Browsing by Subject "Property assessment"

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    Value Increase and Value Capture: The Case of TH-610 in Maple Grove, Minnesota
    (Minnesota Department of Transportation, 2014-01) Zhirong, Zhao
    As a natural extension of University of Minnesota value capture study in 2009, this project demonstrates the application of value-capture strategies to supplement transportation funding for the completion of TH-610 in Maple Grove, Minnesota. Using spatial and regression analysis, we estimate that the completion of TH-610, with two additional exits, would lead to a significant growth in assessed property value, including about $12 million in land value and $5 million in buildings. The growth would result in about $4.3 million in property tax capacity, and about $1 million in annual property tax revenue. With multiple scenarios of hypothetical value-capture designs, we estimate the revenue potential of value capture would range from about $12 million to about $37 million, which could be used to supplement project finance to expedite the completion of TH-610.