실거래가를 활용한 개별공시지가의 형평성 분석연구

Analysis on the Equity of Publicly Announced Individual Land Price by Comparing Sales Price

The Publicly Announced Price (PAP) of individual land, introduced in 1989 and assessed by local governments every year, has been used as a criterion for levying land taxes, including property tax and capital gains tax. There have been arguments about whether the PAP of land is reliable and appropriate to represent the market prices. The arguments become even hotter since 2006 when the government introduced the real price report system in real estate transaction. Tax equity, both horizontal and vertical equity, means the similar amount of tax shall be levied being proportioned to the similar value of property. This study is to identify whether there exists the equity among land tax bases, that is PAP of individual land. Effective 1,168 parcels of land was selected from Bupyung-gu, Incheon City, which were traded during the years of 2011 and 2012. It compares the difference between the PAP of individual land and the reported transaction prices. To analyze both the horizontal and vertical equity of each 8 local counties(dong) and value level, it uses the ratio analysis method and regression analysis. The findings can be summarized as follows; there exists vertical inequity in most local counties and land value levels. It implies land taxes were rather degressive. There also exists horizontal inequity, implying tax burdens do not proportionally allocated to similar land conditions. The findings suggest that improving the PAP of land system is necessary to enhance both the vertical and horizontal equity.