Download or read book Will Property Tax Reform Affect House Price in China written by Chun Shan and published by . This book was released on 2015 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Property Tax in China written by Yilin Hou and published by Springer. This book was released on 2014-11-20 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph offers a detailed analysis of the creation, pilot implementation, and possible wide adoption of the real property tax at the local level in China. Starting in 2003, as China’s economy gradually recovered from the Asian financial crisis that started in 1998, the real property market entered a period of rapid expansion, followed immediately by rampant speculation, rising housing costs, and official corruption. Over the last ten years, the price of real property in most cities has more than tripled, especially in metropolitan areas. In an effort to curb this, the government has instituted a number of property-market controls, including property tax pilot programs in Shanghai and Chongqing. While this is the latest of a number of fiscal reforms, it is a very important one that carries with it the ability to change the landscape of public finance, intergovernmental relations, and local governance in China. It represents a fundamental change in the provision of public services, the relationship between local governments and tax payers, and the status of localities in the government structure. Taking a public choice perspective, the authors argue that the local property tax should be used not solely as a means of controlling housing prices but should be fully employed as a fiscal and budgetary institution that will contribute to mitigating multifarious socio-economic problems resulting from economic growth, rapid urbanization, and widening income disparity. As this program is the first of its kind, so this book is the first detailed study of property tax in China; as such, it will appeal to researchers of public finance and public policy. It will also be of great interest to policymakers in China and in other countries that are considering adopting or reforming their versions of the local property tax. It fills the gap in a growing body of literature about the inner workings of Chinese economics and policy.

Download or read book Property Tax in Urban China written by Dan Li and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines China's urban housing sector and proposes that property tax reform be undertaken. Specifically, China should significantly reduce taxes on transactions and introduce property taxes during the possession of houses. This will increase housing affordability as a result of lower transaction costs, reduce speculation because of the higher opportunity cost of holding vacant houses, stabilize the fiscal system by generating more sustainable tax revenue, and improve the efficiency and fairness of the property tax system according to the principles of ability-to-pay and user pays.

Download or read book OECD Fiscal Federalism Studies Making Property Tax Reform Happen in China A Review of Property Tax Design and Reform Experiences in OECD Countries written by OECD and published by OECD Publishing. This book was released on 2021-11-30 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report looks at crucial elements of reforms to growth-friendly recurrent taxes on immovable property. Tax design practices in place in OECD and partner countries are compared and analysed through the lenses of economic theory and empirical analysis.

Download or read book China s Housing Reform and Outcomes written by Joyce Yanyun Man and published by Lincoln Inst of Land Policy. This book was released on 2011 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This in-depth volume explains China's residential construction boom and reviews how some established trends are likely to challenge its housing market in coming years. It draws on household surveys and public data in China and provides important lessons about housing policy for China and other countries.

Download or read book Development Governance and Real Property Tax in China written by Yilin Hou and published by Springer. This book was released on 2018-09-10 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an analysis of China in its muddling through of financial reforms towards adopting a local real property tax. The research is designed to serve dual purposes. First, it is an effort to provide an independent perspective on an urgent public policy under consideration by the Chinese government and to reflect upon this policy’s process, which started over a dozen years ago yet is still in the fermenting stage with no sight of fruition. Additionally, this project is intended to share China’s experience with other developing and transitional countries, so they can discern the difficulties China has faced and understand what may entangle them in the modernization of their taxation systems.

Download or read book Are House Prices Rising Too Fast in China written by Mr.Ashvin Ahuja and published by International Monetary Fund. This book was released on 2010-12-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals. However, there are signs of overvaluation in some cities’ mass-market and luxury segments. Unlike advanced economies before 2007-8, prices have tended to correct frequently in China.Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have,a structural driver.

