Since 2023, a series of adjustments have taken place in the property deed tax policy, which have an important impact on both home buyers and the real estate market. First of all, the new policy has re-set the tax basis of real estate deed tax, which is different from the previous fixed ratio, but introduces the factor of real estate appraisal value, making the tax more fair and reasonable. Secondly, buyers need to pay the property deed tax within 30 days after signing the purchase contract, which puts forward higher requirements for the financial planning of home buyers. Next, we'll dive into the impact of these changes on markets and individuals.
One of the core of the new policy is to adjust the tax basis of property deed tax to better reflect the actual value of the home. Traditionally, the basis of real estate deed tax is mainly based on the value of the purchase contract, which has led to some unreasonable situations, especially when the real estate market is highly volatile. The new policy introduces property appraisal value, which makes property deed tax fairer as it more accurately reflects the actual market value. For home buyers, this means that they will pay taxes according to a more objective standard, avoiding the unfairness caused by the fluctuation of housing in the past.
In addition to the adjustment of the tax calculation basis, the new policy also makes important adjustments to the timing of the payment of real estate deed tax. In the past, buyers usually paid the property deed tax within a certain period of time after the purchase contract was signed, but the new policy stipulates that the buyer needs to pay the property within 30 days after signing the purchase contract. For homebuyers, this change means more pressing financial pressures and higher preparation requirements. Buyers need to prepare funds in a more timely manner to ensure that the property deed tax is paid within the stipulated timeframe. This also reflects the need for faster and more efficient tax collection, which helps to improve the timeliness of tax collection.
For the real estate market, the introduction of new policies will also have a profound impact on the market structure. First of all, the adjustment of the tax basis may form a certain restraining effect on the real estate market** to avoid excessive market speculation. Secondly, the compression of the time to pay the real estate deed tax may lead buyers to choose the time to buy a house more carefully, which will affect the transaction activity of the market. This series of adjustments is expected to make the real estate market more healthy and orderly, and avoid some irrational phenomena that occurred in the past.
Overall, the new real estate deed tax policy in 2023 has made important adjustments in terms of tax calculation basis and payment time, which has brought new impacts to both home buyers and the real estate market. Through a fairer tax basis, home buyers can pay taxes more reasonably, and the time to pay property deed tax is compressed, which puts forward higher requirements for both home buyers and the market. This series of changes is expected to promote the healthy development of the real estate market and make the tax system more scientific and reasonable.
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