房地合一課徵所得稅制實施前後對臺中市房地產之影響

The Effects of Integrated Housing and Land Taxation on the Taichung Housing Market

近年來房價飆漲的速度已遠過超人民所得水準的成長幅度，民眾購屋負擔遽增，造成許多民怨。政府為了消除民眾對高房價不滿的聲浪，解決房地產投機炒作行為，落實居住正義，先後於2011年6月1日實施課徵「特種貨物及勞物稅條例」、2012年8月1日實施「不動產成交案件實價資訊申報登錄」及2016年1月實施「房地合一課徵所得稅」等政策，其目的皆係為了達到租稅公平、健全房地產交易市場。而房地合一課徵所得稅之實施，為我國不動產稅制之重大變革，其所牽動現行不動產稅制非常深廣，因此本研究主要探討該稅制自2016年1月1日實施後臺中市之六大行政區（大里區、太平區、北屯區、西屯區、南屯區及豐原區）買賣移轉棟數及平均住宅單價之影響。實證研究結果顯示，平均買賣移轉棟數於房地合一課徵所得稅制實施前1年與實施後相較，大多不顯著，即交易量並無明顯下降。但實施前2年之各地區買賣移轉棟數與實施後相較，全部皆達5%顯著水準，表示該稅制自研議修法已造成交易量之變化，房地產受預期稅制影響，交易量明顯呈現萎縮現象。但平均住宅單價於房地合一課徵所得稅制實施後並未有顯著下降，其主要原因可能是由於國內房產投資市場仍集中於北部地區，故中部地區相對於房價高漲的北部市場而言，受政府實施打房政策影響較不明顯。

The rising property prices have caused a lot of complaints from the society over recent years. In order to appease the public and curb the speculation in the real estate market, the Taiwanese government implemented the integrated housing and land taxations in January 2016. The purpose was to achieve taxation fairness and rectify the housing market. This paper examines the impact of the integrated housing and land taxations since January 1, 2016 on the number of transactions and the average selling price per unit in the six administrative zones in Taichung City (i.e. Dali, Taiping, Beitun, Xitun, Nantun and Fengyuan). The empirical study indicates that the average number of transactions has not changed much one year before and after the effectiveness of the new taxation scheme. In other words, the trading volume did not show a significant decline. However, the change in the number of transactions across the administrative zones two years before and after the new system is statistically significant. This suggests a noticeable reduction in trading volumes due to the expectation of the new tax regime two years in advance. However, the average selling price per residential unit did not show any significant decline after the implementation of the integrated housing and land taxation. This is possibly because investors in the real estate market in Taiwan focus on the northern region. Therefore, the effects of the housing policies are muted in the central region are muted, in comparison with the northern region where property prices are high.