An apartment from your parents carries one more tax besides gift tax — acquisition tax assessed at market value
A gifted home carries acquisition tax separately from gift tax, and since 2023 it is assessed on the recognized market value, not the official price. For a ₩600M apartment it is 3.5% plus 0.3% local education tax, ₩22.8M; in a regulated area with an official price of ₩300M or more, the heavy rate of 12% gives ₩74.4M. The gap is ₩51.6M.
Conditions used in the video
- Recognized market value
- ₩600M (market value, not the official price, since 2023)
- Official price
- ₩400M
- Floor area
- 85㎡ or less
- Standard rate
- 3.5% + 0.3% local education tax
- Heavy rate
- regulated area · official price ₩300M or more → 12% + 0.4%
- Filing and payment
- within 60 days of acquisition
Results
- Non-regulated · standard
- ₩22.8M (effective 3.8%)
- Regulated area · official ₩300M or more
- ₩74.4M (12% heavy rate)
- Gap
- ₩51.6M
- One-house household giving to spouse or lineal relative
- exempt from the heavy rate → ₩22.8M
- Over 85㎡
- +0.2% rural special tax
- Basis changed
- recognized market value from 1 January 2023
At a glance
12% heavy rate in a regulated area with official price ₩300M or more; the standard rate with the one-house exception.
- Standard (3.5% + 0.3%)₩22.8M
- Heavy (12% + 0.4%)₩74.4M
Why it works this way
When parents gift an apartment, gift tax is not the end. There is also acquisition tax, and since 2023 it is assessed on the recognized market value rather than the official price. The base of the tax grew for the same home.
Local Tax Act Article 11(1)2 · Article 151.
- Recognized market value₩600M
- Rate3.5% + 0.3% local education tax
- Acquisition tax₩22.8M
Filed and paid within 60 days of acquisition, separately from gift tax.
In a regulated area with an official price of ₩300M or more, the heavy rate of 12% applies. With 0.4% local education tax that is ₩74.4M, ₩51.6M more than the standard case. But if the giver is a one-house household and the recipient is a spouse or lineal relative, the heavy rate does not apply and it is ₩22.8M.
Local Tax Act Article 13-2(2).
- Heavy rate12% + 0.4% → ₩74.4M
- Exceptionspouse or lineal relative of a one-house household
- With the exception₩22.8M
Homes over 85㎡ add 0.2% rural special tax.
The legal basis
Drawn from government announcements and the statutes themselves as primary sources, covering only the relevant part.
Local Tax Act Article 10-2 (Tax base for gratuitous acquisition)
In force Effective 2023-01-01 (checked 2026-09-05)
The tax base for gratuitous acquisition such as gifts is the recognized market value at the time of acquisition; where none exists, the standard market price.
What this means
The base is the ₩600M market value, not the ₩400M official price. This is why gift acquisition tax grew after 2023.
Local Tax Act Article 11(1)2 · Article 13-2(2) (Gift rate · Heavy rate)
In force Current (checked 2026-09-05)
Gratuitous acquisition: 3.5%. A gifted home in a regulated area with a standard market price of ₩300M or more: 12%, except where a one-house household gifts to a spouse or lineal relative.
What this means
The same home splits between 3.5% and 12%. The giver's house count sets the recipient's rate.
Local Tax Act Article 20(1) · Rural Special Tax Act Article 5
In force Current (checked 2026-09-05)
File and pay within 60 days of acquisition. Rural special tax of 0.2% on acquisition tax for homes with exclusive area over 85㎡.
What this means
Two months after the gift is the deadline. Larger homes carry an extra 0.2%.
Run it on your own numbers
The calculator opens with these conditions already filled in. Change the figures and your own case comes straight out.
Open the Gifted Property Acquisition Tax
Frequently asked
I paid gift tax. Do I also owe acquisition tax?
Yes. Gift tax is a national tax and acquisition tax a local tax; they are separate. File and pay within 60 days of acquisition.
What is the recognized market value?
A value recognized as market value, such as a comparable sale price, an appraisal or a public auction price. From 1 January 2023 it replaced the official price as the base for gift acquisition tax.
Is there no heavy rate if my parents own one home?
If the giver is a one-house household and the recipient is a spouse or lineal relative, the heavy rate does not apply even in a regulated area; the standard 3.5% applies.
How much more over 85㎡?
Rural special tax of 0.2% is added. On ₩600M that is ₩1.2M.
Results are estimates based on the inputs and on the rules as at the stated date. They may differ from a lender's actual assessment, and the rules change often. Take professional advice before any decision that matters.