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Urban property taxes are primordial land value capture mechanisms that can potentially redistribute public income to underprivileged areas in a city. However, in Santiago, Chile, a city with considerable socio-spatial segregation correlated with significant disparities in municipal budgets, social welfare, and intergenerational reproduction of wealth, the property tax system is weak to address this issue effectively. This study analyses the potential redistributive capacity of property taxes in Greater Santiago, comparing the evolution of real estate surplus values with municipal budgets. These results show that a 2% increase in property taxes would suffice to equalize per capita municipal budgets, essential to redistribute social welfare. In Chiles's neoliberal planning framework, we argue that weak property taxes are critical for the intergenerational reproduction of wealth and poverty in different municipalities. Property as capital is efficient for capturing unearned value in the long term and obtaining rental income, two mechanisms of inequality reproduction, as property accumulation is only feasible if it is not progressively taxed. In sum, this analysis of property taxes in Santiago contributes to the theoretical understanding of passive mechanisms of inequality reproduction in a neoliberal system and empirical support for a progressive increase of property taxes. [ABSTRACT FROM AUTHOR]

Toronto has for 70 years been one of the fastest growing city-regions in North America, and over the last two decades has seen booming high-rise intensification. A distinctive land value capture (LVC) system and practice has emerged. This paper traces the contested evolution of Toronto LVC since 1946, including recent major changes to the rules, and makes three main contributions: First is the suggestion that at its core, LVC is an attempt to purposefully alter the distribution of the costs and benefits of urban property development between public and private actors, and should be considered a key metric to evaluate the social equity of property development processes. Second, conjunctural analysis has recently emerged as an approach to reading the intersection of political, economic, social, and ideological processes that come together to produce historical changes in specific cases. I argue that Historical Institutionalism (HI) is a valuable complement to the conjunctural analysis approach in its focus on the genesis of and contestation over specific sets of institutions. HI provides a set of midlevel conceptual frameworks and research methods to identify major institutions, the actors involved, and institutional change mechanisms, processes, and patterns. I bring together two hitherto separate traditions of thought about conjunctures, that arising from Gramsci through Stuart Hall, and that developed in HI, arguing that HI brings analytical clarity to the comparative analysis of conjunctures. Third, the Toronto case is revealing of processes of institutional change, mechanisms supporting path dependence, and the urban impacts of globally hegemonic ideological conjunctures. [ABSTRACT FROM AUTHOR]

This essay reviews 20th century applications of Henry George's thought by local and national policy makers in the Anglo-American context with the goal of better interpreting contemporary debates about land value capture (LVC). Proponents of LVC mechanisms argue that incentive zoning, planning obligations/exactions, special assessments, transfers of development rights, density bonusing, and tax increment financing can rebalance public and private wealth and promote economically redistributive development where direct government spending on social goods is not politically possible. Critical scholars question this stance, arguing that interventions pursued under the LVC banner often deliver publicly generated wealth to already-affluent parties while contributing to price escalation that harms low-income and middle-class citizens. An examination of Henry George's foundational ideas sheds light on the challenges policy makers have faced in attempting to recover the "unearned increment" for the public. This analysis provides useful context for present-day debates about the advisability and practical effects of land value capture mechanisms. [ABSTRACT FROM AUTHOR]

Land Value Capture (LVC) in the Global South has long been a subject of long-standing debate, primarily driven by the need to address uneven urbanization and finance public investments. Despite its significance, current literature focuses on case analyses limited to local implementation contingencies. This paper aims to critically examine LVC as an epistemic object and question its approach within urban studies. Our hypothesis posits that LVC has remained confined to the empirical dimension of case studies, replicated for years, demanding a higher level of theorization that could reveal the colonizing intentions encrusted in the policy learning flows from the Global North. [ABSTRACT FROM AUTHOR]

This paper reviews the economic rationale of Land Readjustment (LR), investigating the (full-)cost recovery principle from the lens of the Henry George theorem in Korean contexts. This research articulates how land value uplift was used for infrastructure in LR. South Korean LR is explored due to the manifestation of the tight link between land value uplift and infrastructure. In Korean LR, a portion of land by private owners should be surrendered for new urban infrastructure. Nevertheless, the LR scheme was accepted by Korean landowners because serviced land converted from un-serviced land is more valuable. This research carries out a case study of the largest Korean LR project – Yeongdong (YD) – a central part of Gangnam in Seoul, on a land area of 26.8 km2 implemented in the period 1967–1991. YD experienced drastic land value uplift as high as almost 13,000 times over twenty-six years after the conversion from farmland. Local-level infrastructure was fully funded by LR by virtue of land value uplift, without other public funds, demonstrating the land value-infrastructure nexus. [ABSTRACT FROM AUTHOR]

