【正文】 of the property: t = T/V. ? Substitution for V gives the relationship t = at. Hence, the effective tax rate is a bination of the nominal tax rate and the assessment ratio. Evidence from USA Re si d e n t i al P r op e r t y T ax Rate s i n S e l e c t e d Cities (1998)Nomi na l t a x ra t e Ass e ss ment R a t i o Ef f e c t i ve t a x ra t eCity ( %) ( %) ( %)Mi l wa ukee , W i s. De t r oi t , Mi c h. F a r g o, N. Da k. C oul um bi a , S .C . C hi c a g o, I l l . W a sh i ng t on, . S o u r ce : G o v er n m en t o f D th e Dis tr ict o f Colu m b ia, Tax R a te a n d Ta x B u r d en :A N atio n w id e C o m p ar is o n , 1 9 9 8 , T ab le 4 , p .1 9 .More Evidence from USA R es i dent i a l P ro pert y Ta x R a tes in Se l ect ed C i ti es (1 9 9 5 )Ef f e c t i ve t a x ra t eCity ( %)B r i dg e port, C T Ne wa r k, NJ M i l wa ukee , W I De s M oi ne s, I A Hous t on,TX P hi l a de l phi a , P A J a ks onv i l l e , F L P hoenix , AZ P ortl a nd, OR C hi c a g o, I L M e m phi s, TN B os t on, M A M i nnea pol i s, M N Ne w Yor k C i t y , NY L os Ang e l e s, C A S o u r ce : S ta tis tica l A b s tr a ct o f th e Un ited S ta tes 1 9 9 7 , T ab le 4 9 7 .Country Tax Base Nominal Tax Rate Estimated Effective Tax Rate Austria Assessed standard value Basic Federal rate of % % Finland Taxable value %~% % France Notional rental value Certain coefficients to half % Germany Taxable value % federal rate Municipal coefficient:~6 % on average (%~%) Greece Assessed value Progressive rate %~% (State) %~%(local) % Italy Imputed rental ine %~% % Netherlands Public valuation %~% % Portugal Valuation code %~% 1% Spain Cadastral value % urban, % rural % Evidence from EU SplitRate Property Tax System in Taiwan ? Taiwan’s property taxes on the value of real estate currently include taxes on both the value of land and the value of its improvements (. building attached to the land). ? Tax on the value of land is called Land Value Tax地價(jià)稅 . ? Tax on the value of building attached to land is called house tax房屋稅 . Taiwan’s Property Taxes Narrowly defined property tax Broadly defined property tax Land Value Tax 地價(jià)稅 Land Value Tax 地價(jià)稅 House Tax 房屋稅 House Tax 房屋稅 Estate, Inheritance and Gift Tax遺產(chǎn)贈(zèng)與稅(中央 ) Deed Tax 契稅 Security Transaction Tax證券交易稅 (中央 ) Future Transaction Tax 期貨交易稅 (中央 ) Stamp Tax 印花稅 Land Value Incremental Tax土地增值稅 (房屋增值稅納入綜合所得稅 ) License Use Tax 使用牌照稅 Taiwan Tax System Land Value Tax (LVT) ? Land value tax is an ad valorem tax in which only the land value is taxed. Both buildings and improvements are ignored. ? It is imposed on the land that has been assessed and assigned a value. However, there are no land value taxes on farmlands. Land Value Assessment Commission ? Local levels of government are supposed to establish a “Land Value Assessment Commission”. The mission has to make public announcements on their assessments of land values by section and lot based on data submitted by the land administrationincharge. Legal Declaration Process ? Land owners ought to declare their land value. ? If an owner does not declare the land value or his declared value is less than 80% of posted value, then the official declared value should be adjusted to 80% of posted value. On the other hand, if the declared value is more than 120% of posted value, the official declared value should be adjusted to 120% of posted value. Land Value Tax Rates ? There are two rates for land value tax: regular progressive tax rate and privileged rate. ? The progressive rates are ranged between 1% and %. ? It is tax free when the value of land is lower than the starting threshold (ST). However, if the land value is more than 20 times of s