Empirical Analysis On The Impacts Of Real Estate Taxes On China’s Housing Price

Real estate tax is the main source of fiscal revenue of local government, has alwaysbeen as the main part of tax policies on real estate market and the social and economicleverage effect. In recent years, with the process of urbanization speeding up, the realestate market is developing rapidly, more and more housing just need groups graduallyformed. In the face of rising house prices, home ownership is the housing situation,given the real estate market more and more attention from all walks of life. After theland policy and credit policy, tax policy and house prices on the real estate marketregulation effect might be expected, the tax policy has gradually become the focus ofgovernment regulation. Since the central government proposed a tax on real estateconditions have been met since the unified, standardized property tax, real estate taxsystem reform and housing problems gradually become the focus of research.What kind of relationship between house prices and real estate tax? How does realestate tax influence to housing prices, and what’s the inner mechanism of this effect?How do Real estate taxes effects on housing prices with regional characteristics? Thisseries of questions are unanswered, and this paper attempts to answer these questions.This paper in the first chapter which is the introduction illustrates the use of theconcept of real estate tax. Then the second chapter which is the part of summarizes ofthe papers, the study reviews the current domestic and foreign research status quo ofreal estate tax, real estate taxes are analyzed theoretically, the relationship between localpublic spending and house prices. After the third chapter in China’s real estate and realestate tax system change main taxes, and introduces the development course and thereal estate market macroeconomic regulation and control, as the background of thechange of real estate tax system at the same time. The fourth chapter analyzes the realestate tax, the related theory of relation between local public spending and house prices,and asset pricing theory articles was deduced according to the theory of model. Then inthe fifth chapter choose a total of12years from2000to2011panel data of Chinese30provinces and cities, through empirical analysis of panel data, get the regressionmodel of real estate taxes effects on housing prices under the national point of view.Then considering the spatial difference of national regions, respectively according to thedivision of eastern, central and western region, build panel data model, discuss theregional characteristics of real estate taxes effects on housing prices in China. Finally, in chapter6of this article, draw the conclusion, and put forward thecorresponding policy recommendations, the deficiency of this article and furtherimprove and research direction are also introduced.