Funding urban governments is important and in places with weak governance, it may be the case that selling development rights is the most viable option for raising local revenue. Murray and Gordon, however, do not make such a conditional argument in their essay "Land as Airspace". They argue that governments should charge landowners for development rights and not upzone land "for free" to stimulate housing development, in opposition to recent zoning reforms not to other land-based revenue-raising strategies. This framing is unpersuasive and their proposal does not present a logically coherent case that charging for upzoning achieves housing goals (production or affordability) that upzoning alone does not. The essay ignores existing empirical research on zoning and housing development that contradicts its arguments and presents policy proposals without considering their effectiveness or the tradeoffs they imply. The essay also neglects the fact that most of the recent, largest, and most controversial upzoning programs did not change air rights at all. [ABSTRACT FROM AUTHOR]

Austerity urbanism has emerged as a powerful concept to explore the political and socio-spatial consequences of cuts in public spending, but interrogations remain regarding public actors' shifting role in urban production in times of increased budgetary constraints. This article focuses on Land Value Capture (LVC), a financing mechanism that has been gaining traction amongst scholars and practitioners alike. While LVC can be framed as a valuable tool to finance infrastructure provision in times of austerity, we argue that the existing literature has neglected its use by other public actors, for the funding of other urban projects. Indeed, we analysed how different public actors (public landowners, land developers, and local governments) sought to take advantage of the anticipated rise in land value around future stations of the new urban railway system surrounding Paris, the Grand Paris Express. Through an exploration of four case studies, we show that LVC can be a flexible instrument that allows actors to either play into, or mitigate austerity-driven urban policies in French cities. [ABSTRACT FROM AUTHOR]

Abstract Urban development and regeneration processes are both influenced by changes in the level of land rents over time and space. Public intervention in land markets, including planning regulation, affects rent dynamics through discretionary decisions that create clear advantages and inequalities in landowner treatment. Focusing on Italian approaches to planning regulation and land value capture (LVC), the research investigates the evolution of the theoretical debate on windfalls for wipeouts and the different approaches and instruments for managing urban rents. The characteristics of the national housing market and the relevant socio-economic and territorial disparities require a better understanding of contemporary rent dynamics. The conclusions suggest that the traditional and mainstream conception of urban rent, as an unearned gain for the landowner, needs to be revised and LVC should be addressed to support regeneration policies.

Disaster risk refers to the possibility of a loss of life, assets, health, and livelihoods to the community in the future, so it must be reduced, one of which is by implementing disaster risk management. The disaster risk management financing scheme is crucial considering the number of funds needed. This research serves as an initial exploration into alternative funding options by investigating the potential benefits of implementing the Land Value Capture (LVC) scheme. The driving question of this study focuses on the advantages of employing the land value capture concept for disaster risk funding. To address this question, a descriptive qualitative research methodology is employed, encompassing an analysis of LVC in general, a funding analysis for disaster risk management, and the implementation of LVC for disaster risk reduction specifically in Indonesia. The findings of this study reveal that the Land Value Capture (LVC) scheme can serve as an additional strategy for funding disaster risk management in Indonesia. Through the proposed framework, the integration of LVC with disaster risk financing and insurance is facilitated.

The traditional mobility-oriented travel-time saving benefit assessment method has been repeatedly questioned for numerous intrinsic flaws, motivating the search for alternative benefit assessment approaches. Although a wealth of literature confirms the capitalization effect of access benefits induced by transport improvements to land or real estate value, the access-based land value uplift method hasn’t yet been widely recognized and employed as an official tool assisting transport decision-making. The present paper collects 136 empirical studies and aims to disentangle the obstacles hindering the promotion of the access-based assessment method by systematically reviewing methodological design, the access metrics used, and the target real estate sub-markets or land use types upon which access benefits are quantified. First, it was found that almost half of the sampled studies just investigated the general effects of transport operation on real estate prices without incorporating sufficient temporal and locational considerations, thereby failing to isolate project-specific incremental impacts. Second, while the hedonic pricing model remains the most popular model, a trend towards embracing more advanced modelling techniques such as spatial lag, spatial error, and Difference-in-Differences (DID) models to control for bias caused by spatial dependence has been observed. Third, Euclidean distance and distance buffer rings are the most widely used operational measures of access. Primal access measures covering the number of opportunities available at a destination and travel impedance are recommended. Last, over 86% of sampled empirical studies target the residential real estate market. The lack of non-residential land uses in the literature presents a significant research gap that should be addressed.

