Re:Priced out of home ownership – 'It makes me want to throw...
by ameister14 on Tuesday May 28, 2024 @11:45AM
(#40501893)
Chinese municipal governments are funded through the tax assessed on the sale of the home and not through a continuous property tax - or at least that used to be the case, haven't checked in a while. That resulted in municipalities encouraging higher prices for housing.
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Re:Priced out of home ownership – 'It makes me want to throw...
by seanmcdirmid on Tuesday May 28, 2024 @12:27PM
(#40502497)
Some locales have experimented with property tax, but they haven't really expanded the program yet, and they usually exempt your first home. It isn't enough to fund municipal services, and cities are still screwed when it comes to income (the central government collects most of their VAT, they are expected to pay for a lot of services without a lot of income beyond taxes on property sales).