1.90m2 for the first purchase, the deed tax shall be paid at 1%;

2. Business tax is the exemption of house property rights for five years, and it is paid at 5.5% of the house price for less than five years;

3. The land value-added tax is free of property rights for five years, and is paid at the rate of 1% of the house price for less than five years;

4. Income tax is the applicable proportional tax rate, calculated at 20%.

For ad valorem, the tax basis is the residual value after deducting 10%-30% from the original value of the property. Its calculation formula is as follows.

Taxable amount calculated according to the original value of real estate ×( 1- 10% or 30%)× tax rate (1.2%).

Rent collection (that is, real estate rental) is based on the rental income of real estate. The specific reduction range of ad valorem 10%-30% shall be determined by the people's governments of provinces, autonomous regions and municipalities directly under the central government. Property tax rate adopts proportional tax rate.

If assessed according to the residual value of the property, the annual tax rate is1.2%; If assessed according to the rental income of real estate, the annual tax rate is 12%. Its calculation formula is as follows.

Taxable amount calculated according to real estate rental income × tax rate (12%). The property tax is calculated and paid according to the residual value after deducting 10% to 30% from the original value of the property. The specific scope of relief shall be stipulated by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government. If there is no original value of real estate as the basis, it shall be verified by the tax authorities where the real estate is located with reference to similar real estate. If the real estate is leased, the rental income of the real estate shall be the tax basis of the property tax.

Legal basis: Provisional Regulations of People's Republic of China (PRC) Municipality on Property Tax.

Article 3 Property tax shall be calculated and paid according to the residual value after deducting 10% to 30% from the original value of the property. The specific scope of relief shall be stipulated by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government. If there is no original value of real estate as the basis, it shall be verified by the tax authorities where the real estate is located with reference to similar real estate. If the real estate is leased, the rental income of the real estate shall be the tax basis of the property tax.

Article 4 The tax rate of property tax is 1.2% based on the residual value of the property and 12% based on the rental income of the property.