Research On The Impact Of The Real Estate Tax System On House Price

Since the housing monetization of China,the real estate market has achieved vigorous development,and the corresponding housing prices have also been rising.The excessive prosperity of the real estate market also breeds a series of social problems.Investment in the real estate market has been overheated and the bubble has continued to grow.The financial industry,which has a close connection with the real estate market,has also been affected and financial risks have continued to expand.With the closing of the 19 th National Congress of the Communist Party of China and the "two sessions," prevention of financial risks,especially real estate market risks,has become the consensus of the decision-making level.To this end,the Chinese government has adopted a variety of policies before and after the implementation of macro-control,mainly including: land,currency,finance,and interest rates and other related policies.With the rising voice of real estate tax reform,real estate tax policy as an important lever to regulate the real estate market and social and economic distribution has played an important role in guiding the rational allocation of resources in the real estate market and strengthening the financial construction of local governments.As a result,real estate tax reforms have accelerated.More attention has been paid by the government and academia.What is the impact of the real estate tax system on housing prices and what is the impact mechanism? How can real estate tax reform be implemented so that the government can more effectively regulate and control the real estate market and clearly define the position that "houses are used to live,not used to scramble?" This is the focus of this article.First of all,after introducing the reform process of China's real estate tax system since the founding of the People's Republic of China,this paper carries out a series of analysis of the current real estate tax system and points out the problems existing in the current tax system.Secondly,theoretical analysis of the impact of the real estate tax system on house prices uses the real estate tax at circulation and ownership as a demarcation point: in the analysis of the impact of real estate taxes on housing prices in the circulation sector,the AD-AS model is used to analyze the impact mechanism.Analyze the impact of real estate tax on property prices in the aspect of ownership,and study the impact mechanism through constructing a modern asset pricing model.Then,taking Anhui Province as an example,after introducing the process of reform of the real estate market in Anhui Province since the reform and development,the development of the real estate market from 2009 to the present is analyzed in terms ofinvestment scale,construction scale and sales scale,and taxation coordination is used.Coefficient analysis of real estate-related taxes in Anhui Province,a preliminary exploration of the real estate tax system in Anhui Province on the relationship between house prices.Afterwards,taking Anhui Province as an example,using its panel data from 16 prefecture-level cities from 2003 to 2016 to build a model,using GMM estimates,it empirically analyzes the impact of real estate taxes in circulation and ownership on housing prices,and uses static panels.The test model has good robustness.Through the above analysis,it is concluded that there is a significant positive relationship between circulation links and house prices,and there is a significant correlation between ownership links and house prices.Finally,based on the theoretical model and empirical model analysis conclusions,relevant suggestions are proposed from three aspects: adjusting the supply and demand structure of the real estate market,reconstructing the real estate tax burden system,and establishing a scientific assessment system,with a view to strengthening the regulatory role of the real estate tax system.Stabilize the real estate market.