Research shows that concern about the effect of taxes on economic growth and development is supposed to be noticed, because it is beneficial for the reasonable effective system design of property tax reform and the economic development in china. But today, there are few works that examine the impact of property tax on economy in China. Using the provincial data from 2001 to 2012 in china, this paper adopts AK model in the theory of endogenous economic growth and tax elasticity index to examine the economic effects, reveals the root of the influence as well as the industry influence from the current three main ideas of property tax reform. The result shows that the improvement of the property tax rate will not only give people negative effect which is greater than enterprise, but also keeps decreasing effect on enterprise investment. The root of economic impact is still derived from capital investment in the traditional factors of production. The consolidated tax will reduce the third industrial tax burden and increase the second industrial tax burden, especially influence on education, information, computer and software industry.