RECOMMENDATION OF RESIDENTIAL PROPERTY TAXING FOR THE CITY OF WENZHOU

Abstract

The objective of this thesis is to make recommendations for a residential property tax mechanism for the city of Wenzhou, China. The research question is " Given what can be learned from the U.S. system, how can we improve the property tax system in China to be more complete and how can the Shanghai and Chongqing pilots be made current to be more appropriate for Wenzhou?" To conduct the research, the first step is to investigate the Chinese property tax system. Then, it examines the U.S. property tax system, including an analysis of the legal background, land ownership, and process of taxation. In addition to the U.S. property tax model for insights, recommendations for Wenzhou also draw on the current Shanghai and Chongqing pilots, which are studied as part of this thesis. The recommendations are: combine ad valorem tax and specific tax; decentralize and leave autonomy for local government; address land-transferring fees issues; establish a personal properties registration system and properties assessment system; tax taxpayers in same circumstances alike; implement general homestead exemption and other more comprehensive abatement; create appeal process; address use of tax .