By Wang Yang, Sina English

The expansion of the much-concerned property tax pilot program to include more cities might be delayed, according to a high-level forum held on Jan 12th.

Wang Kang, Chief accountant of the State Administration of Taxation, explained at the 11th China Development Forum that despite the ceaseless efforts by various departments under the State Council on the property tax trial, the country still needs more time before hammering out a feasible plan.

Wang highlighted the significance of a well-organized property tax system on the nation's economy and the people's well-beings, saying a larger scale of discussion will be need to decide how to best carry out the program.

“The levy of property tax will be imperative in the long run.” Nie Meisheng, the honorary chairman of the China Real Estate Chamber of Commerce (CRECC), aired his support for the delay in an interview: “With the absence of relevant legislations on such taxes, it would be better to hold the expansion until a solid foundation has been laid.”

Another influential figure in the Chinese real-estate industry, deputy head of the China Real Estate and Housing Research Association Gu Yunchang, also believed that the property tax pilot program launched in Shanghai and Chongqing last year hasn't done enough to bring down the soaring home prices.

Earlier this year the Chongqing Municipal Government unveiled a controversy plan to raise the city’s property tax threshold, which was considered by many people as an ill-advised decision that might further lift the local housing prices.