Analysis Of The Economic Effect Of The Reform Of Housing Property Tax In Shanghai And Chongqing Pilot Project

In recent years,housing prices have risen substantially all over the country.There are two levels of differentiation in the housing sector.The richer the high-income groups are,the more housing they buy for the purpose of investment.The housing burden of the low-income groups has increased.The phenomenon of using family funds to buy a house has arisen.The higher the housing prices,the wider the gap between the rich and the poor.General Secretary Xi mentioned that houses are used for living,not for speculation,so it is urgent to formulate a suitable national property tax reform policy.So far,the government has also introduced some policies,such as limiting the number of apartments to control house prices.From the perspective of changes in house prices across the country,the long-term effect of controlling house prices is negligible.Collecting real estate tax on individual housing in Chongqing and Shanghai has opened a new chapter in the reform of real estate tax.It has been eight years since the reform in 2011.Although the control effect of real estate tax on housing prices is not ideal,from the analysis of the effect of real estate tax reform on the real estate market in Shanghai and Chongqing,it still has a positive effect in regulating the supply and demand structure of real estate.This paper analyses the effect of the reform in Shanghai and Chongqing from different angles,draws lessons from the reform experience and summarizes the problems of the reform,and finally gives some suggestions on the reform of real estate tax.Starting from the literature review of domestic and foreign research on real estate tax,this paper studies the economic effect of real estate tax refonn on the real estate larket.Firstly,this paper summarizes the components of real estate buyers and suppliers in the real estate market,and analyses the three functions of real estate tax.Secondly,it analyses in detail the operation mechanism of the economic effect of real estate tax,including price effect theory and income effect theory.On the basis of this theoretical research,this paper analyses the actual reform situation in Shanghai and Chongqing,and analyses the influence of real estate tax reform on purchase preference from the perspective of buyers,the influence of real estate tax reform on supply structure from the perspective of developers,the impact of real estate tax reform on fiscal revenue from the perspective of government,and the establishment of an econometric model to analyze the impact of-real estate tax and housing.The relationship between house price and real estate tax shows a negative correlation,but the regression coefficient of house property tax is small.Because there are other factors that promote the growth of house price,such as GDP per capita will significantly promote the growth of house price,the effect of house property tax on controlling house price will be discounted.Then,according to the current situation,the paper puts forward the problems that still exist in the reform of Shanghai and Chongqing.Finally,by drawing lessons from the implementation of real estate tax in the western and Hong Kong regions,it puts forward the policy suggestions for the future reform of real estate tax in China from the aspects of the principles,tax system and supporting facilities that should be followed in the reform of real estate tax.The reform of real estate tax affects the whole body.Only from practice can we know how the economic effect of the policy is.Studying the economic effect of real estate tax in Shanghai and Chongqing is conducive to improving the reform of real estate tax in China,and is beneficial to promoting the healthy development of the real estate market and economic and social development.