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A Study on Housing Taxes in the State of California, USA

  • Public Land Law Review
  • Abbr : KPLLR
  • 2021, 95(), pp.253-271
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law
  • Received : July 31, 2021
  • Accepted : August 23, 2021
  • Published : August 25, 2021

Choi, In Ho 1

1남서울대학교

Accredited

ABSTRACT

The purpose of this study is to investigate the housing-related tax system in California, USA, and to suggest directions for improvement of the housing-related tax system in Korea. The temporal scope of the study is limited to the period from 1917 to 2021, when the real estate licensing law was first promulgated in California. The research method utilizes a comparative analysis method of literature data that collects and analyzes legal data and statistical data of the housing-related tax of the state government of California, USA. As a result of the analysis, First, the heavy taxation of housing-related tax needs to be adjusted in consideration of not only the Korea-US FTA friction but also the international level. Second, the 12% acquisition tax due to the donation of 300 million won or more of housing (adjusted area) should be lowered Thirdly, the property tax needs to be adjusted upwards gradually, and the upper limit of the property tax should be stipulated every year. Fourth, if the tax base is 1 billion won or less, the estate tax rate and the gift tax rate should be drastically lowered. In this case, the deduction limit should be raised. Lastly, it is necessary to seek a system such as California's Proposition 13 to prevent excessive heavy taxation and monopoly by the housing-related tax authorities, and to realize justice and democracy in taxation.

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