Objecting to real estate tax is wrong

That’s one of the views presented by Professor Richard Peiser, Harvard Architecture School, at the HCMC Real Estate Market Development Forum held this morning  March 9.

Speaking on the viewpoint of the real estate taxation of HCM City, Professor Richard Peiser said: “I believe that the introduction of real estate taxation policy will certainly face opposition from investors. . As this is the heaviest tax levied on their property. However, the opposition of property owners / users is a very wrong view.

Because the value of real estate that they own / use depends very much on the ability to maintain the surrounding environment such as roads, utilities, public services … around. Meanwhile, funds to renovate the facilities for development of living environment from the budget of the local government. Once the living environment is well maintained, the value of the property in that place is even higher.

Therefore, according to Professor Richard Peiser, real estate tax revenue is needed to generate continuous revenue for local government in upgrading public services. Thanks to that the value of the property will be better developed.

The real estate market is affected by credit policies

At the conference, Head of the House Development and Real Estate Market – Mr. Phan Truong Son also said: Among the groups of tasks and solutions to develop the real estate market in the period 2016-2020, this content . Accordingly, it is recommended to study the Government to develop annual revenue collection mechanism for real estate and revenue from the added value of land and real estate acquired through invest in infrastructure and renovate urban…

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