Home » Business » Real Estate
Chongqing To Reap US$15m From House Taxes
Source: Xinhua |
May 27, 2011, Friday
|
Print Edition
Print Edition
SOUTHWEST China's Chongqing has ascertained there will be more than 13,000 houses subject to property tax this year, according to the local land resources and house management authorities.
Property taxes on the houses will amount to more than 100 million yuan (US$15.1 million).
The number of taxable houses and the amount of taxes are in line with the city's house sales volume in the first quarter of this year, the local authorities said.
The Chinese government has repeatedly stressed its efforts to cool the runaway property market and adopted various measures to curb rising property prices, including restricting residents in major cities from buying second or third homes, requiring higher down payments for mortgages and instituting new property taxes in Chongqing and Shanghai.
Chongqing began to levy a property tax on private homes on January 28.
In the first quarter of this year, the city saw housing sales of 8.99 million square meters, an increase of 17.4 percent over the same period from last year. The growth rate was 0.7 percentage point lower than the rate from January and February.
Property taxes on the houses will amount to more than 100 million yuan (US$15.1 million).
The number of taxable houses and the amount of taxes are in line with the city's house sales volume in the first quarter of this year, the local authorities said.
The Chinese government has repeatedly stressed its efforts to cool the runaway property market and adopted various measures to curb rising property prices, including restricting residents in major cities from buying second or third homes, requiring higher down payments for mortgages and instituting new property taxes in Chongqing and Shanghai.
Chongqing began to levy a property tax on private homes on January 28.
In the first quarter of this year, the city saw housing sales of 8.99 million square meters, an increase of 17.4 percent over the same period from last year. The growth rate was 0.7 percentage point lower than the rate from January and February.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
