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Absolutely! The Gold Coast region in Australia has some studies about how they used Land Value Tax to fund infrastructure development. Namely the land value inc

by spoonie 10y ago

Absolutely! The Gold Coast region in Australia has some studies about how they used Land Value Tax to fund infrastructure development. Namely the land value increases around new transit stops that were built could be captured by the city rather than going into the pockets of private owners. This idea is called "Value Capture". http://www.afr.com/opinion/columnists/following-the-act-land-tax-approach-boosts-growth-and-state-budgets-20161018-gs4om9 http://www.afr.com/opinion/columnists/following-the-act-land... http://theconversation.com/gold-coast-light-rail-study-helps-put-a-figure-on-value-captures-funding-potential-65084 http://theconversation.com/gold-coast-light-rail-study-helps...

honkhonkpants 10y ago
Value capture is explicitly unconstitutional in California.
- kspaans 10y ago
  Fascinating! I just moved to SF so I didn't know that. I assume you're referring to Prop 13? My understanding is that it's about property taxes, not land taxes. Possibly there is some legal wiggle room in there? Anyway, looks like there are other forms of value capture that may not run afoul of Prop 13! Thanks for pointing that out I learned something new today. :) http://iff.scag.ca.gov/Pages/ValueCapture.aspx http://iff.scag.ca.gov/Pages/ValueCapture.aspx http://www.transitwiki.org/TransitWiki/index.php?title=Value-capture_finance http://www.transitwiki.org/TransitWiki/index.php?title=Value...
  - dragonwriter 10y ago
    LVT are a form of property tax on real property; they differ from traditional ad valorem real property taxes in that they do not apply to the value of improvements, but were one to try to implement them in California, the Constitutional limits on real property taxation (Prop 13) would apply to them in the same way as it does to other real property taxes.
- WildUtah 10y ago
  Not quite entirely. A public entity could just buy up surrounding land outright and then lease it out to private operators, capturing value in the rents. It's only illegal to do it the reasonable way that makes sense.
cylinder 10y ago
Funny you mention Australia as I wanted to mention the use of the land value tax on Sydney's north shore to fund the construction of the Sydney Harbour Bridge, but ended up leaving it off my post. Letting this value flow from taxpayers to landowners freely is nothing short of injustice.
sliverstorm 10y ago
"Value Capture" is an unfortunate term, if you like the idea. For me at least, it conjures the image of a patent troll explaining why they deserve millions of dollars for doing nothing, or a PHB explaining how he plans to fleece grandmothers around the country of their pensions. It just reeks of shady business practices.
- spoonie 10y ago
  Interesting point. I agree that, out of context, it's a very scary name! I'll look around for a better term.
  - deleted 10y ago
    [deleted]

by spoonie 10y ago

honkhonkpants 10y ago

Value capture is explicitly unconstitutional in California.

kspaans 10y ago
Fascinating! I just moved to SF so I didn't know that. I assume you're referring to Prop 13? My understanding is that it's about property taxes, not land taxes. Possibly there is some legal wiggle room in there? Anyway, looks like there are other forms of value capture that may not run afoul of Prop 13! Thanks for pointing that out I learned something new today. :) http://iff.scag.ca.gov/Pages/ValueCapture.aspx http://iff.scag.ca.gov/Pages/ValueCapture.aspx http://www.transitwiki.org/TransitWiki/index.php?title=Value-capture_finance http://www.transitwiki.org/TransitWiki/index.php?title=Value...
- dragonwriter 10y ago
  LVT are a form of property tax on real property; they differ from traditional ad valorem real property taxes in that they do not apply to the value of improvements, but were one to try to implement them in California, the Constitutional limits on real property taxation (Prop 13) would apply to them in the same way as it does to other real property taxes.
WildUtah 10y ago
Not quite entirely. A public entity could just buy up surrounding land outright and then lease it out to private operators, capturing value in the rents. It's only illegal to do it the reasonable way that makes sense.

cylinder 10y ago

Funny you mention Australia as I wanted to mention the use of the land value tax on Sydney's north shore to fund the construction of the Sydney Harbour Bridge, but ended up leaving it off my post. Letting this value flow from taxpayers to landowners freely is nothing short of injustice.

sliverstorm 10y ago

"Value Capture" is an unfortunate term, if you like the idea. For me at least, it conjures the image of a patent troll explaining why they deserve millions of dollars for doing nothing, or a PHB explaining how he plans to fleece grandmothers around the country of their pensions. It just reeks of shady business practices.

spoonie 10y ago
Interesting point. I agree that, out of context, it's a very scary name! I'll look around for a better term.
- deleted 10y ago
  [deleted]