Can property taxes to shake the high prices | MAIN CHINA ...

topic of Origin Since the Minister of Finance Xie told a news conference in the two sessions will be appropriate to expand the scope of the pilot of the real estate tax, property tax ?expansion? topic transferred storm. The pilot of the property taxes in Shanghai, Chongqing has more than a year to curb the high prices achieved some success. As a long-term policy, the real estate tax undoubtedly conducive to the healthy development of the real estate market, long-term property tax reform, its greater significance lies in improving the tax system, the establishment of local pillar of tax sources. What Can property taxes to curb the high prices? The levy of property taxes will increase people burden? The next step to expand the pilot how to promote the In conclusion, on the basis of pilot experience in Shanghai, Chongqing? This column and our experts have suggested.

levy real estate taxes have on the institutional arrangements to create conditions

for real estate tax is not to the pilot, nor is it the real estate tax to curb housing prices have no effect on mature housing market, these have a clear answer. The key question is first to develop a fair and equitable property tax system

the ? Yixianrong

According to reports, the real estate of the central government macro-control policy is steadfast, prices must return to the principle of a reasonable price level, the pilot of the Ministry of Finance for the individual housing real estate tax from Shanghai, Chongqing and other cities to promote. However, the pilot of the real estate tax in Shanghai and Chongqing has more than a year, from the reaction of the market, the impact of these pilot the real estate market to curb the high prices of the role is very limited. Thus, the domestic real estate market in question: the real estate tax to curb high prices? If you do not have much effect, why the government departments will fervor? If you have a role in why the promotion of the domestic real estate tax would be so slow? In particular, why a mature market system of effective real estate tax system in China, but will be acclimatized? What is the current pilot defects in Chongqing and Shanghai? From which improvements and enhancements?

real estate tax is an integral part of modern tax system, the impact on house prices at all should not be underestimated.

In general, in a mature market system, real estate tax, also known as real estate tax, it is a selective property taxes (ie property taxes in a). With other property taxes, the three pillars of the tax structure of a country (as well as the consumption tax, income tax) one. Thus, the real estate tax levy is neither is not imposed, nor levy can play the role but the real estate tax is an integral part of modern tax system.

, real estate tax and land transfer, it is a modern tax system. It is the role of state functions, regulating the unfair distribution of social wealth, and to ensure that the land and attach, the premium reasonable allocation. The land transfer is only China?s state-owned land transaction price. Therefore, the real estate tax is to redistribute the housing wealth to maintain links to narrow the disparity in the distribution of social wealth. The real estate tax levy on the price point can not be underestimated.

to real estate tax on the high prices play a greater inhibition, must meet the basic tax system fair and equitable conditions

In general, the taxation of real estate tax covers only land and housing. When calculating the tax base, real estate mortgage liabilities shall be deducted. And real estate taxes are local taxes in most countries, for the most important part of local government revenue. If the Chinese real estate tax, not only to provide a stable source of revenue for local governments, but also can reduce local government reliance on land finance, thus changing the basis of the current local government sources of revenue.

in accordance with existing national real estate tax every dollar of land and housing had to tax had to be determined according to the government on a regular basis to check the price to calculate the levy set. The purpose of taxation, the government usually every stage will be on the real estate within the jurisdiction to conduct a valuation, after the completion of this work, in each real estate tax have to be calculated to check pricing. Prices are set by this investigation, during the next check pricing, no major incidents have occurred, may not change.

the same time, like personal income tax, real estate tax levied equally certain housing set preferential relief measures. Its preferential relief objects typically include: government agencies held housing; religious, educational, charitable or non-profit organization, owned by the housing;-occupied residential and personal income below a certain level or age higher than a certain standard held by the housing . In other words, the real estate tax levy is not all housing needs of different use of the nature of housing for different income held by residents of the housing, the holder housing, how much different will be taken to be treated differently. In different circumstances, to take not differentiated tax rates. In other words, the real estate tax on the high prices can play a large extent, mainly due to have a fair and equitable real estate tax. If real estate taxes can not meet this basic condition, that of course, to curb housing prices play a role is very limited.

pilot on the Shanghai and Chongqing real estate tax situation, not only the real estate tax rate of only symbolic in nature (such as the Shanghai real estate tax rate of 0.4% -0.6%, Chongqing 0.5% ? 1.2%), and real estate tax rate differential and no relief. The real estate tax rate is too low and the scope of the collection is too small, the total tax revenue received is very limited, making this real estate tax levy impact on housing prices is very limited, not to mention play a role in curbing high prices.

Therefore, the real estate tax, not to the pilot, nor is it the real estate tax to curb high prices have no role in the mature housing market, these have a clear answer. The key question is first to develop a fair and equitable property tax system. If the real estate tax levy is just to scare the housing market speculation rather than their housing speculation speculation beating, and that levy real estate taxes to curb soaring housing prices play a role is very limited.

If you create a fair and equitable property tax system conditions are not ripe, to curb high prices can start with the housing transaction circulation at start

However, to develop a fair and equitable real estate tax system, but also requires a certain basic conditions, First, the detailed registration of real estate data (ie, a housing must have a clear set of files, when it was born, who holds the transaction price is how the change should have a clear record, as the person?s file). Second, real estate valued at cost using the scientific method; is the government?s tax collection capacity. Such as the relationship between the real estate tax base, tax rates and other taxes, tax allocation between central and local governments to establish tax breaks and preferential object, only to create the conditions in these areas, the real estate tax levy to be effective manner, and achieve their targets to be achieved. The current situation, the basic conditions of the domestic real estate tax is still immature, not only do not have a fair and equitable property tax system, there is no now housing a clear contiguous files and housing price assessment agencies and markets. If the real estate tax system is unfair and unreasonable, then the role of this real estate tax is very limited.

In short, in the face of huge real estate bubble, to curb the excessively high prices, the introduction of real estate taxes, of course, is very necessary. It can not only increase government revenue sources, and to regulate the real estate market, fair distribution of income, can reduce real estate speculation, and play an important role to curb high prices. It is also to ensure that the real estate market is an important step of the sustained and steady development. However, the introduction of real estate taxes have on the institutional arrangements to create conditions for the first national housing census, the first to establish a fair and equitable property tax system in the regulations setting. So the real estate tax levy will be able to play a better role. If these conditions are not set up to curb high prices have to start with housing transactions circulation at start, take a severe housing transaction tax and housing transaction tax. Thing and post-limit investment in real estate speculation, the same play no small role to curb the housing market price is too high.

(of the Department of Chinese Academy of Social Sciences researcher)

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