The new tax will be levied on residential and non-residential property, but not to rural residences.
An earlier pilot scheme was implemented in 2011 in two cities at rates from 0.4% to 1.2% on higher-end housing and second homes, and has not as yet been applied in more cities.
An earlier pilot scheme was implemented in 2011 in two cities at rates from 0.4% to 1.2% on higher-end housing and second homes, and has not as yet been applied in more cities.