Kim: The government is imposing more taxes for multiple home owners. — AP
SEOUL: South Korea laid out plans to impose tougher taxes on property ownership to rein in owners of expensive homes blamed for stoking a speculative housing bubble in the main regions across the nation.
The proposed 0.5% to 2% ownership tax that would kick in on properties valued over 600 million won (US$534,506.87) will be raised to 0.5% to 3.2%, a government statement showed.
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