I suppose they haven’t. But they are planning on doing so. And their lack of a property tax is a major reason their cities struggle financially.
Also, the key context here is that land in China is technically owned by the state. It’s leased out on very long term ground leases, but it’s all still owned by the state. In principle, the government doesn’t need to add another property tax, as it’s already leasing out the land. It would be like if a landlord also charged property tax to their tenants.
China is a small tax haven?
I suppose they haven’t. But they are planning on doing so. And their lack of a property tax is a major reason their cities struggle financially.
Also, the key context here is that land in China is technically owned by the state. It’s leased out on very long term ground leases, but it’s all still owned by the state. In principle, the government doesn’t need to add another property tax, as it’s already leasing out the land. It would be like if a landlord also charged property tax to their tenants.