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。