Fri, Apr 05, 2013 - Page 13 News List

Property sales surge on demand

TAXES:Taipei’s new deputy mayor is pushing for taxing properties based on their actual selling price, but added that supporting measures should be in place first

By Crystal Hsu  /  Staff reporter, with CNA

The Ministry of Finance said that until a single property and land value tax is introduced, it would be difficult for the government to impose a property tax based on actual selling prices.

What the government can do during the transition is to gradually increase current land values during assessments to reflect their market price, the ministry said.

Chang said he agreed with the ministry’s idea, but he also recommended that the government adjust tax rates separately for properties for personal use and for lease, instead of raising tax rates across the board, to avoid increasing the burden on the general public.

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