국세청 부동산 평가심의위원회 감정평가 개선방안

In Korea, the valuation of inherited and gifted property is, in principle, based on fair market value. When acquisition prices in compulsory purchase, auction prices, or appraised values are available, such values must be used; if not, statutory supplementary valuation methods apply. As a result, the determination of “fair market value”—the price generally recognized as formed through voluntary transactions among unspecified parties—can lead to significant differences in tax liability. Since 2020, however, the National Tax Service (NTS) has increasingly relied on appraisal values reviewed by the Valuation Review Committee to ensure fair and objective assessments of inherited and gifted property. In practice, this approach has resulted in the Committee’s appraised values being applied preferentially, even in cases where it is difficult to determine market value, thereby raising issues regarding the proper hierarchy of legal valuation methods under Articles 61 through 65 of the Inheritance and Gift Tax Act. The expansion of appraisal-based valuation through the NTS Valuation Review Committee effectively compels taxpayers—who bear the obligation to file tax bases and tax amounts when no comparable market data exist—to obtain valuations from designated appraisal institutions. This requirement also increases both the administrative costs of the tax authority and taxpayers’ compliance costs. However, if the NTS were to utilize comparable transaction data for similar assets collected through its administrative information infrastructure, apply the comparable sales approach by determining adjusted benchmark values, and then confirm such valuations through Committee review, taxpayers would be able to fulfill their obligations more equitably. Furthermore, improving the appraisal methodology in this manner would significantly reduce administrative assessment costs and taxpayers’ compliance burden.