Download or read book Study of Rates in Hong Kong written by Rong Tang and published by . This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Study of Rates in Hong Kong: Implications for the Mainland Property Tax Reform" by Rong, Tang, 唐荣, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Enlightened by the theory of Tiebout and Hamilton about property tax as a benefit tax and the new view reformulated by George R. Zodrow and Peter Mieszkowski, this dissertation seeks to study the capitalization and regressivity of Government Rates in Hong Kong, which have already existed for 165 years in the city and are equivalent to property tax mentioned in western literature. Since both Hong Kong and Mainland China share the same structure of land lease system, it is meaningful to study the implications of Rates in the property market in Hong Kong at the juncture of a new wave of property tax reform in China commencing with the latest property tax experiment in two major cities: Chongqing and Shanghai. This dissertation first reviews the history and describes the roles of Government Rates in the financial revenue and expenditure system of the Hong Kong Government to get a clear picture of where Rates are from, how they are collected and where they have been spent on. Meanwhile, effects of Rates and public expenditures on local residential property values of different classes during the year 1974-2008 are examine by applying time series of housing price index, percentage of Rates charge, and public expenditure, etc. Furthermore, in order to test whether Hamilton's intra-jurisdictional capitalization exists, transaction data of the year 2000 from EPRC are employed to examine whether low income housing (small units) sells at relatively higher price compared with high income housing (large units) due to the fiscal surplus. The empirical results show no capitalization of Rates but capitalization of public goods exists and the Rates payment is shifted forward into the housing price. We find out that Rates in Hong Kong is not a capital tax, and actually it is a benefit tax and user fee paid for public goods. The last part of the dissertation concludes valuable lessons for the property tax reform in Mainland China. ii 2 DOI: 10.5353/th_b5137966 Subjects: Property tax - China Real property tax - China - Hong Kong

Download or read book The Chinese Real Estate Market written by Junjian Cao and published by Routledge. This book was released on 2015-05-08 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to fully present, analyse and interpret the Chinese real estate market. Dr Junjian Albert Cao examines the Chinese real estate market’s growth trajectory, unique governance and factors affecting values and investment in the context of reforms, rapid economic growth and urbanization. The book provides essential insights into the institutional change surrounding the development of the property market, government intervention at local and national levels, taxes and other regulatory charges, and factors such as market practices, economic changes, government policies and social changes that affect the value of real estate. Furthermore, the book analyses academic and policy debates on issues such as: commercial property investment housing price inflation property rights protection affordable and social housing market practices and regulation environment and sustainability taxation property-led growth and the reliance of local economic growth on the property sector The book offers a comprehensive, in-depth and up-to-date account of the Chinese property market and presents a full assessment of the investment potential of Chinese real estate. It is a must read for students, academics and real estate professionals interested in this fascinating real estate market that has implications for Chinese and the world economies.

Download or read book Tax on Landowners and Tenants Rebel written by Lilac Zihui Zhao and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper studies the change from lump-sum tax to property tax, which serves as a combat to inequality by shifting tax incidence from farmers to landowners, on farmers rebel and social conflicts. Using panel data from 575 counties over 262 years in China, we show that this progressive tax reform exacerbates social unrest in counties that have more arable land. We find that: first, the tax reform increases food price with incidence levied on consumers; second, conflicts only increase in wheat-planting (less labor intensive) regions while rice regions have no effects, indicating that the inelastic labor supply exacerbates tax burden on landless farmers and leads to social unrests; third, we find that the reform leads to slower economic growth proxied by population; last, the elimination of lump-sum tax reduces monitoring activities on residence restrictions and indirectly encourages business activities and secret associations. Our paper highlights the unintended consequences of tax reform that aims at combating inequality on social conflicts.

Download or read book Housing Reform and China s Real Estate Industry written by Pengfei Ni and published by Springer Nature. This book was released on 2020-02-22 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of China’s housing system and real-estate industry .The author weaves together the different elements of the real estate industry into a logically coherent whole, in which the relationship between the real-estate industry and the macroeconomy sets the background, the housing market forms the core, real estate finance makes up a necessary condition, public policy provides the guarantee and the housing system the foundation. The book constructs an analytical framework for the development of China’s housing system that considers a comprehensive range of factors, highlights the most important issues, and is soundly structured, logical and clear. By applying this framework, the authors present an overview of the past, present and future of China’s housing industry.

Download or read book The Chinese Real Estate Market written by Junjian Albert Cao and published by Routledge. This book was released on 2015-05-08 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to fully present, analyse and interpret the Chinese real estate market. Dr Junjian Albert Cao examines the Chinese real estate market’s growth trajectory, unique governance and factors affecting values and investment in the context of reforms, rapid economic growth and urbanization. The book provides essential insights into the institutional change surrounding the development of the property market, government intervention at local and national levels, taxes and other regulatory charges, and factors such as market practices, economic changes, government policies and social changes that affect the value of real estate. Furthermore, the book analyses academic and policy debates on issues such as: commercial property investment housing price inflation property rights protection affordable and social housing market practices and regulation environment and sustainability taxation property-led growth and the reliance of local economic growth on the property sector The book offers a comprehensive, in-depth and up-to-date account of the Chinese property market and presents a full assessment of the investment potential of Chinese real estate. It is a must read for students, academics and real estate professionals interested in this fascinating real estate market that has implications for Chinese and the world economies.

