Study On The Effects Of Real Estate Taxes On Housing Price

The real estate industry is the important pillar and an indispensable part of the national economy.Roll out town housing system reform since 1998,China's real estate investment sustains a faster growth rate and high residential consumption demand,supply and demand of the real estate market.Do a good favor to improve the residents' living conditions and to the development of related industries.Real estate taxation is an important means of local government organization in our country finance income,is also in the real estate market macroeconomic regulation and control important tool,which play an irreplaceable role in macroeconomic regulation and control.Experienced more than 30 years after nearly 10%of high-speed growth,the growth rate of our country economy entered a phase shift in international and internal structural factors under the impact of dual role,which stimulus the structure adjustment digestion phase superposition of the third phase of the new normal.Said goodbye to the 8%growth since 2013,our country economy era,and further back,GDP growth of 6.9%in 2015,means that our country's economy from the high speed growth stage gradually adjust entered the rapid growth stage.Along with the change of the macroeconomic environment,the real estate market also quietly and in China's real estate market has begun to gradually cool,house prices from once "only up not down" began to appear growth is slowing,some three or four-line city house prices appear even lower.Based on the concern about high housing inventory under the new normal,the government introduced a variety of measures to regulate the real estate market,purchase,price and other administrative intervention the exiting,at the same time introduced a rate cut,fall and differentiated credit policy,actively promote the reform of housing accumulation fund system,increase the support housing construction.Under the condition of the real estate an unwanted high inventory,analysis of the real estate tax how to impact on housing prices as well as how to reform the current real estate tax system to make it more effective play to the role of fiscal revenue and macroeconomic regulation and control,which has become a hot spot of the academic discussion.First of all,this paper expounds the reality of the real estate tax system in our country and analyses the function as well as the role of real estate tax.And on this basis,reveals the existing problems of real estate tax system in our country.According to the-real estate tax benefit theory,from the perspective of public spending on real estate tax's influence on house prices are analyzed in theory.Analysis of real estate tax will ultimately lead to rising or falling house prices,depending on the capitalization effect of property tax and public expenditure capitalization effect force of the two.When public spending capitalization effect is greater than the capitalization of the tax effect,prices will rise,the opposite will decline.Second,in the empirical part of this paper,real estate tax can be divided into retain links and circulation of two parts.The first step in the national level analysis whether keep link or circulation,real estate tax has a significant negative effect on prices.And then using the panel data of 30 provinces except Tibet,China can be divided into three parts in eastern,central and western region analysis.And it is concluded that different link different parts of the real estate tax on property prices,the influence of different regions should adjust measures to local conditions,when tax policy for city conclusion.Finally,on the basis of above analysis,the real estate market in our country put forward the corresponding policy recommendations.