The attempts to rein in China's red hot property market continue. Lawmakers in Shanghai, Beijing and Chongqing say they want to introduce a property tax on the value of some larger properties in an attempt to cool the market there - and bolster government coffers.

It's the latest in a series of measures to try to slow soaring property costs, including higher down payments, higher interest rates and a ban on lending for third-home purchases.

But prices have continued to jump. Official data showed real estate prices in 70 cities jumped 12.8 percent in April, the fastest year-on-year rise for a single month in five years. 

So is a property tax the way to go? Will it finally slow the runaway real estate market or just put an added burden on new home-owners. That's a question we put to people in today’s Straight from the Street. 

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