A Study on the Effect of Taxation Policy on More Than One Property in China

摘要

With the housing market booming, more than one property ownership becomes increasingly notable when more and more rich urban households buy them for investment and speculative purposes or non commercial purposes. These made house prices in China have been rising at their fastest rate for recent years. Property tax on more than one property can increase the user cost and make the owner own less buy-to-let so that it can decrease the vacancy rate and improve the housing resource allocation. This paper is trying to design a property tax structure which suits current conditions in China and discussing its impact on more than one property. Then the problems in implementing the property taxation policy in China are discussed, such as tax base and tax rate determination, the shortage of appropriate property assessment system and the resistance from the local governments.