The Impact Of Property Tax Reform On Real Estate

Since the second half of the year, the government's top officials have been making constant progress, so that the public is expected to heat up the expansion of the real estate tax reform. It is also reported that the second round of real estate tax technical training for relevant departments is about to be organized. These messages indicate that the expansion of property tax is expected to take substantial steps.

"Property tax pilot expansion of the surrounding signs are increasingly evident. The two links of public opinion and technology should be grasps together. Property tax Two major breakthroughs in pilot projects. Yan Yuejin, a researcher at Shanghai Yi Ju Real Estate Research Institute, said in an interview with reporters that from the perspective of public opinion, the state held a cautious and exploratory breakout attitude on the property tax pilot. The market evaluation can be obtained by testing the market reaction, and further improve the next pilot preparation work. From a technical point of view, the current housing tax collection and other technical work is gradually developing. Coupled with the pilot projects in Shanghai and Chongqing, the technological strength has gradually matured.

Xiaobian estimates that the expansion of the real estate tax pilot will have two characteristics. First of all, the pilot cities will be dominated by typical cities and characterized by small-scale demonstration tests. Secondly, a typical second tier city will become the pilot object, and provincial capitals may also be included in the pilot area.

For the current real estate market, the real estate tax carries a lot of expectations. In terms of technology, it also depends on the disclosure of real estate information and the national housing information networking. The more crucial step is to break the obstruction of vested interests. Since last year, after "housing elder sister" and "Fang Shu" have been exposed, some areas have tightened the standard of housing information inquiry, and strictly prohibited people rounds. From these signs, the promotion of real estate information disclosure will not be smooth sailing.

The real estate tax is the focus of attention, one is how to expand the surrounding area, and the other is whether the stock should be levied. In the pilot, Shanghai only levies increments. Although Chongqing has put some of its stock in the scope of levy, the tax rate and intensity are "gentle". As we all know, because of the rigidity of land supply, the rise of housing prices is actually an imbalance of resource allocation and an extrusion of the living needs of the middle and low income groups. After adjusting the game into a new stage, we must make an effort to revitalize the stock market so as to fundamentally solve the housing problem. Resource allocation The problem of imbalance will result in the maximum coverage of residential demand in limited land.

At the same time, because of long-term malpractice, it is difficult to adjust the real estate market solely by external forces such as administrative high pressure. We must fundamentally realize the market function and the transformation of operational mechanism. After the introduction of the tax restriction, the mechanism of marketization and legalization is formed based on the adjustment of economic interests, so as to eliminate the speculative atmosphere of the market and promote a large number of vacant houses into the market. According to the disclosure, "housing sister" has 41 housing in Beijing, a total of 9666 square meters. People who can not afford housing can not be disappointed, but also from another point of view, the vacancy rate in the property market is cloudy. If this part of stock resources can be used effectively, it will surely alleviate the pressure of housing supply to a large extent. {page_break}

Therefore, Yan Yuejin believes that the significance of expanding the property tax pilot is that, as an important part of the long-term mechanism of the property market regulation, the real estate tax pilot has changed the color of administrative pressure in the past, reflecting the new direction of the property market regulation in the future. Based on the basic functions of tax revenue adjustment, property tax will effectively combat speculative forces and stabilize market expectations, thereby changing the current pattern of interest distribution among the participants in the property market. In addition, the introduction of property tax will help to improve the structure of local fiscal revenue and expenditure, and change the structure of government revenue and expenditure in the past to make a living. Finance and taxation reform Building a local tax system and optimizing residents' income distribution and property allocation will have a positive effect. Some local governments urgently need the introduction of this kind of tax so as to achieve the goal of increasing revenue and reducing expenditure.

If there is a lack of tax burden in the Housing Preservation link, some places will only be able to find land finance in the land leasing section, which will encourage the 70 year property rights land transfer fee to end. Therefore, in the land transaction, there are short-term goals and actions, which have seriously restricted the regulation of real estate, and the land finance is not sustainable. With the real estate tax, it can not only enrich the local financial resources, but also urge local governments to develop the regional economy and optimize the investment environment in order to get a new tax base.

It has been suggested that after the target system of new urbanization is identified in the future, property tax should be synchronized. Because under the concept of urbanization, there is a tendency to pursue land appreciation and build city movement in some places. The reason behind it is undoubtedly the pressure from land finance and local debts. The new urbanization is essentially a systematic project, and there should be corresponding supporting measures in household registration system, land management and local tax system. The real estate tax also involves two categories of real estate regulation and tax reform, and it is necessary to further promote the pilot project.

Pilot projects in Shanghai and Chongqing have gained initial experience, and the market has already anticipated the further expansion. This means that the negative effects of the pilot expansion will be much smaller and the expected results will be achieved.