Abstract

After Covid－19, the housing market has been experiencing abnormal overheating, and the housing market is facing an abnormal situation, such as a surge in housing prices over the past three years. In the housing market, the market is showing the characteristics of an investment goods market, similar to the Bitcoin market, as housing prices soar, such as the craze of “smart one－house” and the craze of “2030 generation housing gap investment”. The purpose of this study is to investigate the cause of the abnormal situation in the housing market as it is attributed to the tax system. In the comprehensive real estate tax, the strengthening of taxation on multi－house owners and special cases for single－house owners widen the gap between multi－house owners and single－ house owners in the tax burden. In this case, the taxpayer will make an effort to become a single －family house owner to avoid tax. If there is an expectation of increase in house prices, a tax strategy is established to become one house from multiple houses through gift after division of the household as a measure to reduce the tax burden rather than to contemplate the sale of the house. On the other hand, taxpayers who cannot separate their households will find other detour strategies. This method is becoming a single house owner through donations and in－kind investment after incorporation of a corporation. As such, taxpayers take a strategy of dividing a household or owning a house indirectly through a corporation rather than responding to selling a house as the multi－family ownership tax is strengthened. In this study, a regression analysis was conducted to verify the effect of the heavy taxation of comprehensive real estate tax on multi－homed owners on tax avoidance behavior of taxpayers. As a result, it was confirmed that the taxpayer’s strategy to avoid heavy taxation of multi－homed people caused an increase in gift transactions and corporate transactions in the housing market. Therefore, this study verifies incentives for tax avoidance by widening the tax burden gap according to the number of houses, and through this, taxpayers’ active tax avoidance was shown in the housing market. However, this study has limitations that it measured only the short－term response of taxpayers to tax policies, and could not take enough control over various policy effects of the Comprehensive Real Estate Policy.

Keywords

• Multi－household
• reinforcement of real estate holding tax
• the 9.13 policy
• Comprehensive Real Estate Holding Tax
• the policy effects

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