China may introduce a property tax as early as the first half of next year although first homes are expected to be exempt.
It is the latest move in a bid to cool the country’s raging real estate market and further interest rate rises are not being ruled out.
Business Week: China May Start Property Tax First Half 2011, Securities Says November 01, 2010, 9:34 PM EDT
Bloomberg: China May Unveil Property Tax in October to Reign Home Prices, Report Says
The new tax, which will be extended to include residential property, is more likely to be implemented at the start of next year, the Chinese-language newspaper said. The government currently imposes a tariff on business-use real estate and exempts individuals’ residential housing.
Here are two links to Property in China issues - In Chinese - Blood Housing in China