Study On The External Effect Of Quasi-public Goods In Urban, Taxes Compensation By Beneficiary And Local Fiscal Transition

In view of the external effect's difficult compensation of urban quasi-public goods leading to inadequate supply, exploring benefit residents'compensation of taxes and the sustainable transformation of local "land finance" to "public finance", is of great theoretical and practical significance.Urban quasi-public goods have the characters of crowded, limited non-competitive or non-exclusive, external and so on, and its externality which reflects effection of economic and social benefits, acts on the community and the public by the diffusion of radiation, effects. Such as urban mass transit results in the real estate along. As it is difficult to judge urban quasi-public goods'consumption preference and information asymmetry between the main supply and the residents, its positive externality often can't achieve effective compensation. Property tax not only make the benefit residents who enjoy the externality of urban quasi-public goods'compensate investment in it, but also for open up a stable revenue source for the local government to, boost urban quasi-public goods supply capacity and promote the sustainable Local Fiscal Transition.First, based on the defines of the related concepts and content of urban quasi-public goods, systematically analyze its externality and the result of the local governments under-investment, explain the actuality and necessity of China's current government-led supply model of urban quasi-public goods , namely either considering from technical factors or institutional factors , urban quasi-public goods'(such as urban mass transit etc.) technology-intensive, capital-intensive characteristics and system factors, are making it can't really introduce to the market mechanisms in the short term to achieve multi-main bodies providing, thus resulted in urban quasi-public goods input should be government financial input-oriented in the present period .Second, based on the review of urban quasi-public goods theory development and specific practice patterns, detailedly analyzed mass transit's external Effect as a emblematical quasi-public goods, seek its function relationship with the asset value by establishing investment compensation mechanisms which suit to urban quasi-public goods, truly manifest its positive externality for beneficial residents by the way of the assets value appreciation and offer premise of the urban quasi-public goods'investment compensation mechanisms. Based on this, widened the Pigou model and the Tiebout model in an innovative way, and described the feasibility and reality of the way that by benefit residents'tax to compensate urban quasi-public goods'externality. That the city government provides effective urban quasi-public goods, to produce the inspirement of people to achieve their maximum effect and be willing to provide partial compensation, and under the Tiebout model, the people having two identities according to their preference "vote with their feet" in options to achieve "self- stratification" .Furthermore, based on in-depth analyzed government revenue, government cost, and taxpayers cost and benefit of property tax, estimated property tax rate theory range, that the theoretical premise of property tax design should be as much as possible to ensure government's fiscal revenue, while not bring too heavy tax burden to ensure social and economic stable development. According to this idea, we obtain the formula of property tax rate theory range and by collecting relevant property tax practice data at home and abroad, combined with our practical, innovatively based on virtual real estate taxes, simulately analyzed of China range estimation of the property tax rate and proposed that tax reform based on levying property tax should take gradual reform model.Finally, based on the sustainability analysis of current local financial revenue model, that over-reliance on land transfer, interpreted the property tax on local revenue model transformation mechanism and its income structural transformation effection. Property tax levy could greatly ease the financial pressure on local governments, make local governments match the income and expenditure and provide long-term incentives. Based on this, this paper constructed the injection of the return of the financial mechanism under the property tax capital gains income, demonstrated that we could form a value-added benefits, use of loop mode through the design of the system.In summary, this paper uses urban quasi-public goods external effects as a starting to investigate the compensation mechanism as well as local financial restructuring as the goal and levy property tax as the means, and to form the logic theoretical analysis of urban quasi-public goods external effect in compelling residents compensation by taxes, achieving local fiscal transition mode, and ensuring the effective supply of urban quasi-public goods. And then we do the innovative research, based on the population stratification perspective of residents'tax compensation mechanism and the tax Reform structure, leading to the conclusions and results can provide a theoretical reference for domestic to levy property tax and also contribute to the academia for the further study.