@article{ART002031352},
author={Park, Joon and Jaehwan Kim and Bae,Yu-Jin},
title={An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2015},
volume={25},
number={3},
pages={27-39}
TY - JOUR
AU - Park, Joon
AU - Jaehwan Kim
AU - Bae,Yu-Jin
TI - An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax
JO - Korea Real Estate Review
PY - 2015
VL - 25
IS - 3
PB - korea real estate research institute
SP - 27
EP - 39
SN - 2092-5395
AB - The Publicly Noticed Value of Real Estate Price (PNV) is below actual sales price in Korea. The ratio of PNV to actual sales price is around 65% with some variance by region and type of property. An upward adjustment of the ratio of PNV to actual sales price would lead to an upturn of tax base and amount of property tax since the PNV is used for calculating the tax base. The purpose of this study is to figure out the current level of property tax load of households and estimate the changes of property tax from the change of PNV, which can be a base for fine tuning of policies on tax and PNV system. If the ratio of PNV to actual sales price increase to 80~100% from the current level of around 65%, it is estimated that household’s average Property Tax would increase by 27~64% and household’s average Gross Real Estate Tax would increase by 11~19%. Effective rate of property tax including Property Tax and Gross Real Estate Tax is estimated to increase to 0.23~0.31% from the current level of 0.18%.
KW - property tax;Publicly Noticed Value of Real Estate Price(PNV);actual sales price;the ratio of PNV to actual sales price;simulation analysis
DO -
UR -
ER -
Park, Joon, Jaehwan Kim and Bae,Yu-Jin. (2015). An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax. Korea Real Estate Review, 25(3), 27-39.
Park, Joon, Jaehwan Kim and Bae,Yu-Jin. 2015, "An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax", Korea Real Estate Review, vol.25, no.3 pp.27-39.
Park, Joon, Jaehwan Kim, Bae,Yu-Jin "An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax" Korea Real Estate Review 25.3 pp.27-39 (2015) : 27.
Park, Joon, Jaehwan Kim, Bae,Yu-Jin. An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax. 2015; 25(3), 27-39.
Park, Joon, Jaehwan Kim and Bae,Yu-Jin. "An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax" Korea Real Estate Review 25, no.3 (2015) : 27-39.
Park, Joon; Jaehwan Kim; Bae,Yu-Jin. An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax. Korea Real Estate Review, 25(3), 27-39.
Park, Joon; Jaehwan Kim; Bae,Yu-Jin. An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax. Korea Real Estate Review. 2015; 25(3) 27-39.
Park, Joon, Jaehwan Kim, Bae,Yu-Jin. An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax. 2015; 25(3), 27-39.
Park, Joon, Jaehwan Kim and Bae,Yu-Jin. "An Analysis on the Changes in Publicly Noticed Value ofReal Estate Price (PNV) on Household’s Property Tax" Korea Real Estate Review 25, no.3 (2015) : 27-39.
