Add property tax, is the house cheaper or are we crying because the price is sky high?
On the afternoon of March 16, National Assembly delegate Ngoc Ba (Binh Dinh) raised the issue of land speculation, which has been identified for many years but is still complicated. Specific solution in the direction of people who use a lot of land but abandoned houses and land are taxed high. However, after 3 years, this policy has not been proposed yet.
Minister of Natural Resources and Environment Tran Hong Ha said that this must be corrected in the Tax Law and the Land Law. Mr. Ha stated in the response to the delegate, if the time has not been used for a long time, then there must be tax measures to avoid hoarding, speculation and profiteering. How this tax increases will be discussed next.
Mr. Ha cited in the US that people are very afraid when they have a house that they do not live in or rent out. Even residential land, non-investment projects, and unused agricultural land are still subject to use tax. Those who have 5-6 houses but do not live in, do not bring efficiency to society such as not for rent, business, and trade… must tax.
“How progressive tax must be taxed for investors to calculate their benefits”, Mr. Ha added.
In fact, not only the US but many countries have used the property tax tool to levy the owners. In Singapore, there is also a tax increase roadmap aimed at the richer, the higher the property value, the higher the tax rate.
However, that is on the legitimacy side, outside the light. But the reality behind those right things seems to be different.
The saying that many people who go to buy a house, regardless of investment or owner purpose to live in, always ask the seller who pays the tax or who does the paperwork. Some current taxes have an individual share. However, this part of tax and fee always becomes a story between buyers and sellers.
In some cases, it was even the cause of the deal’s failure because of the inability to agree on taxes and fees.
Many people know the story of reducing the value of transferred real estate to just hope to pay lower taxes. But how much down is the story outlined by the consultant, the broker or the intention of the buyer.
All from the original original price plus taxes and fees constitutes the new value of the house. Not to mention the value of real estate increases over time. The house is still the same, the function has not changed, the remaining useful life is reduced due to depreciation or building permits, but it is sold at an exorbitant price. That is the fundamental problem that needs to be solved so that people can easily access and own a place to live.
If there is more property tax, the market will be more hot because prices can increase.
More property taxes put pressure on homebuyers to live in
If the real estate tax as the minister said becomes a reality, I am afraid that the ultimate loser will still be the end consumer. Project buyers are willing to resell to a second person for double the price. The project took shape, took off the roof, and the price tripled. Transferring to the fourth person, the price is now about 3.5 times more.
At this time, the fourth owner determined that this was the second house, so he left it there, just left it blank and considered it as a savings. He let over 4 years, the value of his own property increased 5-7 times. Tax on the act of hoarding and speculating for 4 years.
By the 5th year, if this man wants to sell, the other tax will definitely be included in the total quotation for customers buying houses for living purposes. People who do business, surely no one would be foolish enough to let themselves suffer! Real people are people who really want to live.
Our forefathers used to have to “buy buffalo, get married, build a house”. But now, buying a house has been put above all else by many people. The demand of the market is very large, the supply is always not enough to meet the demand. That’s why house prices are always sky-high. Many people who work their whole life cannot afford a house.
Now ask a new property tax, oh my, when will we be able to buy a house!
Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
