Expropriation of property tax is an important step of fiscal taxation reform in our country. The paper inducted the purposes of property tax in each country, systematically analyzed the domestic research on property tax and conducted the empirical analysis on the influence of property tax expropriation on real estate market,based on the statistics of 2009-2010. The result showed the property tax reform can adjust local taxation structure, but the influence on real estate price was limited. Besides, the property tax policy can conduct a positive incentive in local public service system construction. At last, the paper put forward strategic suggestions on how to implement property tax policy successfully, especially in real estate market management, tax base evaluation and other aspects. <<