Property Tax Analysis Of The Legal System

Since the Third Plenary Session of the Sixteenth Central Committee of the Communist Party of China, the issue of levying the property tax has been a topic of ongoing discussion, and as a result, has lent itself to much research in this field. China’s real estate possession tax system is left wanting, with room for improvement in terms of expanding the varieties of tax implemented and also in upgrading of the relevant law regarding tax systems within the realty sector. Implementation of property tax can be utilized to remedy these short falls. Although China’s property tax has been conducted in several pilot provinces for many years, it has not been formally implemented because of various inhibition factors. These factors include the current obscurity of property rights and the requirement for the development of adequate evaluation techniques. At present, many foreign countries have more mature property tax systems. These can be used as a model upon which successful property tax systems can be molded which best suit China’s current situation. In this paper, the differences between the current property tax and comparable taxes, and the necessity for the introduction of property tax were analyzed. The legislation models and the basic system design of property tax in foreign countries are introduced. In addition, a special property tax legislative model, and a integration model including:the cancellation of property tax, land-use tax of cities and towns, land value increment tax, land occupation tax with retaining the deed tax are proposed. Finally, seven elements of China’s property tax and specific tax collection procedures are stated in detail.