Seoul owners of a single home who do not live in it face rising holding-tax and rental-income costs as home prices and monthly rents climb. President Lee Jae-myung has criticized tax benefits for owners who hold homes without occupying them, while the government plans to raise the fair market value ratio used for comprehensive real estate tax to 70% from 60% next year. If a proposed tax bill passes, the annual tax for a non-occupant single-homeowner with a property assessed at 2 billion won would increase to 2.774 million won from 2.275 million won. Rental-income tax rises sharply with monthly rent: a Shinhan Premier Pathfinder simulation estimated 2,084,940 won annually at 3 million won in rent, 3.32 million won at 4 million won and 4.56 million won at 5 million won. The 1.2 billion-won assessed-value threshold remains under debate, with Rep. Cho Eun-hee proposing 1.5 billion won, while experts warn that higher taxes could be passed to tenants, reduce rental supply and have limited price-stabilization effects in Seoul. Existing rules also expose more homes to rental-income taxation: Seoul apartments valued above 1.2 billion won rose to 414,896 units this year from 280,365 last year.