Beijing likely to start property tax reform in 2011

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Beijing is likely to begin property tax reforms as soon as the second half of 2011, China Securities Journal reported on Friday.

The report said the Beijing government has held a briefing with local officials and urged them to take the lead in backing the policy by declaring their personal assets first.

The report also said the new policy might be a sign that China will begin nationwide property tax reforms following a pilot program, according to an expert from Ministry of Housing and Urban-Rural Development.

The first-tier cities are prepared now for the new tax, the expert said.

East China's Shanghai and Southwest China's Chongqing piloted in property tax reforms from the end of January in order to curb high housing prices.


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