단독주택가격 토지·건물 배분비율을 활용한 공시지가 현실화율 제고방안 연구

Abstract

The main goals of this study is to suggest a way to readjust the Publicly Notified Land Prices, a component ratio of land and building, to reduce a huge gap between the Publicly Notified Land Prices and real transaction land prices. The Publicly Notified Land Prices can be readjusted through real transaction land prices, but the cases of land transactions are very insufficient. Thus, this study attempts to generate real transaction land prices by dividing the real transaction prices of single-family houses based on the component ratio of land and building in single-family housing prices. To estimate the component ration of land and building in single-family housing prices in a reasonable way, two research questions are addressed: (1) how a single-family housing price can be divided into two separate parts, land price and building price, and (2) whether the derived component ratio of land price and buildingprice can be generalized? To answer the research questions, first, 2014 Publicly Notified Prices of Single-Family Houses are analysed using the Residual Capitalization Approach and the Pro Rata Allocation Method; they are methodologies to allocate a property value to land and building based on price determinants. Also, to generalized the results derived from each method, they need to go through a verification process. In detail, estimated land price from applying the component ratio to sales price of single-family houses is compared with standard price such as the Publicly Notified Land Prices. The results shows that the Pro Rata Allocation Method is more appropriate to devide the single-family housing prices to land and building, because the divided land price based on the Pro Rata Allocation Method explain the Publicly Notified Land Price better than the Residual Capitalization Approach. In addition, the difference between the estimated land price(the real transaction prices) and the Publicly Notified Land Price can provide information for the readjustment of the Publicly Notified Land Prices, which have important planning implications for accurate property information and equity in taxation.