The Shanghai Municipal Commission of Housing and Urban-Rural Development, together with four other departments, jointly issued the “Notice on Further Optimizing and Adjusting the City’s Real Estate Policies.” The Notice stipulates that, effective January 1, 2026, if a child from a household with Shanghai household registration purchases a home that constitutes the only residence for the adult child’s family, the individual residential property tax will be temporarily exempted. Specifically, for homebuyers who jointly owned a home with their parents or grandparents while they were minors (or prior to the launch of the municipal pilot program for individual residential property tax), if the newly purchased or exchanged home in the city remains the sole residence of the adult child’s household (excluding the aforementioned jointly owned home), the individual residential property tax will be temporarily exempted. If a homebuyer’s household housing situation changes and meets the above conditions, they may reapply to the tax authority where the taxable property is located to file and verify personal residential property tax information. Taxation will be adjusted starting from the month following the tax authority’s re-verification, and any overpaid taxes for periods after January 1, 2026, will be refunded.