The Study Of American Real Estate Tax And Its Income Distribution Effect

As a kind of property tax,real estate tax is widely levied in countries all over the world.Among them,the United States can be said to be one of the most mature and perfect countries in real estate tax system.It has a strong typicality.This paper takes"the impact of the US real estate tax system design on the income gap" as the main research object.On the basis of institutional analysis,it further explores the relationship between the US real estate tax system and income distribution.The entire real estate tax system in the United States is relatively complex.As a local tax,the regulations on the real estate tax system vary from region to region,and there are both general and local regulations.Based on this,this article starts from the legislative division of real estate tax,tax object,tax basis,tax rate design,tax exemption and management operations,and selects California,New York,Florida,Indiana and Texas as the representative areas.We tried to provide a more systematical and comprehensive summary of the contents of the US real estate tax system,provide more accurate information for the study of the US real estate tax system.Based on the summary of the design of the US real estate tax system,this paper considers that the current real estate tax system has a potential deteriorating effect on income distribution.Specifically speaking:Under the effect of tax burden transfer,lessees mainly from middle and low income groups bear more real estate tax burden;as a local benefit tax,real estate tax promotes the high-grade housing in the rich areas and the accumulation of the rich,while driving up housing prices and forcing the lower-income people to migrate to the civilian areas with lower housing prices and tax burden,which leads to the deterioration of the rich and poor areas;In addition,the unfair growth restriction policy of real estate tax assessment has made the real effective tax rate of high-income people decline,and the decline is greater than that of low-income groups.The rich can enjoy more preferential benefits from the restrictions of assessment growth,thus worsening the income distribution of different groups.Based on the above theoretical analysis,this paper uses the panel data of 50 states in the United States from 2005 to 2015 to test and find that the real estate tax has a significant positive effect on the regional income gap.In further research,we use the PVAR model to test the above conclusions.The results show that the real estate tax has a significant effect on the income gap within a lag of 1-3 periods.And the income gap has the "inertia" of self-enhancement,while the real estate tax itself has the self-regulation.Based on the above conclusions,this paper puts forward some suggestions on further improving the real estate tax system in the United States,and focuses on how to design China's future real estate tax in order to better avoid deteriorating income distribution.It also illustrates the complexity and particularity of China's real estate tax problem on the basis of the essential differences between China and the United States,which can not simply learn from the American model.China's real estate tax should not be levied blindly and rashly.