Download or read book Property Tax Pilot in Shanghai and Chongqing written by YiYang Wan and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to examine the effect of property taxes on selling prices in China's real estate market. I collect the data in China's 35 major cities before and after the property tax has been implemented, and estimate the effects of property taxes using the Differences-in-Differences method. I find that the effect of property taxes in Shanghai and Chongqing does not lead to lower house prices in these two cities.

Download or read book NBER Macroeconomics Annual 2015 written by Martin Eichenbaum and published by University of Chicago Press. This book was released on 2016-06-22 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: This year, the NBER Macroeconomics Annual celebrates its thirtieth volume. The first two papers examine China’s macroeconomic development. “Trends and Cycles in China's Macroeconomy” by Chun Chang, Kaiji Chen, Daniel F. Waggoner, and Tao Zha outlines the key characteristics of growth and business cycles in China. “Demystifying the Chinese Housing Boom” by Hanming Fang, Quanlin Gu, Wei Xiong, and Li-An Zhou constructs a new house price index, showing that Chinese house prices have grown by ten percent per year over the past decade. The third paper, “External and Public Debt Crises” by Cristina Arellano, Andrew Atkeson, and Mark Wright, asks why there appear to be large differences across countries and subnational jurisdictions in the effect of rising public debts on economic outcomes. The fourth, “Networks and the Macroeconomy: An Empirical Exploration” by Daron Acemoglu, Ufuk Akcigit, and William Kerr, explains how the network structure of the US economy propagates the effect of gross output productivity shocks across upstream and downstream sectors. The fifth and sixth papers investigate the usefulness of surveys of household’s beliefs for understanding economic phenomena. “Expectations and Investment,” by Nicola Gennaioli, Yueran Ma, and Andrei Shleifer, demonstrates that a chief financial officer's expectations of a firm's future earnings growth is related to both the planned and actual future investment of that firm. “Declining Desire to Work and Downward Trends in Unemployment and Participation” by Regis Barnichon and Andrew Figura shows that an increasing number of prime-age Americans who are not in the labor force report no desire to work and that this decline accelerated during the second half of the 1990s.

Download or read book Property Tax Reform Implications for Housing Prices and Economic Productivity written by Jason Nassios and published by . This book was released on 2022-06-09 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia has high housing prices by world standards. Australian state and local governments also have a high reliance on a variety of property taxes. This has generated calls for state tax reform. However, with property prices high, a concern of policy makers is that property tax reform might push house prices higher still. We investigate the effects of seventeen property tax reform options, with a particular focus on potential trade-offs between efficiency benefits and house price impacts.

Download or read book Assessing China s Residential Real Estate Market written by Ding Ding and published by International Monetary Fund. This book was released on 2017-11-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s real estate market rebounded sharply after a temporary slowdown in 2014-2015. This paper uses city-level data to estimate the range of house price overvaluation across city-tiers and assesses the main risks of a sharp housing market slowdown. If house prices rise further beyond “fundamental” levels and the bubble expands to smaller cities, it would increase the likelihood and costs of a sharp correction, which would weaken growth, undermine financial stability, reduce local government spending room, and spur capital outflows. Empirical analysis suggests that the increasing intensity of macroprudential policies tailored to local conditions is appropriate. The government should expand its toolkit to include additional macroprudential measures and push forward reforms to address the fundamental imbalances in the residential housing market.

Download or read book Real Estate Taxes and Fees written by John E. Anderson and published by . This book was released on 2014 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate taxes and fees affect land markets and housing development patterns in significant ways affecting the timing of real estate development, spatial patterns of land development, and the capital intensity of development. This paper examines the economic impacts of real estate taxes and fees in a dynamic framework, with special application to proposed reforms in China. Impacts identified are also relevant for real estate tax and fee reforms more generally in developing countries whose institutional real estate regimes are in transition.