“If my property tax bill amounts to 50 million won ($35,300) a year, how much rent should I be charging?” That was the question posed by a homeowner in Korea on a real estate forum following the government’s latest tax overhaul proposal unveiled on Aug. 3. The writer said he owns a single apartment in Seoul’s affluent Seocho District worth around 5 billion won. Under the proposed changes, he estimated that he would have to pay up to 50 million won a year in property holding taxes if he rented it out. “This means 4 million won a month goes straight to the government, and anything above that is what I’d get to keep. Is it really possible for the landlord to shoulder the entire burden of this tax without passing it on to the tenant?” The post captures a growing concern since the Aug. 3 announcement: higher taxes on owners of multiple homes and proprietors of non-owner-occupied properties could ultimately be deflected to tenants as landlords seek to recoup some of the additional cost. There are already signs of such a shift in parts of southern Seoul. At Acro River Park in Seoch