Should we worry about the property tax?

Property tax, also known as housing tax, is a kind of property tax levied by the state on property owners. The arrival of property tax is good for those who just need to buy houses. Property tax mainly affects people who own multiple properties, especially those who speculate in real estate. They have many houses, so whether they pay taxes according to the area or the number of houses, they have to pay more.

Because the house has to pay taxes, people who own multiple properties will put the extra houses on the market for sale, and those who want to invest in real estate speculation will not speculate again. There will be a large number of houses in the market. If the supply exceeds the demand, the house price will fall. For those who just need to buy a house, the cost of buying a house is reduced. Property tax can play a role in regulating the real estate market and make house prices return rationally.