This research investigates a South Korean land value capture experience in peri-urban development. With the growing demand for urban land, rent gaps grew. A South Korean public development scheme, the Housing Site Development Promotion Act (HSDPA), enabled a public development agency to financialize and recoup the rent gaps by allowing for land acquisition at agricultural value. Hence, these peri-urban projects were self-funded in providing infrastructure at "no cost" to the government. A case study – of Yongin-Jukjeon on the periphery of Seoul – reveals that the rent gap between pre-development and post-development was over fivefold, and the public development agency achieved an internal rate of return of 262 per cent after paying for decent-quality infrastructure facilities by the national standard. Despite the size of this return, the rent gap was also shared among and reallocated to other key actors including original landowners, construction companies and end-users. [ABSTRACT FROM AUTHOR]

This article explores the connections between planning and land rent through a case study of density bonusing in Toronto, known as 'Section 37' – a form of land value capture. Density bonusing facilitates speculative bidding on future rents by private developers seeking 'highest and best' land uses – or efficient land uses – yet has implications related to equity when the unearned increment is extracted to recover value and invest in public goods. We situate land value capture within debates on the unearned income derived from land development in cities. We view the case of density bonusing through the lens of discretionary planning systems operating through flexible mechanisms. Specifically, we consider the direct role of planners towards balancing private interests with public goods in the face of shifting market and political contexts. The findings show that securing public goods from private land development through the unearned increment lacks consistency and predictability when the flexibility exercised by development actors drives planning decision-making. We conclude with a discussion on the implications for discretionary planning and land value capture in market-intensive, neoliberal environments. [ABSTRACT FROM AUTHOR]

This paper contextualises the political economy of land value capture (LVC) within the shift to an increasingly financialised, rentier-dominated capitalism. Contributing to an emerging dialogue between social constructivist planning literature on performativity in LVC and the critical political economy literature on rents and rentiership, we overview Salford's planning policy trajectory in recent decades in order to highlight how the UK planning system has increasingly been reconfigured as a mechanism to increase land values. In doing so, we explore both Salford's shift to neoliberal planning and its municipal socialist counter-turn in recent years, reflecting on how the centrality of LVC to the latter still leaves it dependent on rentier logics. In doing so, we locate these policy conjunctures within the governance dynamics of Britain's transformation into a rentier economy; wherein the stimulation, disbursement and capture of land values have become central objects of spatio-economic policy. [ABSTRACT FROM AUTHOR]

What are the recursive effects of planning on valuations of land, value capture and returns to developers and hence what urban planning can achieve in the building of new urban fringe communities? Valuations affect returns on investment in ways that impact on developer contributions while planning fuels hope in ways that land value capture instruments can never fully realise. We illustrate the discussion with reference to Melbourne, Australia drawing on research interviews with local and state and private sector planners, real estate brokers and valuers. In conclusion, we note the implications of the hope generated by planning for the capture of land value uplifts in the name of new community building; the desirability of integrating insights from the property and planning disciplines; further investigating the temporalities of planning; and the contribution of built environment professions in shaping discourses surrounding the value of planning. [ABSTRACT FROM AUTHOR]

Urban development and regeneration processes are both influenced by changes in the level of land rents over time and space. Public intervention in land markets, including planning regulation, affects rent dynamics through discretionary decisions that create clear advantages and inequalities in landowner treatment. Focusing on Italian approaches to planning regulation and land value capture (LVC), the research investigates the evolution of the theoretical debate on windfalls for wipeouts and the different approaches and instruments for managing urban rents. The characteristics of the national housing market and the relevant socio-economic and territorial disparities require a better understanding of contemporary rent dynamics. The conclusions suggest that the traditional and mainstream conception of urban rent, as an unearned gain for the landowner, needs to be revised and LVC should be addressed to support regeneration policies. [ABSTRACT FROM AUTHOR]

