The increment tax on land value is a new type of tax in China.

土地增值税是我国开征的一个新兴税种。

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Property taxes are assessed on market value, and if developed, the land would have contributed significantly to the county's overall annual tax revenue.

房产税是按市场价值评估的，如果开发这块土地，对县城每年的整体税收贡献很大。

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This low tax on land was part of the reason for the property bubbles in these countries, because untaxed land value was paid to Banks, which, in turn, lent it out to bid up prices all the more.

如此低的土地税，是催生这些国家房地产泡沫的部分原因，因为那些未征税的土地价值都支付给了银行，而银行又将其以贷款形式借出，进一步推高房价。

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For we do not have just the one tax, on rental value of land, which is undistortionary then all other taxes are distortionary to the same degree.

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It also argues for more taxes on property, such as a land value tax or a reformed council tax, to suppress rises in house prices.

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