The spatial distribution of real estate taxes impacts on housing price in China

2008 International Conference on Management Science and Engineering 15th Annual Conference Proceedings Pub Date : 2008-11-07 DOI:10.1109/ICMSE.2008.4669128

Xuejun Du, Ci-fang Wu, Zhonglan Huang

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Abstract

The purpose of this paper is to present some empirical findings on the spatial distribution of real estate taxes impacts on housing price in China. The fixed effect regression model was used to estimate this effect with data of the 31 provinces and metropolis in 1998-2006. The fording showed that: (1) real estate taxes had both direct and indirect impact on housing price. The direct effect was real estate taxes capitalization, and the indirect effects were referred as the capitalization of public services deriving from the real estate taxes revenues. (2) Real estate taxes had a negative effect on housing price in China. If the collected real estate taxes increased at 1 percentage, housing price would increase at 0.038 percentage, but if local public expenditure increased at 1 percentage, housing price would increase at 0.398 percentages. (3) The real estate taxes burden effect on housing price in central districts of China was much more obvious than Western China, and this effect in Eastern China was not obvious. The reason for the results could be explained to some extent as the spatial difference of local public expenditure.

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房地产税空间分布对中国房价的影响

本文的研究目的是对中国房地产税对房价影响的空间分布进行实证研究。采用固定效应回归模型对中国31个省市1998-2006年的数据进行了评价。结果表明:(1)房地产税对房价既有直接影响，也有间接影响。直接效应是房地产税资本化，间接效应是房地产税收入派生的公共服务资本化。(2)房地产税对中国房价有负向影响。如果征收的房地产税增加1%，房价将上涨0.038%，但如果地方公共支出增加1%，房价将上涨0.398。(3)房地产税负担对房价的影响，中部地区明显大于西部地区，东部地区不明显。造成这一结果的原因在一定程度上可以解释为地方公共支出的空间差异。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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2008 International Conference on Management Science and Engineering 15th Annual Conference Proceedings

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