A Study on the Desirable Real Estate Tax as Main Local Tax in the Aged Society

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The recent government's policy to equalize assessment ratio of land for local real estate tax purpose has made the taxable land price close to the market one. We show it causes increase in disparities of real estate tax revenue among municipalities and increase in tax burden of elderly taxpayers, whose number is increasing in our aging society. Although these should be taken into consideration in the real estate tax reform, equity in benefit taxation is important too. We conclude that fiscal autonomy in taxation be strengthened to solve this problem.