2.20 16 New Deal: For the formal house purchase contract signed after February 22nd, 20 16 (in some provinces, the time of declaration and payment shall prevail), if the area of the only family house (family members including the house buyer, spouse and minor children) purchased by individuals is less than 90 square meters, the deed tax shall be levied at the reduced rate of 1%; If the area is over 90 square meters, the deed tax shall be levied at the reduced rate of 1.5%. For individuals who purchase a second set of improved family housing with an area of 90 square meters or less, the deed tax will be levied at a reduced rate of 1%; If the area is more than 90 square meters, the deed tax shall be levied at a reduced rate of 2%.