Triple-Home Owners Face $310,000 Tax Hike After Moratorium Ends

A triple-home owner selling a property in a regulated area for 2 billion won ($1.46 million) after May 9 will owe 682.26 million won in taxes—425.25 million won more than during the moratorium period, according to National Tax Service calculations released Monday.

The NTS unveiled its "capital gains tax surcharge simulation" service ahead of the expiration of the multi-home owner tax moratorium.

Starting May 10, owners of two or more homes in Seoul and eight Gyeonggi Province cities including Gwacheon, Gwangmyeong, and Uiwang will face surcharges of 20 percentage points for two-home owners and 30 percentage points for those with three or more properties when selling homes held for at least two years. The long-term holding special deduction available during the moratorium will also be eliminated.

However, sellers who sign contracts and receive deposits by May 9—verified by documentation—will receive a four-to-six-month extension.

The tax impact is substantial. A two-home owner selling a property acquired for 1 billion won at 2 billion won after 15 years of ownership faces taxes more than doubling depending on timing.

Completing a sale by May 9 triggers a 42% tax rate and 257.01 million won in taxes, reflecting the 30% long-term holding deduction. After the moratorium ends, the rate jumps to 62%, requiring payment of 582.51 million won. For triple-home owners, taxes reach 682.26 million won—70% of capital gains.

The NTS will establish dedicated consultation windows at tax offices in regulated areas and offer counseling through its call center. The agency is also launching a self-diagnosis service on its Hometax and Sontax platforms to help taxpayers determine surcharge applicability.

Taxpayers must file preliminary returns within two months of the month in which the transfer occurs. Payments exceeding 10 million won may be split into two installments.