1. Real estate tax is calculated based on the residual value after 30% is deducted from the original value of the property. The annual tax rate is 1.2%. If there is no basis for the original value of the property, the tax authority where the property is located shall make a determination with reference to similar properties.

If the property is rented out, the tax is calculated based on the rental income of the property, and the annual tax rate is 12%.

2. Henan Province real estate tax collection standards and details:

Article 1, according to the "Provisional Regulations of the People's Republic of China and the State on Real Estate Tax" (hereinafter referred to as the Regulations) , combined with the actual situation of our province, these implementation rules are specially formulated.

Article 2: Property tax is levied in cities, counties, and industrial and mining areas, but not in rural areas. Whether and when to levy property tax in incorporated towns shall be determined by the provincial and municipal people's governments and regional administrative offices.

The taxpayer of real estate tax (hereinafter referred to as the taxpayer) shall comply with the provisions of Article 2 of the Regulations.

Article 3. Real estate tax is calculated based on the residual value after 30% is deducted from the original value of the real estate. The annual tax rate is 1.2%. If there is no basis for the original value of the property, the tax authority where the property is located shall make a determination with reference to similar properties. If the property is rented out, the tax is calculated based on the rental income of the property, and the annual tax rate is 12%.

Article 4. The following properties are exempt from property tax:

(1) Properties listed in Article 5 of the "Regulations".

(2) Real estate used by schools, hospitals, kindergartens, and staff canteens run by industrial and mining enterprises for their own use.

(3) The property used by the nursing home run by the trade union for its own use.

(4) Other tax-exempt properties approved by the Provincial Department of Finance.

Article 5 In addition to what is stipulated in Article 4 of these detailed rules, if taxpayers really have difficulty paying taxes, the people's government of the provincial municipality or the regional administrative office may determine that the property tax be reduced or exempted on a regular basis.

Article 6 Real estate tax is collected annually and paid quarterly. The specific payment time is determined by the city and county tax bureau.

Article 7 Real estate tax shall be levied by the tax authority where the property is located.

Article 8 The collection and management of property tax shall be handled in accordance with the "Interim Regulations of the People's Republic of China on Tax Collection and Management".

Article 9 The Provincial Department of Finance is responsible for the interpretation of these detailed rules.

Article 10 These detailed rules shall come into effect on January 1, 1987.