A significant rise in land prices in Japan has led to a record high in fixed asset tax collections. This upswing in tax inflow is due to the increased valuation of land across various cities and regions. Although the raise in land prices usually indicates a flourishing real estate market, it has also heightened the financial burden on property owners who face greater tax obligations.

Rising property taxes is a significant issue in Japan as many people are small landholders, and tax increases can pose substantial burdens. In Japan, the land is assessed by the government, and the recent surge in prices has reflected in increased tax collections. Japanese society values stability, so significant fluctuations in property prices and property-related taxes often spur public discussion and concern.

In the U.S or EU, rising house prices also translate into higher property taxes. However, there are often measures in place to prevent large tax increases that can unduly burden homeowners such as property tax caps or assessed value limitations. Property tax in the US, in particular, involves local governments heavily and is used primarily for funding public schools and local services.