Land-Use Regulations and Property Values: The “Windfalls Capture” Idea Revisited

Alterman, Rachelle

doi:10.1093/oxfordhb/9780195380620.013.0034

Cited by 126 publications

(177 citation statements)

References 3 publications

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“…However, if we look at the case of Bari, the construction bills (more less 27 millions of euros) account for one third of the sum of increase of stock value in five years of land transition to residential (more less 72 millions of euros in Table 16). The effect can be considered just a "windfall" [39]: a simple betterment with unsatisfying environmental compensation [40]. These measures were applied in the past for residential and productive settlements and, nowadays, are utilized for some touristic villages and small industrial settlements, but the main growth (more than 50% of the total) was in energy production, representing a prevailing new form of artificial coverage.…”

Section: Discussionmentioning

confidence: 99%

Saving Soil for Sustainable Land Use

2017

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This paper experiments with some costs-benefit analyses, seeking a balance between soil-take and buildability due to land policy and management. The activities have been carried out inside the MITO lab (Lab for Multimedia Information for Territorial Objects) of the Polytechnic University of Bari. Reports have been produced about the Southern Italian Apulia Region, which is rich in farmland and coastline, often invaded by construction, with a severe loss of nature, a degradation of the soil, landscape, and ecosystem services. A methodological approach to the assessment of sustainability of urban expansion related, on one hand, to "plus values" deriving from the transformation of urban fringes and, on the other hand to the analysis of the transition of land-use, with the aim of "saving soil" against urban sprawl. The loss of natural and agricultural surfaces due to the expanding artificial lands is an unsustainable character of urban development, especially in the manner in which it was carried out in past decades. We try to assess how plus value can be considered "unearned", and to understand if the "land value recapture" can compensate for the negative environmental effects of urban expansion. We measured the transition from farmlands and natural habitat to urbanization with the support of the use of some Geographic Information Systems (GIS) tools, in favor of a new artificial land cover in the region of Apulia, Southern Italy. Data have been collected at the regional scale and at the local level, producing information about land use change and increases of property values due to improvements, referring to the 258 municipalities of the region. Looking at the results of our measurements, we started an interpretation of the driving forces that favor the plus values due to the transition of land-use. Compensation, easements, recapture of plus value, and improvement are, nowadays in Italy, discussed as major land-policy tools for managing environmental and landscape preservation. The interplay between urban economics and environmentally sound regulations reveals some controversial issues in urban governance and nature preservation: perhaps some abstract regulations, conjoined with non-case-oriented urban policies, consider these keywords as the old chemists considered the Philosopher's Stone. The analyses show criticality emerging themes in emblematic cases, studied in some municipal contexts.

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Section: Discussionmentioning

confidence: 99%

Saving Soil for Sustainable Land Use

2017

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“…These "unearned increments" may be captured indirectly through their conversion into public revenues as taxes, fees, exactions or other fiscal means, or directly through on-site improvements to benefit the broader community (Alterman, 2011). In principle, there is a connection between spatial planning and land value because any improvements to neighborhoods, local infrastructure and services are reflected in appreciating value to any of the land affected by these changes.…”

Section: Types Of Value Capturementioning

confidence: 99%

“…The international value capture literature continues to discuss various aspects of value capture, most notably: (1) the rationale behind value (Alterman, 2011;Rodríguez-Bachiller, Thomas, & Walker, 1992); (2) the effectiveness of tools and mechanisms for value capturing (Huxley, 2009;Smolka, 2013b;Smolka & Amborski, 2000;Tira, Van der Krabben, & Zanon, 2011;Van der Krabben & Needham, 2008;Walters, 2012); (3) how much value can be captured (Cervero, 1994;Smith & Gihring, 2006); and (4) the institutionalization of value capture in planning regulation and land law (Alexander, 2012). Alterman (2011) distinguishes three important sets of policies that influence value capture: (1) macro-economic policy, (2) direct regulation, and (3) indirect instruments.…”

Section: Types Of Value Capturementioning

confidence: 99%

Collaborative development: Capturing the public value in private real estate development projects in Ho Chi Minh City, Vietnam

Nguyen

Krabben

Spencer

2017

Cities

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A B S T R A C TThis article addresses a relative gap in the literature on real estate development and property rights in transitional economies, particularly on the "shadow" role of private developers in urban management at the local level. The paper argues that the development of high-rise buildings in Vietnam resulted from the national privatization policy shift known as Doi Moi that gave landowners greater rights. These changes in land rights policy are important constitutive elements for institutional functionality of value capture via privatization of land, to become viable and effective. Further, the paper describes how private developers (foreign and domestic) take advantage of vague and indistinct city governance regarding privatization of land, while the property rights of the original users of the land are insufficiently protected. These issues are illuminated and analyzed through the use of three case studies of commercial projects in Ho Chi Minh City. We suggest a further institutionalization of privatization of land and value capture in Vietnam.

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“…In any case, the potential for development should be assessed, and then supported by the municipal decisions. Alterman (2012) indicates to increasing of real property values, which have profound social, economic, and distributive-justice implications. Land value capture (LVC) is closely linked to institutions that define property in land.…”

Section: Introductionmentioning

confidence: 99%

“…Direct and indirect models proposed by Alterman (2012) and used also for recent comparative study (Hendricks et al 2017) have been adopted…”

Section: Introductionmentioning

confidence: 99%

Land Value Capture to Promote Local Development in Baltics: a Comparative study of Estonia, Latvia and Lithuania

Auziņš

Jürgenson

Burinskienė

2017

Proccedings of 10th International Conference "Environmental Engineering"

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Abstract. By capturing value increase, it should be used for specific purposes in the way that would support implementation of infrastructure projects and promote local development. Accordingly, the stakeholders' interests have to be balanced and fair decision-making promoted. The research emphasises on comparative analysis of Estonian, Latvian and Lithuanian experiences in covering development costs and absorbing value increase. The purpose of the study is to give an overview of the land value capture as well as to discuss how it promotes local development and what is an institutional environment supporting it in three Baltic countries with similar historical evolution during last two decades. The functions of local authorities and spatial planning systems have been analysed in the study. The comparative analysis and synthesis, the logical-constructive and graphical methods mainly are used for the research. Direct and indirect models, which are used for the absorption of the surplus value of developed land, have been observed in the study. The outcome of the research shows an interim conclusion for Estonia, Latvia and Lithuania, and it may contribute to comparative analysis in larger -European context -in order to get an overview of land value capture across Europe.

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Land-Use Regulations and Property Values: The “Windfalls Capture” Idea Revisited

Cited by 126 publications

References 3 publications

Saving Soil for Sustainable Land Use

Saving Soil for Sustainable Land Use

Collaborative development: Capturing the public value in private real estate development projects in Ho Chi Minh City, Vietnam

Land Value Capture to Promote Local Development in Baltics: a Comparative study of Estonia, Latvia and Lithuania

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