๐ก Acquisition Tax Calculator
Calculate the acquisition tax payable when purchasing real estate or a vehicle in Korea.
What is Acquisition Tax?
Acquisition tax is a local tax levied when you acquire certain assets such as real estate or vehicles in Korea.
In addition to acquisition tax, local education tax and special rural development tax are added.
Acquisition Tax Rate Summary
| Asset Type | Acq. Tax Rate | Education Tax | Rural Dev. Tax |
|---|---|---|---|
| Apartment/House (1 house) | 1~3% | 0.1~0.3% | 0.2% |
| Apartment/House (2 houses) | 8% | 0.4% | 0.6% |
| Apartment/House (3+ houses) | 12% | 1.2% | 0.4% |
| Land | 4% | 0.4% | 0.2% |
| Vehicle | 7% | 0.7% | โ |
This is an estimate. Actual tax amounts may vary.
Worked Examples
A 500M apartment at 1.1 % carries 5.5M of acquisition tax for a first-time buyer in a regulated area.
A 300M purchase at 3.5 % for a second home in an adjusted area gives 10.5M before local surcharges.
What This Calculation Assumes
Korea applies 1 % for a first home under 600M, 1-3 % for standard homes, 8 % for second homes in adjusted areas and 12 % for third homes, plus a 10 % local surcharge and 0.2 % education tax on the base. Rates for land, officetels and inherited property differ, and the US, France, Germany and Spain use transfer taxes with their own bases.
Frequently Asked Questions
- What is the tax base?
- Usually the actual transaction price, or the officially assessed value when the price is below it. It is not the mortgage amount.
- Is acquisition tax different from property tax?
- Yes. Acquisition tax is paid once when ownership transfers; property tax and comprehensive real estate tax are annual charges on holding.
- Do first-time buyers get a reduction?
- Korea has repeatedly offered reductions for first homes under a threshold, but the rules change with each budget. Confirm the current rate with the local district office.