Property Tax Back On?

SCMP: New rules to nudge local governments into property tax action in China

According to the guidelines, the central government will encourage local authorities to explore innovative approaches to urbanisation, state firms, regional financial markets, property taxes, health and elderly care.

Pilot property tax schemes were introduced in 2011 in Chongqing and Shanghai, ahead of a planned roll-out nationwide.

Shanghai’s tax is aimed big new properties, while Chongqing’s targets owners of luxury homes, including high-end flats and villas. The tax rate in both cases is about 1 per cent.