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Real Estate Tax In Urban China

Author

Listed:
  • SHUNFENG SONG
  • GEORGE S.‐F. CHU
  • RONGQING CAO

Abstract

Since its foundation in 1949, the People's Republic of China (PRC) has adopted several contrasting policies to address the urban housing problem. Among them have been changes in real estate tax law. The first real estate tax laws in the PRC were promulgated in January 1950. Amended several times, they became ineffective after 1973. In September 1986, the State Council promulgated a new real estate tax law affecting all urban properties. According to this new law, real estate taxes are to be levied on owners, so that most real estate taxes have been paid by enterprises rather than households. However, with the recent drive to privatize housing in urban China, property rights are being transferred from public to private ownership, and in conjunction with real estate taxes, this is producing undesired inequalities. This paper investigates the development of real estate taxation, examines the role of property tax in the ongoing housing reform, and recommends changes in real estate taxes that would better achieve the government's egalitarian goals. (JEL H20, R31)

Suggested Citation

  • Shunfeng Song & George S.‐F. Chu & Rongqing Cao, 1999. "Real Estate Tax In Urban China," Contemporary Economic Policy, Western Economic Association International, vol. 17(4), pages 540-551, October.
    • Handle: RePEc:bla:coecpo:v:17:y:1999:i:4:p:540-551
    DOI: 10.1111/j.1465-7287.1999.tb00703.x
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    References listed on IDEAS

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    1. Ling Hin Li, 1997. "The Political Economy of the Privatisation of the Land Market in Shanghai," Urban Studies, Urban Studies Journal Limited, vol. 34(2), pages 321-335, February.
    2. Song, Shunfeng, 1992. "Policy issues involving housing commercialization in the People's Republic of China," Socio-Economic Planning Sciences, Elsevier, vol. 26(3), pages 213-222, July.
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    Cited by:

    1. Ge He, 2013. "Equilibrium-Oriented Housing Supply: A Case Study of Chengdu City, China," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(4), pages 557-568, June.
    2. Dan Li & Shunfeng Song, 2008. "Property Tax in Urban China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 16(4), pages 48-63, July.
    3. Li Tian, 2014. "Property Rights, Land Values and Urban Development," Books, Edward Elgar Publishing, number 15856.
    4. Li, Shiyu & Lin, Shuanglin, 2023. "Housing property tax, economic growth, and intergenerational welfare: The case of China," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 233-251.
    5. Bo-sin Tang & Siu-wai Wong & Sing-cheong Liu, 2011. "Institutions, Property Taxation and Local Government Finance in China," Urban Studies, Urban Studies Journal Limited, vol. 48(5), pages 847-875, April.

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    More about this item

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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