The value capture potential of the Lisbon subway
Loading...
View/Download File
Persistent link to this item
Statistics
View StatisticsJournal Title
Journal ISSN
Volume Title
Title
The value capture potential of the Lisbon subway
Published Date
2012
Publisher
Journal of Transport and Land Use
Type
Article
Abstract
This paper tries to build on traditional value capture measures, to estimate the potential of some of these mechanisms for the Lisbon subway by examining their ability to mitigate the system’s operation and development costs. The study focus is on the municipality of Lisbon where this system mainly operates. This research uses spatial hedonic pricing models of the real estate of the region, calibrated on previous stages of the study, to assess the extent to which transportation infrastructure is currently capitalized into the real estate market. The paper uses a Monte Carlo simulation procedure to estimate a synthetic population of residential and non-residential properties that matches the census blocks statistics, measuring the subway valuation for each synthetic property and aggregating the results for the whole municipality. This potential value capture estimate is then used to estimate an annual tax that could be charged under different value capture measure configurations (i.e., land value tax, special assessment). The results suggest that there is significant potential for the use of this instrument to finance the subway infrastructure.
Description
JTLU vol 5, no 1, pp 65-82 (2012)
Related to
Replaces
License
Collections
Series/Report Number
Funding information
Isbn identifier
Doi identifier
10.5198/jtlu.v5i1.251
Previously Published Citation
Suggested citation
Martínez, Luis Miguel Garrido; Viegas, José Manuel. (2012). The value capture potential of the Lisbon subway. Retrieved from the University Digital Conservancy, 10.5198/jtlu.v5i1.251.
Content distributed via the University Digital Conservancy may be subject to additional license and use restrictions applied by the depositor. By using these files, users agree to the Terms of Use. Materials in the UDC may contain content that is disturbing and/or harmful. For more information, please see our statement on harmful content in digital repositories.