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.
It’s almost like people are talking about implementing this in other countries, strange concept I know, once you’ve caught up perhaps you could contribute meaningfully to the discussion.
I don’t feel that being capable of reading and responding in context is something worth being proud of but if you do, great, an LLM will be coming for whatever miserable excuse for a job you have very soon.
So the city/state should be covering maintenance costs by reselling the land… what the fuck are rates and land taxes meant to cover again?
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.
It’s almost like people are talking about implementing this in other countries, strange concept I know, once you’ve caught up perhaps you could contribute meaningfully to the discussion.
Being a jackass is also not a meaningful contribution.
Agreed, you should try not doing it sometime
Pointing out someone being rude does not make me rude.
Oh no! It’s rude now to point out someone can’t read and respond in context
Stay irrelevant
And now look how far you’ve brought us off track. Completely derailed the conversation. I hope you’re quite proud of yourself.
I don’t feel that being capable of reading and responding in context is something worth being proud of but if you do, great, an LLM will be coming for whatever miserable excuse for a job you have very soon.
You seem unhappy