Bridging land value capture with land rent narratives

Vejchodská, Eliška; Barreira, Ana Paula; Auziņš, Armands; Jürgenson, Evelin; Fowles, Steven; Malienė, Vida

doi:10.1016/j.landusepol.2021.105956

Cited by 11 publications

(4 citation statements)

References 80 publications

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“…Quotas on the percentage of the provision of enough housing opportunities for low-income households are examples of such quantitative goals (Fainstein 2014; Shahab, Hartmann, and Jonkman 2020). In addition, there are goals on land value capture aiming to find resources for public infrastructure provision from private resources (Medda 2012; Muñoz Gielen and Van der Krabben 2019) or for other needs (Alterman 2012; Vejchodská et al 2022).…”

Section: Perspective Of Efficiency and Equity In Connection To Land P...mentioning

confidence: 99%

“…These include land value taxes (Dye and England 2009), financial or in-kind developer obligations (Muñoz Gielen and Van der Krabben 2019) or taxes on added land value created by zoning like in Switzerland (Viallon 2018; Shahab and Viallon 2019). These instruments do not endeavour to affect land use but rather attempt to tackle the question of who pays for the necessary infrastructure or programmes for affordable housing and who should profit from relaxing zoning regulations with a normative presumption that private revenues from rising land value are unearned (Alterman 2012; Vejchodská et al 2022).…”

Section: Perspective Of Efficiency and Equity In Connection To Land P...mentioning

confidence: 99%

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Revisiting the Purpose of Land Policy: Efficiency and Equity

Vejchodská

Shahab

Hartmann

2022

Journal of Planning Literature

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Land policy influences how and by whom land is used; therefore, it impacts the efficiency and equity of land use. This paper offers an economic perspective on efficiency and equity as fundamental purposes of planning and land policy. It brings a highly needed mutual understanding between planning and economics, whilst acknowledging the limitations of the theoretical concepts of efficiency and equity in their real-world applications. The paper also provides a solid ground for analysing trade-offs between efficiency and equity of land policy interventions. Situations minimising trade-offs should be of particular interest as they provide opportunities for improvements without necessary sacrifices.

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Section: Perspective Of Efficiency and Equity In Connection To Land P...mentioning

confidence: 99%

Section: Perspective Of Efficiency and Equity In Connection To Land P...mentioning

confidence: 99%

Revisiting the Purpose of Land Policy: Efficiency and Equity

Vejchodská

Shahab

Hartmann

2022

Journal of Planning Literature

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“…Currently, there are two mainstream LVC strategies: taxbased and development-based LVCs [20,[30][31][32]. The taxbased LVC instruments are generally implemented by the American-style public finance system [33].…”

Section: Different Lvc Strategiesmentioning

confidence: 99%

Land Premium Effects of Urban Rail Transit and the Associated Policy Insights for TOD: A Case of Ningbo, China

et al. 2022

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With considerable investments, mainly from local government budgets, the construction and operation of urban rail transit (URT) can exert significant spillover effects on the surrounding land use and land prices. In particular, China’s local governments are actively committed to developing their URT systems and promoting large-scale transit-oriented development (TOD) projects under the public land leasing policy. However, the connection between the land premium effects and TOD policy and practice is still lacking, particularly in the local government contexts, which exhibit significant policy and spatial heterogeneity. Thus, this research represents an attempt to better address this issue using the city of Ningbo as a case study. First, the premium effects of URT on land prices are examined, after which three crucial policy insights (land value capture [LVC], public–private cooperation [PPC], and urban regeneration) are proposed to enhance the effectiveness and efficiency of TOD, demonstrating its strong connection with the potential premium effects. The findings demonstrate that (1) local governments have adopted different innovative policies—with the ambition—to implement LVC; (2) assisted by PPC, the local rail transit authority can significantly amplify the premium effects, although it must still address the fair distribution of premiums across multiple stakeholders; and (3) transit-oriented urban regeneration can significantly influence land prices/land rents and subsequently generate significant gentrification, which will be further addressed by the TOD policy and practice.

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“…Our analysis of PVC instruments will use the classification system first introduced by Hendricks et al [30]. He focuses on the increase in the value of land and property caused by public action, such as infrastructure provision (also see [31][32][33]) and the delivery of all kinds of public services (see also [34][35][36][37]). In such cases, PVC is legitimized in order to cover the expenses of public action.…”

Section: Introductionmentioning

confidence: 99%

Public Value Capture, Climate Change, and the ‘Infrastructure Gap’ in Coastal Development: Examining Evidence from France and Greece

Karadimitriou¹,

Guelton

Pagonis

et al. 2022

Sustainability

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This paper examines the role that two Public Value Capture (PVC) mechanisms could play in providing a source of funding for urban infrastructure in the case of two coastal areas in France and Greece. High development pressures in those areas have been exacerbated in recent times by the growing ‘informality of desire’. Therefore, in a context of climate change the two case study areas face the dual challenge of an increasing ‘investment gap’ and increasing vulnerability. Although the estimated costs are still based on approximate calculations, they are substantive. Using primary and secondary data, as well as analysis of the legal and policy framework, the paper shows that ‘informality of desire’ is not only tolerated but actually incentivised in both countries. This leads to substantial short-term financial benefits for private developers and property owners but also some gains for local authorities and central governments. However, the value captured via the legalisation fees and property taxation is not adequately ringfenced and in any case it is not enough to cover the infrastructure gap and the potential compensation in case of natural disasters.

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Bridging land value capture with land rent narratives

Cited by 11 publications

References 80 publications

Revisiting the Purpose of Land Policy: Efficiency and Equity

Revisiting the Purpose of Land Policy: Efficiency and Equity

Land Premium Effects of Urban Rail Transit and the Associated Policy Insights for TOD: A Case of Ningbo, China

Public Value Capture, Climate Change, and the ‘Infrastructure Gap’ in Coastal Development: Examining Evidence from France and Greece

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