
| 2 | On the assessment date, aged 60 or over, or owning the home for 5 years or more | Either is enough |
| 3(a) | Last year’s total salary ₩70 million or less (only for those with salary alone, or salary plus income not added to global income) | Salaried people |
| 3(b) | Last year’s global income ₩60 million or less (only for those whose total salary does not exceed ₩70 million) | Business, pension or financial income added in |
| 4 | Housing comprehensive real estate tax for the year over ₩1 million | “Over”, not “at least” |
Item 3 is met by either limb. Both limbs, though, carry the salary limit, so salary over ₩70 million rules you out either way on our reading; the checker counts it that way.
Applying — Art. 20-2(1)–(2), Decree Art. 16-2
| Type | What the source says | Worth noting (ours) |
|---|---|---|
| Deadline | Apply 3 days before the payment deadline | 2026 deadline 15 December → 12 December, a Saturday (our count) |
| Security | Give security equal to the deferred housing tax | We did not read which kinds qualify |
| Notice | The office notifies its decision in writing by the end of the payment period | Decree Art. 16-2(2) |
Six grounds for cancellation — Art. 20-2(3)
| Item | Ground | Worth noting (ours) |
|---|---|---|
| 1 | The home is sold or gifted | Deferral lasts until you sell |
| 2 | Death — inheritance begins | Heirs pay up to what they inherit (para. 5) |
| 3 | No longer a one-home household | Buying a second home |
| 4 | Failing to follow orders to change or keep up the security | — |
| 5 | A ground in National Tax Collection Act Art. 9(1) applies, making full collection doubtful | Early-collection grounds |
| 6 | You choose to pay the deferred tax | You can end it early |
The interest — Decree Art. 16-2(3)
On cancellation the office collects (1) the deferred amount less anything paid, plus (2) that amount × the period × the rate. The period runs from the day after the deadline of the year deferral was granted to the date the tax is demanded; the rate is the one in Framework Act on National Taxes Decree Art. 43-3(2), which the Enforcement Rule Art. 19-3 sets at 31/1000 a year — 3.1% (revised 2 January 2026). In return, no late-payment penalty tax under Framework Act Art. 47-4 is charged for that period (Art. 20-2(6)).
| Deferred (our example) | Interest | Worth noting (our sum) |
|---|---|---|
| ₩3 million, 365 days | ₩93,000 | 3m × 3.1% × 365 ÷ 365 |
| ₩3 million, 1,095 days (3 years) | ₩279,000 | Each year’s deferral is counted separately |
| ₩1.5 million, 730 days | ₩93,000 | — |
Dividing by 365 and dropping won below 1 are our method; the Decree only says the period is multiplied by the rate. The rate has changed by Rule amendment almost every year since 2013, so check the rate when the tax is demanded. The tax itself is in comprehensive real estate tax guide; age and ownership credits in senior and long-term ownership credits.
Checklist
- ☐ One-home household on 1 June (joint one-home included)
- ☐ 60 or over, or 5 years owned
- ☐ Salary ₩70 million or less; with added income, global income ₩60 million or less
- ☐ Housing tax over ₩1 million
- ☐ Application and security 3 days before the deadline
- ☐ On sale: the tax plus 3.1% a year interest
Questions that remain
Can it be combined with instalments?
Neither article mentions the other. Instalments are in comprehensive real estate tax instalment calculator; ask the tax office about combining them.
Is the land portion covered?
The article speaks only of the housing portion.
Sources
- Korean law database (law.go.kr) — Comprehensive Real Estate Tax Act Art. 20-2 — source (current text, effective 1 January 2026, Act No. 21224; checked 27 October 2026). The four conditions, applying 3 days before the deadline with security, notice, six cancellation grounds, interest, no late-payment penalty.
- Korean law database — Enforcement Decree Art. 16-2 — source (effective 1 October 2026, Decree No. 36739; checked 27 October 2026). Application, written notice, interest (period × rate).
- Korean law database — Framework Act on National Taxes Decree Art. 43-3(2) and Rule Art. 19-3 — Decree (effective 1 July 2026, No. 36125) · Rule (effective 20 March 2026, No. 18). Base rate 31/1000 a year.
- Not read. Kinds of security (National Tax Collection Act), its Art. 9 grounds, the form.
- What we added. The “worth noting” column and the Korean everyday gloss.
Where to check further
- Your tax office or Hometax — the deferral form, security and decision.
Written on 27 October 2026. The content is from the source; the glosses are ours.
