China to accelerate implementation of property tax

中国财政部：将加快推进房产税的实施 The article doesn't give a timeline, and there will be exceptions for low income housing. The main point, not mentioned in the article, is that Chinese local governments rely heavily on land sales and real estate development. If the real estate economy slows down, these governments will see revenues plunge. You can read between the lines as to why the government wants to accelerate the implementation of a more stable tax system.