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VOICE YOUR VIEWS -- PROPERTY TAX REVISION

Property tax is an indispensable instrument. Sometimes it may increase the property investors’ costs or sometimes help in lowering housing prices. Developers will not have to pay land fee if property tax is levied. While homebuyers may pay less for property, they will have to pay more to maintain their houses, as they will have to pay the tax. So, the tax regime should be designed carefully in order not to add unbearable costs on to ordinary homeowners. Before the tax is levied, there should be some basic infrastructure such as detailed and accurate property registration database and a scientific land valuation method. Only when these preparations are done, can the property tax revision be implemented efficiently.

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