Data collection begins in Taipei for luxury home tax

By collecting data on high-end properties, the city hopes to create a uniform standard for determining what constitutes a luxury residential building, said Taipei Revenue Service.

The agency listed several characteristics that luxury mansions must have. These include a single-building structure, the use of high-end construction materials, being located at attractive sections of the city, having great landscaping work, privacy, and the use of high quality security officials.

There are at least 5,000 residential buildings in Taipei that meet those criteria, including Star of Xinyi located in the heart of the Xinyi District near Taipei 101, and Emperor's Treasure at the intersection of Renai Road and Jianguo South Road.

The city will complete its first round of investigation by the start of the Lunar New Year break. Data collected will be discussed at a tax reform meeting in March.

Taipei Revenue Service stressed that the data collected will only serve as a reference, adding any tax imposed on luxury buildings will be reviewed by a panel of experts in August this year before its implementation.

Separately, Taipei Revenue Service is also reviewing whether to tax residential and commercial properties at street corners, the United Evening News reported.

Properties at street corners have higher value and should not be subject to low tax rates, the agency said.

The city's efforts are meant to achieve a fairer tax regime and to curb house prices from surging out of control, it said.

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