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China’s long awaited property tax appears to be delayed… again

June 21, 2017 Comments (None)

It may not seem like it from our perspective in the US but many nations do not have, or are trying to implement a property tax. There are certainly number of structural and policy concerns to consider when implementing a new property tax, including the need to determine market value for all of the taxable properties. But sometimes a larger concern for politicians implementing a property tax where there was none previously is the calming effect it can have on the real estate market. This can be a good thing in Cities like Shenzhen, Beijing, and Shanghai where property has has a higher price to income ratio than New York City, but policy makers are reluctant to burst the real estate bubble. Read More here