In the context of the property market in 2024, with the intensive introduction of regulatory policies and the continuous increase in market rescue efforts, the future trend of the property market has become more and more confusing. The wait-and-see sentiment of home buyers is strong, and the expectation of bearish housing prices is gradually gaining the upper hand, which makes the competitive pressure among real estate companies continue to increase. In order to cope with this pressure, developers have had to adopt a strategy of cutting prices** in order to stand out in the market and attract the attention of home buyers.
However, even in such a market environment, rumors about property tax continue to arouse widespread concern in the community. Real estate tax, which is regarded as the "killer feature" of property market regulation, has been the focus of heated discussions on the timing and specific policy content of its introduction. So, is the property tax really looming? How will it affect the property market?
1. The approach and impact of property tax.
According to many parties, the property tax is expected to be implemented in the next five years. The introduction of this policy will have a far-reaching impact on the property market. First, for families with multiple properties, the imposition of a property tax will significantly increase their cost of ownership and reduce the return on their property investment. This will force property speculators to reconsider their investment strategies and may even choose to sell off excess properties. With the increase in the market, housing prices are expected to gradually return to a more reasonable level.
At the same time, the collection of property tax will also bring considerable revenue to local finances, which is expected to change the current over-reliance on land finance. This will help promote the fiscal transformation of the local government and promote the sustainable development of the economy. In addition, the property tax can also effectively regulate income distribution, narrow the gap between the rich and the poor, and promote the realization of social equity and common prosperity.
2. Exemption area and tax rate setting.
Experts have put forward different suggestions on the scope of property tax collection and the setting of tax rates. Among them, the "exempt area" system proposed by financial expert Zhang Xuetan has attracted much attention. He suggested setting an exemption area of about 40 square meters per person, and adopting a step-by-step tax rate, with the tax rate range controlled at 03%-1.5%. Such a system design can not only ensure that the housing needs of families in need are not affected by property tax, but also effectively regulate investors who own multiple properties.
Take a typical family of three, for example, who can enjoy a total of 120 square meters of exempt area. For the part that exceeds the exempted area, the property tax needs to be paid at the prescribed rate. Such a system design not only reflects fairness, but also has a certain degree of flexibility. At the same time, through the step-by-step tax rate design, the regulation of investors with multiple properties can be further strengthened.
3. Two types of people may encounter ** annoyance.
With the implementation of the property tax, the two types of people may face greater difficulties. First of all, owners who own many properties in third- and fourth-tier cities may experience the dilemma of selling their properties. In third- and fourth-tier cities, due to the dual pressure of population outflow and excess housing resources, the collection of property tax may further exacerbate the situation of surplus. At that time, it may be difficult to find a buyer for the sale at a reduced price, and property owners will face unprecedented pressure.
Secondly, investors who invest in resettlement housing and small property rights may also face difficulties. The title of these two types of properties is unclear and the living conditions are often unsatisfactory. As speculators flee and the market becomes more regulated, this type of property may gradually be marginalized. Investors may face the embarrassing situation of having nowhere to sell their property and no money to return.
4. Conclusions and prospects.
To sum up, the introduction of property tax will have a profound impact on the property market. Through reasonable system design, such as exempt area and tiered tax rate, it can not only ensure that the housing demand of families with rigid needs is not impacted, but also effectively regulate and control property market speculation. However, for investors who own a large number of properties or have invested in non-resettlement and small ownership properties, they may face greater difficulties and challenges. Therefore, in the process of implementing the real estate tax, it is necessary to fully consider the interests of all parties and the market response to ensure the smooth implementation of the policy and the healthy development of the market.