September 22, 2010

China Has No Property Tax

The rumour mill is running full speed in China with the latest report by a Chinese newspaper called China Business News that Beijing will implement a property tax at the beginning of 2011 according to a highly-placed anonymous mandarin. Currently China has no property tax a fact that might startle many Americans who continue to view China as as a heavy handed "communist" country. Where the property boom is hottest in cities such as Shanghai and Chongqing property tax proposals have been put forth and some trials are in place. To date however there is no official word on any property tax. Beijing continues to dampen property prices with restrictions on second and third homes and onerous down payment requirements....

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