The threshold on the comprehensive real estate tax for single homeowners will be raised from 900 million won to one-point-one billion won to ease the tax burden for more people.

A parliamentary finance committee on Thursday passed the latest revisions to the tax law.

The revision aims to raise the upper limit of additional tax reductions from 300 to 500 million won, on top of the 600-million-won baseline.

The ruling Democratic Party’s(DP) push to only impose the tax on properties in the highest two-percent government-declared price range, however, was scrapped after facing backlash for running counter to the nation's tax system.

The revision bill will be put to a vote at next Wednesday's plenary session.