Chongqing tax only on high-end housing

BEIJING - Chongqing, one of the pilot cities for a property tax, promised on Friday that the tax will not apply to people on low incomes.

Huang Qifan, mayor of the Southwest China metropolis and a national legislator, said the city has decided to impose the tax on high-end housing only, which accounts for just 10 percent of the city's total.

Chongqing is charging a 1 percent tax on villas and apartments that are more than three times the average price. The rate rises to 1.2 percent if the houses are four times more expensive than the average, he said.