Efficiency Review Of Tax Policy On Real Estate Prices

Since 2005,the prices of housing in China,especially the large and medium-sized cities are increasing quickly.Government made various measures including tax policies,to stabilize the soaring prices.However the result was not satisfactory.This thesis analyzes the influence of tax policy on prices,supply,demand and psychological expectations in the real estate market.Finally the author proposes reform comments.This thesis is divided into four parts:the first part foreword,introdues the research background and significance,reviews the related work.The second part related concepts and theoretical foundations,describes the system of real estate taxation in China,the characteristics of tax regulations,the price transmission mechanism.Then the author expounds theoretical basis from four perspectives:public finance analysis, comparative static analysis in microeconomics,long-term dynamic market analysis and analysis in considering "expected".The third part the impact of tax regulation policies on housing prices,recalls the implementatios of the real estate regulation policies in the past three years,finds the reasons for the rising prices of housing with tax perspectives.Finally discusses the influences of personal income tax,the clearing policy of land-valued tax,and the business tax.In the short time,personal tax and bussiness tax will increase transaction cost and curb speculation demand,but in the long term they wil be transferred to the people who buy the houses.The clearing policy of land-valued tax can speed up the flow of land in the secondary market, lower the profit margins of real estate development enterprises,reduce "land hoarding" and speed up the development cycle.The four part reform proposals and property tax analysis,outlines the problems in China real estate tax system.Then gives reform suggestions to the development stage,holding stage and lease&transfer stage.Lastly the author makes analysis of property tax,which has been put on the reform agenda,from the theory and practice aspects,the author try to explore the influence of property tax on developers,housing prices,the second-hand housing market and the local governments.