Debate: Is property tax fair?

As home prices continue to climb, the government faces more pressure to stabilize the market. Two critics debate the relevance of the government's property tax.

Liu Shangxi: Small tax is impractical and a big mistake

Property tax, or real estate tax, has sparked a heated debate ever since it was introduced in 2003. In many countries, property tax comprises a small portion of government revenue. China first collected urban real estate tax in 1951 and housing property tax in 1986. These two taxes were merged into a housing property tax last year, targeting the housing property market. Property tax, despite remaining a small item of taxation, becomes a controversial issue when households are included as property taxpayers.