From the Readers
Raise tax on second house
(China Daily)
Updated: 2011-01-19 07:59
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Comment on "China's property tax debate escalates" (China Daily, Jan 15)
When it comes to property tax, I agree that higher taxes should be imposed on a second and subsequent house that a person has. The tax rate should be fixed according to the number of houses a person has. This will help check speculation in the real estate market.
Maybe China can learn from some foreign countries' experience. In some countries, the tax imposed on the first house a person owns is comparatively low, but the tax on the second house is much higher and that on the third even higher. The more houses a person owns, the higher the rate and amount of tax he/she pays. Such a measure will force people who have more than one house to sell them because they will become too costly to maintain.
Nick, on China Daily website
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(China Daily 01/19/2011 page9)
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