Study On The Impact Of The Real Estate Tax Reform On Real Estate Prices

As a kind of tax, property tax plays an important role in intervening in Real estate prices, promoting the balanced development of the real estate market, guiding the real estate allocation of resources, increasing local fiscal revenue and adjusting income gap. At present, China’s real estate tax system has many problems, such as, low legislative level; unreasonable separation of powers and tax basis; a narrow range; unreasonable tax basis; various repeated taxes and fees project, which seriously influence the function of real estate tax. As the main local tax, property tax reform is used to adjust the need of the real estate market price. It is an important way of promoting the local government from financial dependence on land. A sound real estate tax system relates to the success of the fiscal and taxation system reform.First of all, the article analysis the difference between the real estate tax and property tax, giving the concept of real estate tax, pointing out that the estate tax increases local fiscal revenue, stables housing prices and adjusts the resident’s income gap. On this basis, this paper also analysis the tax system of real estate in our country, the status quo of Shanghai Chongqing real estate tax reform, giving a detailed introduction about the concept of real estate tax and calculation formula. Combined with the real estate tax revenue function, the writer points out some problems which China’s real estate tax legislation level is low, legal effect is not strong, and tax basis of the existing real estate tax is not the market value of the real estate, the overall tax burden is overweight. Secondly, as a special commodity, real estate has the property of commodity also has the property of capital goods. So this paper uses the tax on model and the asset pricing model to explore the real estate tax on real estate price influence mechanism. On this basis, using the panel data model respectively to estimate the influence of overall tax, the circulation link taxes and retain part size of tax on real estate prices. The empirical conclusions show that the correlation between overall real estate tax and real estate prices is positive, but the phase relationship between numerical small, every1%rise in taxes will bring house prices to rise0.053%. The correlation between Circulation link tax and real estate market is positive.The phase relationship between numerical small, every1%rise in taxes will bring house prices to rise0.058%. There is no obvious relationship between keep link tax and real estate price, this is due to the basis of retain part of tax is not caused by the real estate market value. Finally, we put forward some suggestions that putting the existing real estate tax and town land royalties into real estate tax, cancelling the cultivated land usage tax, building a concise and each link more balanced tax system which composed of income tax, business tax and property tax, strengthening the real estate market information infrastructure construction.