Suwon City to Accept Applications for 2016 Housing Price Assessment Review and Feedback

Suwon City has calculated 2016 housing prices and will accept applications for review and feedback from the 15th of this month through the 4th of next month.

Housing prices were calculated based on January 1, 2016, including land and buildings, and will be used as the basis for national taxes such as comprehensive real estate tax and transfer income tax, as well as local taxes including property tax and acquisition tax.

The review targets include 35,444 single-family homes and 290,405 multi-family units, which can be reviewed at the Tax Affairs Division of each district office where the properties are located.

Multi-family housing prices can also be reviewed on the Ministry of Land, Infrastructure and Transport website (www.molit.go.kr).

Homeowners or interested parties with opinions regarding housing prices can submit their feedback by completing and submitting an opinion submission form available at the review locations.

For housing prices with submitted feedback, certified appraisers will conduct a re-examination. Individual housing prices will undergo review by the Suwon Real Estate Appraisal Committee, while multi-family housing prices will undergo review by the Central Real Estate Appraisal Committee. The results will be notified to those who submitted feedback, and housing prices will be announced on April 29.