@article{ART001302245},
author={Choi,Gyoung-Shick and Chung, Ji Sun and ImSoo Choi},
title={A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2008},
volume={18},
number={2},
pages={27-48}
TY - JOUR
AU - Choi,Gyoung-Shick
AU - Chung, Ji Sun
AU - ImSoo Choi
TI - A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law
JO - Korea Real Estate Review
PY - 2008
VL - 18
IS - 2
PB - korea real estate research institute
SP - 27
EP - 48
SN - 2092-5395
AB - As various taxes are levied on real property in process of acquisition, tenure and transfer, national property rights are tremendously affected. It is the most important thing in real property-related taxes is to accurately valuate the leviable amount on the relevant real property, differently than other taxes. In particular, property taxes, such as the acquisition tax, the registration tax, the property tax, the comprehensive real property tax, the capital gains tax, the inheritance tax and the gift tax, are fixed according to valuation methods as the relevant property is an object of taxation. Nevertheless, as the national real property tax is fixed in accordance with each tax law, taxpayers are confused as well as such stipulations are not standardized. The followings show real property valuation methods to be improved.
First, real property valuation methods stipulated in each tax law should be unified in accordance with the property valuation law.
Second, real property should be valuated only by National Tax Service and public officials who valuate it should be urgently professionalized.
Third, real property should be valuated in accordance with market in process of acquisition and transfer, but should be valuated in accordance with earning price in process of tenure.
Forth, comparative standard sites should be increased, and real property should be valuated in accordance with the total valuation covering sites and buildings or individual valuation focused on sites same as Denmark has done.
Lastly, a legal system should be established so that taxpayers can administratively protest their taxations.
KW - Tax Law;Real Property;Valuation Method;Land;Building
DO -
UR -
ER -
Choi,Gyoung-Shick, Chung, Ji Sun and ImSoo Choi. (2008). A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law. Korea Real Estate Review, 18(2), 27-48.
Choi,Gyoung-Shick, Chung, Ji Sun and ImSoo Choi. 2008, "A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law", Korea Real Estate Review, vol.18, no.2 pp.27-48.
Choi,Gyoung-Shick, Chung, Ji Sun, ImSoo Choi "A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law" Korea Real Estate Review 18.2 pp.27-48 (2008) : 27.
Choi,Gyoung-Shick, Chung, Ji Sun, ImSoo Choi. A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law. 2008; 18(2), 27-48.
Choi,Gyoung-Shick, Chung, Ji Sun and ImSoo Choi. "A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law" Korea Real Estate Review 18, no.2 (2008) : 27-48.
Choi,Gyoung-Shick; Chung, Ji Sun; ImSoo Choi. A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law. Korea Real Estate Review, 18(2), 27-48.
Choi,Gyoung-Shick; Chung, Ji Sun; ImSoo Choi. A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law. Korea Real Estate Review. 2008; 18(2) 27-48.
Choi,Gyoung-Shick, Chung, Ji Sun, ImSoo Choi. A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law. 2008; 18(2), 27-48.
Choi,Gyoung-Shick, Chung, Ji Sun and ImSoo Choi. "A Study on the Rational Improvement of Real Property Valuation Method on the Tax Law" Korea Real Estate Review 18, no.2 (2008) : 27-48.
