Proposed property tax aims for fairness

A property construction site in Tongzhou district of Beijing. [Photo provided to China Daily]

Long-awaited amid housing market uncertainties

, a property tax law is included in the legislation plan of the Standing Committee of the National People's Congress, China's top legislature, signaling lawmakers' determination to carry forward the reform. Comments:

It is imperative for the country to implement a property tax law as it will help the domestic property market operate in a healthier manner. However, no final decisions have yet been made on the timeline for introducing a property tax law. Also, given the wide ambit of a property tax, not only should the draft plan and consultations be very discrete, a relatively long preparation period will be needed before its implementation. And, when setting the tax rates, the financial conditions of ordinary people should definitely be taken into consideration.

Economic Daily, Aug 7

A property tax is not aimed at lowering housing prices. The four-year property taxes piloted in Chongqing and Shanghai have not had as big an impact on prices as expected. What determines housing prices in the end is always the supply-demand relationship.

People's Daily, Aug 10

For ordinary people, what they are paying most attention to in the proposed property tax is when and how this tax will be collected and whether there will be a tax exemption. All of these are key issues closely related to their individual interests. It is expected that the top legislature, while pushing ahead with the legislation plan, will give consideration to both efficiency and equality and allow time for the public to give its opinions and suggestions. Only by doing so can the government effectively push forward the modernization of China's finance and tax system, and guarantee their justice and fairness, without accidentally hurting the interests of the people.

163.com, Aug 7