How Korea's Comprehensive Real Estate Tax Works: 1.2B Deduction, Rates
Jongbuse sums a person's declared home values, subtracts 1.2 billion won for one-home owners (900 million otherwise), and multiplies the rest by a 60% fair-market ratio to set the tax base. Rates run 0.5-2.7%, up to 5% for three-plus homes — worked by declared-value case.