地方财政收支矛盾

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上半年房产税逆势增长12%
第一财经· 2025-08-08 03:07
2025.08. 08 本文字数:1511,阅读时长大约3分钟 作者 | 第一财经 陈益刊 在楼市低迷之下,房产税收入却逆势增长。 根据财政部最新数据,2025年上半年,全国房产税收入2618亿元,同比增长12%。这一增速明显高于同期全国税收收入增速(-1.2%),也高于同期 与房地产关联密切的契税(-14.8%)和土地增值税收入(-17.6%)增速。 房产税于1986年开征,是以房产为征税对象,依据房产价格或房产租金收入向房产所有人或经营人征收一定比例的税,目前除了重庆和上海外,不对 个人自用住宅征税。为何上半年房产税逆势增长? 一些地方财政部门给出解释,主要是征管强化导致增收。 福建省财政厅近日公布的《2025 年上半年全省财政预算执行情况》称,当地上半年房产税 73.69 亿元,增长 13.7%,主要是税务部门加大部分领域 房产税征缴力度。 新疆维吾尔自治区财政厅近期公布的《关于2025年上半年自治区预算执行情况的报告》显示,今年上半年新疆房产税累计完成 40.6 亿元,同比增长 17.9%,主要是各级税务部门加大税收收入组织力度。 吉林省财政厅数据显示,今年上半年涉房涉土税收收入97.4亿元(房产税、 ...
上半年房产税逆势增长12%,征管强化是重要因素
Di Yi Cai Jing· 2025-08-08 02:40
Core Insights - In the first half of 2025, property tax revenue surpassed deed tax and land value increment tax, becoming the largest source of revenue among land and real estate-related taxes [1][2]. Revenue Performance - National property tax revenue reached 261.8 billion yuan in the first half of 2025, marking a 12% year-on-year increase, significantly higher than the overall national tax revenue growth rate of -1.2% and the declines in deed tax (-14.8%) and land value increment tax (-17.6%) [2]. - Property tax revenue growth is attributed to enhanced tax collection efforts by local fiscal departments, with notable increases reported in regions such as Fujian (13.7% growth) and Xinjiang (17.9% growth) [2][3]. Tax Management Improvements - Local governments have utilized big data and improved tax management practices to enhance property tax collection, addressing issues such as low-quality data and tax assessment inaccuracies [4]. - For instance, the Zhengzhou Airport Economic Comprehensive Experimental Zone reported a 36.42% increase in property and land taxes collected from January to July 2025, aided by online data comparisons and risk audits [4]. Fiscal Context - Despite the growth in property tax revenue, the overall fiscal environment remains challenging, with significant declines in deed tax and land value increment tax exacerbating local fiscal pressures [4][5]. - In 2024, the combined revenue from deed tax and land value increment tax was approximately 1,001.6 billion yuan, a decline of about 30% from the peak in 2021 [5]. - Local government budget data indicates a slight increase in general public budget revenue (1.6%) and a more substantial increase in expenditures (2.6%) for the first half of 2025, highlighting ongoing fiscal challenges [6].
上半年地方发债超5万亿元,这些资金投向了哪里
第一财经· 2025-07-03 15:15
Core Viewpoint - The article highlights the accelerated issuance of local government bonds in China during the first half of the year, with a total issuance of approximately 5.5 trillion yuan, reflecting a year-on-year growth of about 57% [1][2]. Group 1: Bond Issuance Overview - In the first half of the year, local government bonds were issued at a rapid pace, with new bonds accounting for approximately 2.6 trillion yuan, a year-on-year increase of 43%, while refinancing bonds reached about 2.9 trillion yuan, growing by approximately 73% [1][2]. - More than half of the funds from local government bonds were used for refinancing old debts, which alleviated current fiscal pressures and allowed local governments to focus more on development and public welfare [2]. Group 2: Fund Allocation and Project Focus - The newly issued special bonds, totaling around 2.2 trillion yuan, were primarily directed towards infrastructure and public welfare projects, with significant allocations to municipal and industrial park infrastructure (28%), transportation projects (19%), and land reserve projects (11%) [3]. - The government has allowed special bonds to be used for land reserve projects to stabilize the real estate market, leading to increased funding in this area [3]. Group 3: Debt Management and Financial Health - The average issuance term of local government bonds has extended to 16.4 years, with an average interest rate of 1.95%, lower than the previous year's rate of 2.29%, which helps reduce financing costs [4]. - As of May 2025, the total local government debt stood at 51.25 trillion yuan, remaining within the limit of 57.99 trillion yuan, indicating that debt risks are generally manageable [4]. - The Ministry of Finance plans to expedite the issuance of long-term special bonds to support economic stability and growth, with expectations for increased issuance in the third quarter [4].
上半年地方发债超5万亿元,这些资金投向了哪里|财税益侃
Di Yi Cai Jing· 2025-07-03 12:06
Group 1 - In the first half of the year, local government bond issuance accelerated, with a total of approximately 5.5 trillion yuan issued, representing a year-on-year increase of about 57% [1][2] - New special bonds issued amounted to approximately 2.2 trillion yuan, a year-on-year increase of 45%, while refinancing bonds reached about 2.9 trillion yuan, up approximately 73% [1][2] - More than half of the funds from local government bonds were used for refinancing old debts, which alleviated current fiscal pressures and allowed local governments to focus more on development and livelihood projects [2][3] Group 2 - The issuance of refinancing bonds was driven by two main factors: the replacement of hidden debts and the reliance on refinancing bonds to repay about 90% of maturing local government bond principal [2][3] - The average issuance term of local government bonds has continued to extend, with an average interest rate of 1.95%, significantly lower than the previous year's level of 2.29%, which helps reduce financing costs [9][10] - The Ministry of Finance has indicated plans to expedite the issuance of long-term special bonds and local government special bonds to support economic stability and growth [10]