The Feasibility Study Of Levying Property Tax In China

The real estate is an important pillar industry of our national economy, and how the tax system of the real estate is made plays an important role in the healthy development of the real estate. At present, in China's real estate market, with serious speculation and rapidly-rising housing price, it comes out many real estate bubbles almost everywhere, and common people can even not afford a house. So it becomes a very serious social problem. Such status largely "attributed" to the tax system of real estate which is not in line with international practice badly lagging behind the development of the real estate market. So, the Third Plenary Session of the 16th Party Central Committee referred clearly "Implementing cities and towns build reform of taxation and expenses: Introducing standardized property tax and canceling some taxes and expenses accordingly when conditions are qualified." Based on the feasibility study of the property tax levying, I hope this paper can provide some reference to China's real estate tax reform.The first part of the paper gives a brief introduction of the present real estate market. The second part makes some research on the property tax's basic theory, the history of China's real estate tax revenue and the major taxes concerned. The third part raises the property levy in China through the introduction of foreign real estate tax systems and the analysis of China's current real estate tax problems. Part IV analyzes the impact of levying property tax to the real estate market in view of the land market, the price of real estate and three participants with a specific case. The fifth part is about the conditions analysis, which cites two basic conditions necessary to the property tax levying, and then analyzes the conditions which China has now already and the existing problems. The last part of the paper gives a conclusion - the feasibility of China's property tax levy, and makes some corresponding policy recommendations.