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Relook property tax, says report
By Cao Qian |
November 29, 2012, Thursday
|
Print Edition
Print Edition
PROPERTY tax should be levied on the living space allowance of 40 square meters per person, down from 60 square meters now, the Chinese Academy of Social Sciences suggested in its latest report.
China should expand its pilot property tax reforms beyond Shanghai and Chongqing and levy differentiated property tax on homes, said a report titled "Housing Security in the New Urbanization Background," which was issued by the CASS yesterday.
In the long run, economic and market measures should be used to rationalize peoples' living space, the report said.
The urban households' living space averages about 33 square meters per person in China currently.
But Yang Hongxu, deputy director of E-House China Research and Development Institute in Shanghai, said the "cut" would be inappropriate because it would make between 30 and 40 percent of urban households' homes taxable.
China should expand its pilot property tax reforms beyond Shanghai and Chongqing and levy differentiated property tax on homes, said a report titled "Housing Security in the New Urbanization Background," which was issued by the CASS yesterday.
In the long run, economic and market measures should be used to rationalize peoples' living space, the report said.
The urban households' living space averages about 33 square meters per person in China currently.
But Yang Hongxu, deputy director of E-House China Research and Development Institute in Shanghai, said the "cut" would be inappropriate because it would make between 30 and 40 percent of urban households' homes taxable.
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