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Beijing considers property tax to curb home market

Posted on 21 February 2013

The central government has issued a fresh warning that it will roll out a property tax trial across the nation to rein in any sharp rises in home prices. In the latest sign that it remains determined to keep the lid on prices, the State Council announced yesterday after a meeting chaired by outgoing Premier Wen Jiabao that it would stick with austerity measures to ensure healthy growth of the housing sector. The warning comes in the wake of recent price rises.
Among the measures the cabinet warned it would take was the expansion of a property tax, presently implemented only in Shanghai and Chongqing on a pilot basis, to other cities……………………………………Full Article: Source


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