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Introducing property tax in China as an alternative financing source |
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| Institution: | 1. Department of Geography and Planning, University at Albany, State University of New York, Albany, NY 12222, United States of America;2. China Household Finance Survey and Research Center, Southwestern University of Finance and Economics, Chengdu, China;3. Department of Geography, University of California, Los Angeles, CA, United States of America;1. Department of Economics, Tulane University, New Orleans, LA, United States;2. Department of Economics, Texas Christian University, Fort Worth, TX, United States;3. The Institute for Housing Studies and Department of Economics, DePaul University, Chicago, IL, United States;4. Department of Housing and Urban Development, Washington, D.C., United States |
| Abstract: | Since the beginning of the 21st century, China has been involved in active discussion on the introduction of the property tax. Yet the current land management system is unsustainable mainly because land supply is limited. This is because the system of lump sum grants produces distorted interests among suppliers and consumers of land. The property tax can be both a cure for these problems and create an alternative financial source of revenue for local governments. We suggest a theoretical model that proves the superiority of a property tax over lump sum grants. |
| Keywords: | China Land management Property tax Sustainable growth Alternative financial source |
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