4 ms·
Value capture is explicitly unconstitutional in California.
by honkhonkpants 10y ago
Value capture is explicitly unconstitutional in California.
- kspaans 10y agoFascinating! 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 agoLVT 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 agoNot 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.