Property tax revenue soared 89 percent to NT$17.4 billion (US$582.8 million) in the first six months of this year, buoyed by steep property price increases nationwide, which are expected to slow down in the coming months, as the central bank hiked interest rates, analysts said yesterday.
Taichung contributed the most to the revenue, with NT$3.55 billion, followed by New Taipei City’s NT$2.47 billion, Kaohsiung’s NT$2.3 billion, Taoyuan’s NT$1.91 billion, Taipei’s NT$1.81 billion and Tainan’s N$1.8 billion, Great Home Realty Co (大家房屋) said, citing data from the Ministry of Finance.
The spike in property tax revenue reflected housing price increases across Taiwan