Are a bunch of people being taxed for selling their houses? The combined real estate and land tax is expected to reach RMB 50 billion for the whole year. The tax on house sales in this county and city has soared by 50%.

According to statistics from the Ministry of Finance, in the first ten months of this year, the combined tax revenue from personal real estate and land has reached 43.3 billion yuan, and is expected to reach the 50 billion yuan mark for the whole year; tax revenue in October was 4.77 billion yuan, an annual increase of 10%, of which Taichung City was 1.03 billion yuan, an annual increase of 50%, the largest increase among counties and cities.

Statistics show that in the first ten months of this year, the combined tax revenue from real estate and land was 43.3 billion yuan, an increase of 10% year-on-year. In the first ten months of this year, the tax revenue from the combined real estate and land revenue for individuals reached 43.3 billion yuan, and it is estimated that it will exceed 50 billion yuan for the whole year. Judging from the performance in October, New Taipei City is still the top tax payer. The combined personal real estate and land tax is 1.37 billion yuan, an annual increase of 13%. The largest increase is in Taichung City, which is 1.03 billion yuan, an annual increase of 50%. Taipei City is 500 million yuan, an annual increase of 18%, Taoyuan City, an annual decrease of 14%, Tainan City, a 14% annual decrease, and Kaohsiung City, an annual decrease of 10%.

Zeng Jingde, project manager of the Xinyi Housing Real Estate Enterprise Research Office, said that in recent years, the number of cases of paying the 20% real estate and land combined tax in a single quarter has exceeded 10,000, which reflects that it is more common to sell after holding for 5 years. The tax rate is mainly the most cost-effective to hold for 5 years. In the past five years, housing prices have experienced two waves of increases, including the post-epidemic surge in construction costs and inflation. In addition, New Qing'an 2.0 has started another wave of increases. Judging from the holding time, many of these 20% transactions should be part of the post-epidemic purchase wave.

Zeng Jingde said that after the sharp rise in housing prices from 2020 to 2024, some people may face a considerable combined house and land tax burden when they want to sell their houses. It is recommended to make tax-saving plans in advance, including taking advantage of the 4 million tax exemption for self-occupied and registered for six consecutive years. Since the combined house and land tax is considerable, the tax authorities also publicize common erroneous declarations. People should fully understand the conditions of self-occupied and registered for six consecutive years, and have actual residence facts, etc., in order to be able to save taxes smartly.