How exactly is it better for land to be ownable by the populace, rather than the public? I understand that there’s taxes, it’s to combat home ownership as an investment vehicle.
I am 100% sure that even when westerners will be reduced to living in a pods, eating bugs, owning nothing and being happy (or else) there would still be massive number of homeless people to serve as warning for pod people to be happy (or else).
If they have to pay to renew the lease, that’s is a kind of property tax, especially if an individual has to compete to buy their own lease. This may or may not be the case.
The news about the pilot is correct. Xi Jinping had been pushing for it for a long time and this is all he has been able to get so far. He is strongly against speculative growth of real estate.
AFAIK residents don’t have to compete to renew the lease. We have seen the first batches of leases expiring in recent times and no one got evicted. What I understand is that, you can’t sell your house after the lease expires, but you can continue living their indefinitely till the building crumbles. If the government decides to demolish and redevelop, then they give you a new house in the same place.
deleted by creator
The idea is to use land as a public resource, not something to be hoarded.
deleted by creator
How exactly is it better for land to be ownable by the populace, rather than the public? I understand that there’s taxes, it’s to combat home ownership as an investment vehicle.
I am 100% sure that even when westerners will be reduced to living in a pods, eating bugs, owning nothing and being happy (or else) there would still be massive number of homeless people to serve as warning for pod people to be happy (or else).
Sadly I think you’re right.
There are no property taxes in China last I checked.
If they have to pay to renew the lease, that’s is a kind of property tax, especially if an individual has to compete to buy their own lease. This may or may not be the case.
There are also ostensibly value-added taxes and land appreciation taxes but I’ll admit those are not property taxes per se.
There is also this source that says that select cities such as Shanghai and Chongqing have pilot programs for property tax primarily targeted at high-value residential properties and secondary homes but they don’t have any sources, so I have no clue if it’s true.
The news about the pilot is correct. Xi Jinping had been pushing for it for a long time and this is all he has been able to get so far. He is strongly against speculative growth of real estate.
AFAIK residents don’t have to compete to renew the lease. We have seen the first batches of leases expiring in recent times and no one got evicted. What I understand is that, you can’t sell your house after the lease expires, but you can continue living their indefinitely till the building crumbles. If the government decides to demolish and redevelop, then they give you a new house in the same place.
Awesome! Do you have another source for the pilot? I expect it’s all in Mandarin and I am terrible at finding things in other languages.
I don’t have anything handy but I believe there’s a wikipedia page which has references for this topic. I can’t remember which one.
deleted by creator
Being a jackass is also not a meaningful contribution.
deleted by creator
Pointing out someone being rude does not make me rude.
deleted by creator
And now look how far you’ve brought us off track. Completely derailed the conversation. I hope you’re quite proud of yourself.
deleted by creator
You seem unhappy