Institutional barriers to financing transit-oriented development in China: Analyzing informal land value capture strategies

Wang, Jinshuo; Samsura, D. Ary A.; Krabben, Erwin van der

doi:10.1016/j.tranpol.2019.07.010

Cited by 36 publications

(16 citation statements)

References 51 publications

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“…Overall, LVC has spread from well-established markets, where tax-based mechanisms are used, to some flourishing markets, where land-centered financing practices are popular for mobilizing different resources to fund large-scale public infrastructure [1,16]. As Mathur [10] points out, to enhance the cooperation among stakeholders in LVC, inclusive value creation should be enabled to properly share the increased land value among public agencies, transit agencies, private real estate developers, and residential communities [18]. This inclusive strategy calls for a transparent and efficient policy that targets all involved stakeholders, but also a diversified way of generating land revenues, i.e., existing property appreciation, new transit-oriented developments, and so on [10].…”

Section: Literature Review 21 Land Value Capturementioning

confidence: 99%

Deciphering Property Development around High-Speed Railway Stations through Land Value Capture: Case Studies in Shenzhen and Hong Kong

Gong

2021

Sustainability

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Property development around transit stations has been viewed by many governments as a considerable way of financing public transportation. However, despite mounting evidence of the positive relationship between transport investment and proximate land value, the stakeholder relationship in enabling complex property–transit development has received relatively scarce attention. In this study, we analyze the railway financing strategies in two cities (Shenzhen and Hong Kong) connected by the first cross-border high-speed rail (HSR) network in China. Using a holistic power approach, this study presents power direction, power strength, and power mechanism as the critical factors for each case. The results reveal that different stakeholder relations arising from different social and institutional contexts have led to varying land value capture practices. The findings of this study contribute to sustainable railway financing in three phases: First, it unravels the relationship between railway financing and property development under the context of an intercity railway program, with the intervention of state power. Second, it sorts out critical elements in the implementation of the land value capture mechanism, especially institutional factors such as the role of the transit agency. Third, it directs a flexible development of the land value capture theory to cope with foreseeable problems such as land resource scarcity, institutional complexity, and interest divergence.

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Section: Literature Review 21 Land Value Capturementioning

confidence: 99%

Deciphering Property Development around High-Speed Railway Stations through Land Value Capture: Case Studies in Shenzhen and Hong Kong

Gong

2021

Sustainability

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“…This framework reserves necessary placeholders for further research in the future. Cadgas, Kara et al substantially extended the land valuation and taxation extension classes and proposed the fiscal extension module on the basis of an in-depth study of international and European valuation and geographic information standards [8][9][10][11][12][13][14][15][16][17]. The following section briefly reviews the core and extension classes of LADM and the core classes in the fiscal extension module.…”

Section: Review Of Existing Information Modelsmentioning

confidence: 99%

“…[8] ExtValuation and ExtTaxation are extended to FM_Valuation and FM_Taxation. Numerous attributes and methods related to valuation and taxation are added into the core classes according to the technical requirements of the international and European valuation regulations [8][9][10][11][12][13][14][15][16][17]. The fiscal extension module adds several core classes that correspond to the core classes in LADM.…”

Section: Core Classes Of the Fiscal Extension Modulementioning

confidence: 99%

“…Some auxiliary classes are added in the fiscal extension module to enhance technical support for land valuation (see Figure 4) [8][9][10][11][12][13][14][15][16][17]. FM_Valuation derives two subclasses, namely, FM_SinglePropertyValuation and FM_MassPropertyValuation, which are used to support the appraisal of single and block real estate, respectively.…”

Section: Core Classes Of the Fiscal Extension Modulementioning

confidence: 99%

“…On the other hand, the opening up of the land market has brought the urgent practical problem of rapidly widening income gap between the rich and poor [12]. Therefore, land taxation should be implemented to determine land value appreciation for investing in the construction of public facilities for public benefits, which is conductive to achieving social justice and sustainable development [13][14][15]. Although a strong practical demand exists, the relevant research on land valuation and taxation information model proposal remains insufficient.…”

Section: Introductionmentioning

confidence: 99%

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Towards a Valuation and Taxation Information Model for Chinese Rural Collective Construction Land

et al. 2019

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To promote rural revitalisation, China's central government revised the land administration law to allow rural collective construction land (RCL) to be traded in the market and attract private and financial capitals into rural investment and development. However, the land value appreciation income of the market access is closely related to geographical location. Hence, the value appreciation of RCL is enormous in villages around cities and towns. By contrast, the land value appreciation of RCL is low in villages away from cities and towns. This marked difference will lead to a significant impact on the rural social structure. To avoid the excessive widening of the income gap in rural areas, China's central government attempted to conduct land value capture by revising and implementing land tax laws and reasonably distributing the value appreciation income of market access amongst the state, collectives and individuals. In response to the requirements of land reform, this study firstly identifies the legal constraints on the taxation of RCL in China through the structured retrieval and organisation of legal documents on land taxation. Thereafter, the technical constraints are analysed through the structural retrieval and organisation of the technical specifications of China's land valuation. Lastly, this study proposes a land administration domain model (LADM) valuation and taxation information model on the basis of the aforementioned constraints. The major contents of the proposed model encompass improving the information management of taxpayer identity registration, supplementing land valuation methods and strengthening valuation information of the large-scale influencing factors. The proposed model is the technical basis to prompt the interconnection between the real estate registration and real estate taxation systems, which will be conducive to the efficient collaboration of the two systems.

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Land Value Capture and Its Large‐Scale Application in Northeast Asia

AVELINE‐DUBACH

2023

Globalization and Dynamics of Urban Production

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Institutional barriers to financing transit-oriented development in China: Analyzing informal land value capture strategies

Cited by 36 publications

References 51 publications

Deciphering Property Development around High-Speed Railway Stations through Land Value Capture: Case Studies in Shenzhen and Hong Kong

Deciphering Property Development around High-Speed Railway Stations through Land Value Capture: Case Studies in Shenzhen and Hong Kong

Towards a Valuation and Taxation Information Model for Chinese Rural Collective Construction Land

Land Value Capture and Its Large‐Scale Application in Northeast Asia

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