Value Capture for Transportation Finance

Loading...
Thumbnail Image

View/Download File

Persistent link to this item

Statistics
View Statistics

Journal Title

Journal ISSN

Volume Title

Title

Value Capture for Transportation Finance

Published Date

2012

Publisher

Type

Article

Abstract

As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential replacement as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies seek to generate revenue by extracting a portion of the gains in the value of land that result from improvements to transportation networks. In this paper we identify a set of eight policies that contain elements of the value capture approach. These policies include land value taxes, tax increment financing, special assessments, transportation utility fees, development impact fees, negotiated exactions, joint development, and air rights. We evaluate each of the policies according to four criteria: efficiency, equity, sustainability (in terms of revenue adequacy and stability), and feasibility. The value capture concept is placed within a more general framework of transportation finance that emphasizes the relationship between different types of charges and groups of beneficiaries from transportation investments.

Description

Related to

Replaces

License

Series/Report Number

Funding information

Minnesota Legislature

Isbn identifier

Doi identifier

http://dx.doi.org/10.1016/j.sbspro.2012.06.1023

Previously Published Citation

Zhao, Zhirong, Michael Iacono, Adeel Lari, David Levinson. (2012) Value Capture for Transportation Finance. Procedia: Social and Behavioral Science. 48(2012) 435-448.

Other identifiers

Suggested citation

Zhao, Zhirong; Iacono, Michael J; Lari, Adeel; Levinson, David M. (2012). Value Capture for Transportation Finance. Retrieved from the University Digital Conservancy, http://dx.doi.org/10.1016/j.sbspro.2012.06.1023.

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.