Chongqing Said to be Mulling Extension to Residential Property Tax

(Beijing) – Chongqing may extend its home ownership tax to cover more high-end buyers, to make it the strictest property market measures imposed by a municipality on the ever-growing property market.

The Southwestern city, the first to pilot such kind of tax in China, is likely to redefine the high-end housing, targeting homes sold 1.5 times the city's average prices or above, said Liu Heng, a tax professor at Central University of Finance and Economics, in a report by Economic Information Daily on September 7.