The Property Tax 2.0 will be enforced starting this May (114) and will apply until May 31 (extended to June 2 if it falls on a holiday). This will be the first collection under the new system, which imposes heavier tax burdens on "multiple property owners" and "vacant properties," while providing lower tax rates for "owner-occupied" and "qualified rental" properties. Taxpayers can pay through various methods including in-person at offices, convenience stores, ATMs, credit cards, and electronic payments, so it's crucial to be aware of the payment deadlines.

Main Changes in the New System Include:

• Increased tax burdens for multiple property owners, adopting a nationwide aggregation and progressive tax system with statutory rates raised to 2% to 4.8%.
• A tax rate reduction to 1% for those who only own one primary residence.
• Encouraging the rental of vacant homes with tax reductions for reported rental income.
• Lower tax rates for inherited jointly owned properties at 1.5% to 2.4% instead of the new 2% to 4.8% rates.
• Developers can enjoy reduced tax rates of 2% to 3.6% on unsold properties for two years.

Current payment methods for property tax include in-person payment at the tax collection offices, convenience stores, ATM transfers, credit cards, and mobile payment options, allowing taxpayers to choose the best method. For those who fail to pay on time, a late fee may be imposed, up to a maximum of 10%.