房地产税的财富再分配效应:基于财富结构分层和税制要素的模拟分析

The Effect of Property Tax on Wealth Distribution:A Simulation Analysis Based on Wealth Structure Stratification and Taxation Elements

尽管房地产税的税基是住房财富,但学界关于中国房地产税对财富分布影响及其内在机制的量化测算并不多见。本文基于财富结构分层和不同的税制要素对房地产税的财富再分配效应进行模拟分析,研究发现:由于财富水平较低的家庭房产财富占比相对更高,如果政府开征房地产税且不将其用于基本公共服务,则房地产税对财富分布会有一定的逆向调节作用,反而使得财富不平等程度上升。如果政府将房地产税用于基本公共服务,在无减免的税制设计下,则家庭财富不平等程度会下降5%-10%。房地产税的财富再分配效应不是来自收税环节,而主要来源于其所提供公共服务的资本化效应,因此,减免越多,其财富再分配效应越弱。本文结论佐证了房地产税在实现价值捕获中的重要意义,我们在强调房地产税财富再分配效应的同时,还需要充分考量其削弱受益税属性的潜在成本。

Although the tax base of property tax is housing asset,the quantitative research about the impact and the internal mechanism of property tax on wealth distribution is rare in the context of China.Based on the wealth stratification and different taxation elements,this paper analyzes the wealth redistribution effect of property tax.The study finds that:since the proportion of housing asset in families with low wealth levels is relatively higher,if the government imposes property tax and the property tax is not used for public services,it will have a negative moderation effect on the wealth redistribution,increasing the wealth inequality.If the property tax is used for public services,under the tax design without relief,the household wealth inequality will be reduced by 5%-10%.The wealth redistribution effect of property tax does not come from tax collection,but mainly from the capitalization of public services;thus,the more generous the exemption,the weaker redistributive effect the property tax.The conclusion of this paper supports the importance of property tax in realizing value capture;while emphasizing the wealth redistribution effect of property tax,we also need to fully consider the potential cost of eroding the attribute of benefit tax.