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The estimation of property tax capitalisation in the Korean taxation context

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  • The estimation of property tax capitalisation in the Korean taxation context
  • Kim, Hyung Min; Jang, Kyoung-Seok; Hur, Youn-Kyoung
  • Scientific Research


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Title The estimation of property tax capitalisation in the Korean taxation context
Similar Titles
Material Type Reports
Author(English)

Kim, Hyung Min; Jang, Kyoung-Seok; Hur, Youn-Kyoung

Publisher

[Wuhan]:Scientific Research

Date 2013-12
Journal Title; Vol./Issue Current Urban Studies:Vol. 1(No. 4)
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Holding Scientific Research

Abstract

The difference between public services and property tax rates is capitalised into home values. The aim of this research is to estimate the property tax capitalisation rate under a different taxation context of Korea, using a repeat sales method with short-term data on housing prices and estimated tax payments. In the operation of the property taxation, there is complexity that needs to be considered in the estimation of the property tax capitalisation rate. In this research, 32,101 apartment samples in Seoul are used for the analysis. Given these unique institutional circumstances, as a result of the analysis, the property tax capitalisation rate in Seoul was between 73.7% and 82.8% in the analysis periods.