The real estate tax levy, the local tyrant will be a big sale?

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  • From:AIAT
  • Author:atr
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After many rounds of social discussion,

has recently reappeared on the reform of real estate tax.

yesterday, the Chinese Academy of the new economics of supply, chief economist at the Research Institute of the Ministry of Finance Director of the original author believes that real estate tax can promote ballast stability, inhibiting unscrupulous speculation in real estate taxes have a "pressure cabin stabilizing" role for the real estate market and related fields of operation. The cost that it is able to estimate year by year in the form of holding links will guide the expectations and behaviors of related subjects, and the effect will be conducive to curb unbridled speculation.

Jia Kang's point of view is quite representative, and advocates that the real estate tax scholars generally believe that the real estate tax increases the cost of housing holding, which is conducive to curb the real estate and play a role of "ballast stabilization" in housing prices and the real estate market. In simple terms, the "tyrants" that hold more than 10 sets of houses are bound to sell or take out.

is that true? The author thinks that, theoretically speaking, the real estate tax increase holding costs, there will surely be possible sale results, but we also need to consider the "burden", that is whether to levy tax who will eventually fall, no elastic or inelastic small groups, therefore, the real estate tax levy must be considered to just family whether end for tax, otherwise it will lead to "fleece".

the hot discussion of this round of real estate tax comes from Xiao Jie, Minister of finance, published in the people's daily in December 20th, "to speed up the establishment of modern financial system". The article mentioned that the legislation and implementation of the real estate tax should be promoted in accordance with the principle of "legislative advance, full authorization and step by step". The real estate tax should be levied according to the evaluation value for industrial and commercial real estate and individual housing, and the tax burden of construction and transaction links should be reduced appropriately, and a modern modern real estate tax system should be established step by step.

for a time, the real estate tax suddenly coming stormin. In fact, the public opinion on Xiao Jie's minister's articles is exaggerated, especially when it is assessed according to the valuation value, which involves huge operational problems, such as the huge social cost and workload of evaluation, which is unlikely to land soon.

, in the long run, the construction of the modern real estate tax system is sure to come. But Rome wasn't built in a day. Now even legislation is the real estate tax. This "Rome mansion" has just excavated the foundation. The real estate tax levy involves a wide range, is also very complex, starting immediately to expect and stabilize prices, how much some plum thirst.

Jia Kang and other scholars put the real estate tax as a sharp drop in house prices, the real estate market regulation is the killer, their most basic logic is that the real estate tax levy, who will be the nouveau riche sale has several sets of dozens of houses, housing prices will drop; or into the rental market, increasing supply the amount, the housing rental market into a buyer's market.

obviously, this is a simple way to analyze the problem from the perspective of tax through the impact of price costs, and then change the supply and demand of real estate. Indeed, in essence, all markets are affected by the price of supply and demand, and the relationship between price and supply and demand is mutually influenced, and the cost of taxation is also a component of price. But the price impact on the market supply and demand is very complex. For general commodities, the price increases and the demand decreases, but it will stimulate the supply increase because of profit, while the price will decrease and the demand will increase, but the supply will decrease.

so, through the price adjustment of supply and demand is uncertain, the real estate market "to buy or not to buy up" also illustrates this point, in fact in recent years, skyrocketing housing prices, already out of the price rule in the traditional sense (i.e. the price determined by supply and demand), and associated with the future rate of return. In other words, the Levy of real estate tax may not affect the relationship between supply and demand. As long as the future rate of return is high, the cost of tax increase can be covered by high yield. Whether or how to reduce housing price is still unknown.

, in fact, a lot of people have ignored another tax related principle -- tax end, which is the core of all taxes including real estate tax and so on. The so-called tax return is the ultimate end of the tax burden is who, the tax bearer is not necessarily the direct tax to the government. For example, if the government levies land tax, the land buyer will turn the land tax payable to the capital and transfer the tax burden to the seller of the land, so as to show that the land price is rising.

, in fact, at present, the price of land king has been transferred to the Buyers by land developers under the condition of high land price, while the cost of the buyers is not low, but as long as there is a rising expectation, the buyers can also transfer the cost to the next buyer.

According to the theory of

tax end, whether we can achieve smooth tax burden shift depends mainly on demand elasticity, and tax will ultimately be borne by the least flexible and least flexible tax base. To the real estate tax, when designing, we should give full consideration to those groups that are the least flexible and the most flexible tax base, especially avoid the high tax rate for small and medium-sized units, and eventually transfer to the rigid demand family. author


From: 房地产税开征,土豪就一定会大甩卖吗?
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