주택거래 활성화를 위한 부동산세제 개선방안

[Purpose]As tax burden in each life cycle of housing transaction has risen rapidly since the launch of incumbent government, the financial distress of homeowners has greatly increased and severe restrictions on their house sale decision making have been placed, which is to be blamed for imparing the rationality of taxation and constraining the normalcy of economic activity. Consequently, real estate taxation should be revised to relieve excessive tax burden in each housing transaction in order to stabilize price and enlarge volume. [Methodology]This study adopts both literature review and economic analysis methodologies. [Findings]Specifically, the tax burden in acquisition and holding periods is to be reduced to weaken the capitalization effect and, as a result, to recover the demand of housing transaction, and the tax burden in disposal period is to be reduced to weaken the lock－in effect and, as a result, to recover the supply of housing transaction. However, as the instability of housing market can be enhanced in case the ease of the lock－in effect is much smaller than that of the capitalization effect, enough supply expansion should be accompanied by the reduction of capital gains tax in housing transaction. [Implications]This study is expected to provide policy implications to contribute to further revisions of tax laws.