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Gov't targets high-value, non-owner-occupied homes in tax overhaul
Finance Minister Koo Yun-cheol speaks during a pre-briefing on the details of the 2026 tax reform plans at Government Complex Sejong, Thursday. Courtesy of Ministry of Finance and Economy
The government will significantly raise taxes on high-value homes not occupied by their owners by scaling back tax benefits for such properties, in what it calls a bid to promote greater fairness based on ownership and residency status, the finance ministry said Monday.
The move is part of President Lee Jae Myung’s efforts to normalize the housing market, stabilize home prices and support "genuine" homebuyers.
The government also plans to overhaul the tax system with a focus on fostering new growth engines, promoting balanced regional development and supporting low- and middle-income households.
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