Chongqing will levy a property tax on existing and newly built high-end commercial residential buildings, Shanghai Securities News reported Thursday, citing the city's Mayor Huang Qifan.

Related readings:  Shanghai gets OK for property tax  Chongqing gov't seeks to impose property tax  Chongqing to launch 'high-end' property tax  Chongqing could be among 1st cities to impose property tax

But Huang did not disclose criteria for "high-end," nor did he reveal the tax rate, the paper said.

The paper said the southwest municipality is likely to impose a 1 percent tax on housings above 200 square meters, or those valued at three times the price of average housing in the downtown area.

A previous China Daily report said that Shanghai has gotten the green light for its property tax, though details of the city's tax scheme have not been made public.

But Chen Jie, vice director of Fudan University's Real Estate Research Center, said there will be three fundamental elements in Shanghai's property tax scheme: the tax will be levied on new buildings only, per capita area between 60 – 70 sq m would be tax deductible, and the tax rate is to be around 0.5 percent to 0.6 percent.