Combined property tax revenue in the first quarter of the year soared nearly twofold annually to a new high of NT$7.29 billion (US$249.78 million), more than the sum of the previous five years, due to steep hikes in housing prices and active transactions, Sinyi Realty Inc (信義房屋) said.
The sharp gain in property tax revenue — also known as integrated house and land sales tax — mocked a spate of unfavorable policy measures introduced by the government to induce a soft landing for housing prices, the nation’s sole listed broker said in a news release on Thursday.
Taichung’s property tax revenue increased 62 percent year-on-year to NT$1.55 billion, making the special municipality the largest contributor of property taxes in the country, Sinyi research manager Tseng Ching-der (曾敬德) said.
Photo: CNA
New Taipei City ranked second with NT$1.02 billion in property tax revenue, more than doubling the NT$480 million it recorded a year earlier, Sinyi said, citing government data.
If unfavorable measures worked, property transactions and property tax revenue would have declined, Tseng said, adding that when property gains outpace tax burden increases, people make transactions.
Kaohsiung placed third, contributing NT$9.4 billion in property tax revenue, a 99 percent increase from a year earlier, Sinyi said.
Property tax revenue in Taipei rose 87 percent to NT$840 million, jumped 182 percent in Taoyuan to NT$810 million, while Tainan generated NT$640 million of property tax revenue, an 89 percent increase from a year earlier.
Property tax revenue spiked 480 percent to NT$370 million in Hsinchu County and increased 145 percent to NT$250 million in Hsinchu City.
The extension of property taxes to presale contract transfers also helped drive up overall property taxes, Tseng said.
A proposed 100 percent tariff on chip imports announced by US President Donald Trump could shift more of Taiwan’s semiconductor production overseas, a Taiwan Institute of Economic Research (TIER) researcher said yesterday. Trump’s tariff policy will accelerate the global semiconductor industry’s pace to establish roots in the US, leading to higher supply chain costs and ultimately raising prices of consumer electronics and creating uncertainty for future market demand, Arisa Liu (劉佩真) at the institute’s Taiwan Industry Economics Database said in a telephone interview. Trump’s move signals his intention to "restore the glory of the US semiconductor industry," Liu noted, saying that
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
Leading Taiwanese bicycle brands Giant Manufacturing Co (巨大機械) and Merida Industry Co (美利達工業) on Sunday said that they have adopted measures to mitigate the impact of the tariff policies of US President Donald Trump’s administration. The US announced at the beginning of this month that it would impose a 20 percent tariff on imported goods made in Taiwan, effective on Thursday last week. The tariff would be added to other pre-existing most-favored-nation duties and industry-specific trade remedy levy, which would bring the overall tariff on Taiwan-made bicycles to between 25.5 percent and 31 percent. However, Giant did not seem too perturbed by the
RSS