A Predictive Research On The Impact Of Residential Demand By Property Tax In Xi’an

The experience of property tax levied in foreign countries shows that there will be a significant impact on the demand of real estate based on the increasing cost of holding real estate.As for that,it will be beneficial to each subject in the real estate market to grasp the impact of property tax more accurately if a predictive analysis will be made on the impact of property tax before levied.In the article,the property tax related theory and the development at home and abroad were summarized by reading the related literatures at home and abroad on housing demand affects by property tax.And then the necessities of levying property tax were proposed in the view of questions to the real estate tax system at present.After that an analysis was made on the impact of the property tax from both theoretical and empirical.In the theoretical study, the influence factors of housing demand were analyzed firstly.Then the process of property tax affected the real estate market by the effect in the real estate market supply and demand was discussed.Based on that,the demand was divided into four kinds (owner-occupied demand, improvement demand, investment demand and speculative demand) for the different purchasing purposes and were analyzed separately.In the empirical study,nine variables including the property tax rates as explanatory variables and residents demand of the housing as explained variable were selected to build a multiple linear regression model according to the characteristic demand of the Xi’an real estate market.And the data acquisition is from the questionnaire and be made analysis by descriptive statistical analysis and multiple linear regression analysis.The results show that the property tax does have a significant impact on demand of housing, and with the property tax rate increased the demand for residential housing gradually decreased.In addition, the trend of the influence by property tax for the different types of purpose and general requirements are the same, but the affection degree is slightly different.Lastly on the basis of the conclusion,a few suggestions on the property tax have been given, they are hoped to play positive roles in the property tax levying.At present,there are many problems in our realestate market, it will be in favor of the real estate market for us to levy property tax timely.It will be my glad if this article can be provide a data support for the property tax system design and implementation,meanwhile be provided with reference value analysis and suggestions to each main body.