Analysis of tax assessment by assembly and property development activities in fragmented urban lands – Gwangjin District, Seoul, South Korea

Please use this identifier to cite or link to this item: http://hdl.handle.net/10045/137558
Información del item - Informació de l'item - Item information
Title: Analysis of tax assessment by assembly and property development activities in fragmented urban lands – Gwangjin District, Seoul, South Korea
Authors: Shin, Seungwoo | Lee, Yeonjae | Taltavull de La Paz, Paloma
Research Group/s: Economía de la Vivienda y Sector Inmobiliario (ECOVISI)
Center, Department or Service: Universidad de Alicante. Departamento de Análisis Económico Aplicado
Keywords: Fragmentation | Land assembly | Property development | Zoning | Panel analysis | Policy incentives
Issue Date: 26-Sep-2023
Publisher: Vilnius Gediminas Technical University
Citation: International Journal of Strategic Property Management. 2023, 27(3): 202-217. https://doi.org/10.3846/ijspm.2023.19889
Abstract: Due to the land readjustment project in Gwangjin District, Seoul, Korea, in the 1970s, Gwangjin was characterized as a single-family residential area for individual households. Over the following 40 years, the land-use situation changed dramatically, and ironically, there is now a too-fragmented residential area and very insufficient commercial areas. We employed a balanced panel data analysis. The data for this study were 24,177 parcel tax assessments and land assembly, split, zoning change, and property development activities over nine years from 2011 to 2019. We found that de facto land assembly would affect the tax assessment by delaying it a year more than it is when the development is approved, while formal land assembly did not. Development activity itself increased the assessment for that year only. Finally, formal land assembly in the commercial zone increased the assessment only for the following year, while property development in the residential zone increased the assessment for that year only. We recommend that the government provide land-assembly-friendly policy incentives to allow for much larger property developments in both residential and commercial zones. The research on land and property development activities’ impact on tax assessment can provide a reasonable basis for the government’s tax assessment institution building.
Sponsor: This work was supported by the Konkuk University under Grant in 2022.
URI: http://hdl.handle.net/10045/137558
ISSN: 1648-715X (Print) | 1648-9179 (Online)
DOI: 10.3846/ijspm.2023.19889
Language: eng
Type: info:eu-repo/semantics/article
Rights: © 2023 The Author(s). Published by Vilnius Gediminas Technical University. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Peer Review: si
Publisher version: https://doi.org/10.3846/ijspm.2023.19889
Appears in Collections:INV - ECOVISI - Artículos de Revistas

Files in This Item:
Files in This Item:
File Description SizeFormat 
ThumbnailShin_etal_2023_IntJStrategicPropertyManag.pdf785,95 kBAdobe PDFOpen Preview


This item is licensed under a Creative Commons License Creative Commons