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LAND TAXATION AND ITS IMPACT ON LAND PRICE: The Case of Japan in the 1990s

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  • Koichi Mera

Abstract

The multifold increases in land prices in Tokyo, at first, and in other major cities of Japan, later, during the last half of the 1980s brought forth government proposals to strengthen the land holding taxes which were very low in the past. This paper analyzes the background of these developments as well as their rationales, and looks at possible consequences of planned increases in land holding taxes. It is argued that the rivalry between the Ministry of Finance and the Ministry of Local Autonomy is leading to a situation in which unexpectedly heavy land holding taxes will be imposed in the near future, lowering the price of land to much less than half of what it was in the past.

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  • Koichi Mera, 1992. "LAND TAXATION AND ITS IMPACT ON LAND PRICE: The Case of Japan in the 1990s," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 4(2), pages 130-146, July.
    • Handle: RePEc:bla:revurb:v:4:y:1992:i:2:p:130-146
    DOI: 10.1111/j.1467-940X.1992.tb00038.x
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    Cited by:

    1. Douglas Stone & William T. Ziemba, 1993. "Land and Stock Prices in Japan," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 149-165, Summer.

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