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Thread: Can property tax ease the high housing prices?
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[quote=JIMMYB,418801]Shanghai and Chongqing has announced to introduce property tax as a trial, aiming to curb speculation in the housing market and prevent a housing market bubble. Shanghai will charge 0.6 per cent on second homes. Chongqing will charge a tax of 0.5 per cent of the property value for houses between two and three times the market average, and 1 per cent for properties more than three times the average. Will this policy take effect as expected? [/quote]
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