The Impact Of Real Estate Tax Reform On Local Government’s Financial Revenue

With the rapid development of China’s economy,people’s income level continues to improve,so is the need of housing.This causes the property price to continue to increase,which further accelerates the development of the real estate industry.Meanwhile,China’s local financial revenue is facing difficulties,the debt ratio of the local government is increasing,the gap between the revenue and the general expenditure is increasing,and the financial self-sufficiency rate is much lower than the central level.From Chongqing and Shanghai to the State Council’s official proposal to push forward the property tax reform in2021,the central government has paid more and more attention to it.Can the main property tax be used as local tax? Can it become an important tool to ensure local government revenue?This is the main content of this thesis.This thesis combs the research on the design and function of the real estate tax system at home and abroad from a theoretical point of view,clarifies the concept of the main research object,and introduces the transmission path of the impact of the real estate tax on the real estate market and local government revenue,and believes that the real estate tax can affect the real estate market,local government fiscal revenue and local government fiscal self-sufficiency rate,Then,through the study of the relevant history and current situation of China’s real estate tax,it summarizes the focus of China’s real estate tax at different time points,and then uses the experience of the reform of Shanghai and Chongqing’s retained real estate tax to compare the similarities and differences between Shanghai and Chongqing in the form of comparison,and combines the synthetic control method to empirically study the different performances of Shanghai and Chongqing before and after the reform,It is concluded that the real estate tax reform can theoretically change the local fiscal revenue and the local fiscal self-sufficiency rate to a certain extent,but there are regional differences,and the scheme design needs to be further improved.Based on the analysis of the current situation in Shanghai and Chongqing and the empirical conclusions,it is targeted to put forward the principles of the real estate tax reform plan for the full interview point,as well as the scope of tax collection,tax payer,tax basis,tax rate setting,tax exemption scope Suggestions for the improvement of the design of seven specific elements of tax system integration and tax collection and management.