Don't bet your house on China's property tax just yet

Hong Kong

IGNORE the noise. You might not think so from the headlines, but China's long-delayed property tax is probably still at least three years away.

The concept of a levy on homeowners collected by local authorities is certainly gaining currency.

Premier Li Keqiang said China "will steadily push forward legislation", in his annual report to the National People's Congress on Monday.

The tax may be based on appraisal value, Vice Finance Minister Shi Yaobin said two…