Shanghai Municipality, Tentative Measures on the Launch of the Pilot Project for Levy of Property Tax on Certain Residential Premises for Individuals
上海市开展对部分个人住房征收房产税试点的暂行办法
Shanghai imposes property tax on the second property.
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Issued: January 27 2011
Effective: January 28 2011
Applicability: Property tax shall be levied on the second or more unit of residential premises (including existing second-hand residential premises and newly-built commodity residential premises) newly purchased by resident families in Shanghai, and residential premises newly purchased by non-resident families in Shanghai (Article 2).
Main contents: Property tax shall provisionally be calculated based on 70% of the market transaction price of the taxable residential premises, and