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Lee shares media report on property tax on homeowners comparing foreign cities
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Updated 2 hours ago
First seen March 24, 2026 05:13:45Stay on top of this story
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Quick Summary
President Lee Jae Myung on Tuesday shared a media report on property taxes on homeowners comparing such taxes in other major foreign cities. In a post on social media platform X, Lee raised the question of why property taxes on homeowners are low in South Korea, compared with other major cities in advanced nations. The report showed tax rates of around 1 percent in New York, 1.7 percent in Tokyo and 0.4 to 0.6 percent in Shanghai, while South Korea's effective tax rate stands at about 0.15 perce