Research On The Tax Base Valuation Of Property Tax Base On Hedonic Model

Recently, taxation reform is ongoing in China, the tax system has been gradually improved. With the advancement of property tax and other taxes, the tax base assessment is becoming a hot issue in the field of the assessment. In order to realize the amount of property taxes, the property tax assessment has become a key issue to solve the property tax levy. As comparing to foreign country’s, the start of China’s asset evaluation is later, while tax base assessment as a partment of the asset assessment is still at the exploratory stage, the foreign tax base assessment theory and practice should be far ahead of China. In other countries, the Mass Appraisal has become the first choice of the tax base assessment. Domestic assessment scholars and practitioners have been gradually introduced foreign mass appraisal system and done related research and practice based on Chinese current situation, but there are some inadequacies due to the subjective and objective reasons. Basing on theory and practice of foreign and domestic research, combined with China’s actual situation, this paper makes the appropriate research about the property tax base assessment theory and methods.Currently, the tax base mass appraisal modeling model mainly based on the principle of three assessment methods (cost method, market method and income method) as the tax base mass appraisal basis. Hedonic Price Model is an econometric method for analyzing product features prices with the aim of separating the contribution of the various features for the housing prices, mainly by using of building Hedonic Price Model to identify and measure the relationship between characteristics of real estate construction, external characteristics and real estate price. Hedonic model price model has many unique advantages compared with traditional methods. This article linked the Hedonic model to the property tax base assessment ,basing on the theory of assessment of the property tax base and mass appraisal techniques, combined with the basic principles of the Hedonic model to build the property tax base mass appraisal model, and ultimately achieved the property tax based assessment.The text consists of six parts: The first chapter is introduction, a simple summary of the background and significance, the research status, research methods, technology roadmap and possible innovation of this study. The second chapter introduces the definition and theoretical basis, mainly defined related concepts of property tax base assessment, the theoretical basis of the tax base assessment and the Hedonic model. The third chapter is the factor analysis of the assessment for the property tax base assessment, consist of tax base assessment’s principles ,purposes and characteristics and the type of tax base, the value of tax base and impact factors, the subject of assessment and options of the value type, as well as analyzing the tax base assessment methods and techniques. ChapterⅣis the process about building Hedonic model, through the selection and setting of the model variables to determine the property tax base assessment of the functional form of the Hedonic model, by estimating and testing the model to form the final model. Chapter V is the section of simulation and application, using the model constructed in Chapter IV, collecting and processing the data of Baoding, makes analog applications to the assessment techniques, and explains the model. Chapter VI is conclusions and recommendations of this study, including the conclusion of the study, advice of research applications, research gaps and future research.