Actively And Steadily Promote Property Tax Reform

Exergy

The main obstacle of levying property tax is that our tax collection and management mechanism and property tax collection technology link can not be smoothly butted. It is also difficult to solve the problem of levying property tax for residents or families.

It helps to curb speculation, guide and regulate real estate.

Reporter: property tax reform affects people's hearts.

What will be the impact of its launch on real estate prices?

Ba Shu song: we made an empirical study on the effect of the real estate tax reform.

The treatment of the tax base is consistent with the existing property tax caliber, and is also consistent with the classification standards of the current real estate laws. We simulate the scope of property tax collection into two categories: the first is commercial housing (residential, commercial business premises, office buildings), the second is commercial housing (commercial business premises, office buildings).

Suppose that according to the adjustment of the real estate tax, the research results show that the impact coefficient of the real estate tax on commercial housing prices is 0.1018, 0.0818, 0.0618 and 0.0479 from the central, Western and eastern regions respectively. The influence coefficient of commercial housing prices is 0.0512, 0.0271, 0.0187 and 0.0069. respectively.

This negative correlation will have a far-reaching impact on the management behavior of real estate enterprises.

The Levy of property tax on the preservation link will also make the idle land tax in accordance with the assessed property value, which will help developers speed up the land development schedule, optimize the allocation of land resources, curb the speculation in the real estate market, and guide and regulate the healthy operation of the real estate market.

Because of the nature of Taxation, property tax can not be a decisive factor in housing supply and demand. In the long run, the impact of property tax on housing prices is limited.

Levying property tax will not curb the demand of home buyers.

Reporter: whether it is a consumer purchase or an investment purchase, the introduction of property tax will increase the cost of housing. Do you think the property tax reform will ultimately curb consumption and investment demand?

Ba Shu song: we should analyze it concretely.

The Levy of property tax will act on different types of demand subjects through the impact of housing prices.

For homeowner buyers, on the one hand, the development cost may be reduced due to the reduction of tax burden in the development link, thus reducing the cost of pre housing, and the demand for housing will not only be suppressed, but may be stimulated.

For investment and speculators, due to the increase of late cost of ownership will inevitably inhibit the investment motives of speculators and investors. With the increase of the link tax burden, the degree of investment and speculators will gradually increase.

Reporter: is there any realistic basis?

Ba Shu song: in order to obtain basic analysis data, we conducted a questionnaire survey through various channels.

The survey was conducted online and offline. 118 valid questionnaires were collected under the network, and 186 valid questionnaires were collected online, with a total sample of 304.

The age distribution of respondents was mainly between 20 and 50 years old. The proportion of middle-income group reached 63%, and the proportion of housing and non housing was close to 1: 1, and the industry was widely distributed.

Therefore, this questionnaire survey has certain representativeness.

Respondents' expectations for housing price changes under property tax reform are obvious.

The investment decisions of first-time home buyers are less affected by policy changes, while the price elasticity of self occupied demand is relatively small, while the investment decisions of investment buyers are vulnerable to policies.

After the introduction of the real estate tax scheme, how to dispose of investment housing, the respondents who had purchased housing converged on the choice of real estate treatment, and more than 28% of respondents chose to sell all or part of the investment housing.

The impact of property tax levy on macroeconomic operation is very limited.

Reporter: many people believe that the introduction of property tax will increase government revenue, thereby inhibiting consumption, and is not conducive to economic growth. Do you think so?

Ba Shu song: this question is worth discussing.

The introduction of property tax will really affect fiscal revenue, because property tax is an integral part of local fiscal revenue.

However, the size of the real estate tax is determined by the tax base and the real estate tax rate.

Adjusting the existing real estate related taxes and levying property tax will have an impact on the local fiscal revenue. The effect and degree of the impact will be closely related to the existing real estate tax structure, the local real estate market structure and the local fiscal revenue structure. We can not simply think that the Levy of property tax will increase or reduce the local fiscal revenue unilaterally.

Specifically, we must first look at the impact of property tax levy on fiscal expenditure.

The increase of local public expenditure on public facilities such as roads, schools, hospitals and other public facilities is conducive to improving the living environment and causing the local real estate value increase, that is, the externality of real estate.

In addition, the development of local real estate market will affect the scale of local fiscal expenditure.

That is, the development speed of the local real estate market is positively correlated with the local fiscal expenditure.

To a certain extent, the Levy of property tax will reduce the investment and speculative demand of real estate, reduce the activity and development speed of the real estate market, thereby reducing the local public financial expenditure.

Look at the impact of property tax levy on the fiscal revenue and expenditure gap.

The impact of property tax levy on fiscal revenue and expenditure gap is mainly determined by the net effect of the dual effects of fiscal revenue and fiscal expenditure, and the net effect depends on different property tax reform programs.

Therefore, from the point of view of fiscal revenue, according to the calculation of the simulation study, the Levy of property tax has limited impact on the macroeconomic operation.

From the international experience, in the central and local tax sharing system, the real estate tax is generally a pillar tax of the local government.

For the land system is a public ownership country, the introduction of property tax is a kind of occupation tax levied on the acquisition and preservation of the right to use, which is not contradictory to the land property right system. The real estate tax burden is usually lighter than that of the private land ownership system (land and land consolidation tax).

We must be prudent and prudent in promoting the reform of real estate tax.

Reporter: at present, what is the biggest practical obstacle to the introduction of property tax?

Ba Shu song: at present, the main obstacle to the Levy of property tax is that our tax collection and management mechanism and the real estate tax collection technology link can not be smoothly butted, that is, how the local tax bureau can bring the real estate tax up; there is a certain levy technology problem for the residents or families to levy property tax, and it is difficult to solve in a short time.

Generally speaking, the real estate tax is based on the assessment value of real estate. It needs a sound real estate appraisal institution, a scientific assessment standard and a high level of assessment. At the same time, the tax collection and management system needs to be adjusted.

Only in this way can the collection of property tax be scientifically based so as to give full play to the role of property tax collection.

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Reporter: what policy recommendations do you have for our property tax reform?

Ba Shu song: first of all, we must clarify the main purpose of the property tax reform.

It is to improve the real estate tax system, promote the normal development of the real estate industry, and provide a stable tax source for the local government.

The collection of property tax should take the promotion of the normal development of the real estate industry as the primary purpose. The property tax should not be subjected to excessive functions because of the need of real estate or macro-control. At the same time, we should not simply emphasize the promotion of the tax level, but ignore the merger of real estate related taxes and the reasonable reduction and reduction of the tax level.

Secondly, we should clarify the direction of reform and perfect relevant supporting system arrangements so as to create conditions for the introduction of real estate tax.

Thirdly, we should make overall plans, adjust measures to local conditions and decentralization decisions.

Due to the different levels of economic development in different parts of the country, the degree of real estate development is very uneven. On the basis of overall planning, local governments should be given certain powers in specific collection rules and collection and management measures. Local governments should make decisions according to local conditions, decentralization decisions, and formulate specific implementation measures suitable for local conditions.

In short, we must be prudent and prudent in promoting the reform of property tax.