Research On The Impact Of Real Estate Tax On Housing Rental Prices

Whether it is from the perspective of perfecting the tax system,or from the perspective of adjusting the housing consumption structure and stabilizing real estate prices,it is an irresistible trend to levy property tax in the housing preservation sector in China.At present,real estate tax legislation has been included in the legislative plan of the National People's Congress.Many scholars have conducted extensive research on the relationship between property tax and housing purchase price.The real estate market is a whole consisting of the housing leasing market and the housing trading market.The two have a close relationship,and one market change will affect another.When the property tax restrains the speculative demand of housing in the housing market,it will turn people's housing demand into renting demand.Therefore,when the property tax affects the housing market,the impact will also spill over into the housing rental market.However,few scholars pay attention to the relationship between property tax and housing rental price.In this context,the author has made research on this paper.This paper firstly proves that the property tax can have an impact on the housing rental price and what kind of impact it has.Based on the relevant research results at home and abroad,combined with the real estate investment-consumption theory and the no-arbitrage equilibrium of rent purchase,a renting house is established.-Buying a house model,comparing the housing rental prices before and after the property tax collection,found that the property tax in the suppression of housing prices,while converting part of the demand for housing into rental housing demand,which led to the rise in rent.After theoretical analysis,this paper establishes a dynamic stochastic general equilibrium(DSGE)model including heterogeneous family departments to empirically analyze the impact of real estate tax on housing rental prices.Through empirical analysis,the following conclusions can be drawn: The property tax on housing holdings,although it has played a role in curbing housing prices,will turn people's housing demand into renting demand,making rents rise;property tax rates and rents show the same direction,that is,the higher the property tax rate The greater the increase in rent.Therefore,the property tax reform should be “stable”.The property tax reform should be promoted in a step-by-step,step-by-step and stable manner.It is necessary to pay attention not only to the impact of property tax on the housing market,but also the impact of property tax on the housing rental market.The tax reform is an opportunity to promote the balanced development of the housing market and the housing rental market,and promote the establishment of a housing system that is both rent-and-purchase.