The question of land ownership is fundamental to any modern society and has been blamed as the root of numerous social inequalities. This paper explores one potential solution to the land question, Land Value Tax (LVT), which was first popularised in the 1880s by Henry George. Despite its long history, LVT has not been widely implemented, but recently proposals to replace existing property taxes with this form of taxation have re-emerged on the political scene. While the Welsh Government has recently explored the idea of introducing an LVT, there are limited studies on this form of taxation in the context of a discretionary planning system, such as the Welsh planning system. This paper conducts exploratory qualitative research using Wales as a case study. Data was collected via semi-structured interviews with experts across various related fields, primarily within taxation and planning, to establish the potential effects of LVT in practice, with a particular focus on how it might affect the equity of planning outcomes. Overall, the research showed that despite the strong theoretical potential, fundamental practical issues would diminish the ability of LVT to effectively influence planning. LVT is argued to be largely incompatible with a discretionary planning system (e.g., the Welsh planning system), and therefore, the research concluded that many of the potential benefits of LVT could be better achieved through reforms to existing taxes and planning processes, particularly land value capture mechanisms. [ABSTRACT FROM AUTHOR]

Transportation and accessibility remain an important consideration in land use planning decision-making if modal shifts towards sustainable forms of transport are to be encouraged. Land value capture (LVC) mechanisms which gather developer contributions can provide new transport infrastructure which supports such a shift. Within England, this has traditionally been pursued through negotiated section 106 agreements, yet data suggest a significant decline in the value of these contributions for transport measures since 2010. This paper investigates the reduction to understand the reasons behind it and then considers the resulting implications for policy and LVC practices using a qualitative synthesis. [ABSTRACT FROM AUTHOR]

This article analyses how local governments can use a land value capture instrument to support their land development and planning policy in addition to their financial objectives, focusing on the French 'development tax' in a real-estate development project in Bordeaux. It compares the legal framework of the development tax with the practice of public and private negotiation. The case study concludes that tax decisions leave unforeseen room for trade-offs between fiscal objectives and the business models of private developers via adjustments to the tax rate, building rights and facilities planning. The tax decision can help drive socio-spatial development and generate collective benefits. [ABSTRACT FROM AUTHOR]

When handling planning-related changes in land values, most planning systems are somewhat imbalanced. Whereas reduction of values (e.g. regulatory takings) are compensated fully, value increments remain to the landowners most often. Scholars and politicians have claimed to introduce an instrument to capture this added value to counterbalance this imbalance. Switzerland is one of the few countries that has actually introduced such an instrument in planning law. National legislators state that planning advantages are to be compensated at a rate of at least 20 per cent of planning-related advantages (Article 5 SPA). However, municipalities are granted discretion to shape the instrument, e.g. by defining a capture rate of 50 per cent. The present study aims to understand which contextual factors most influence municipalities to use the discretion granted. Based on a qualitative comparative analysis (QCA) of a representative set of thirty-three municipalities within the Canton of Bern, we examined five contextual factors (political, socio-economic, land managerial, administrative and financial) and their influence on the actual implementation of added-value capture. Our analysis shows that the professionalism of the local administration has the most substantial influence on the actual shape of the instrument's implementation. [ABSTRACT FROM AUTHOR]

The article is devoted to the global trend of active urbanism as an approach to the study of planning and creation of cities, which pays special attention to the interaction of society with the built environment. It has been established that urban growth increases the demand for public utilities and, as a result, for land plots with the appropriate infrastructure. In this regard, there is a need to find additional sources of financing for new infrastructure projects. One of the effective means is to capture the value of land. The author substantiates the need to use the tools of land value capture as one of the main aspects of urbanism. The author provides an interpretation of each of the instruments based on the theory of land value capture: infrastructure fee, developer's obligations, payment for the opportunity to build, land reorganization and strategic land management. The author examines the peculiarities of development and implementation of the aforementioned tools in terms of administrative, legal and financial regulation on the example of European countries. It is established that the national system of land management does not sufficiently facilitate the implementation of these tools, especially in the context of the prospects for political, legal, economic, social and cultural integration of Ukraine into the European space. Keywords: land value capture, land use, fiscal payments, authorities, land management.

This study aims at developing a framework to guide the use of Land Value Capture (LVC) as a financing mechanism for infrastructure development in Lagos State, Nigeria. This is geared towards facilitating sustainable economic development in the region. Being a desk research, the methodology adopted was a literature survey. This was in order to identify baseline conditions necessary for the efficient application of LVC. The conditions identified, were then analyzed in terms of their workability within the context of the study area. Data was drawn from research articles, case studies, policy papers, and publications from relevant intergovernmental organizations. In addition to developing a framework, which guides the use of LVC in the study area, the study found that there is potential for the application of LVC in Lagos. Areas requiring minimal intervention include the existence of a vibrant property market and lead implementing institution. The state’s current inability to fully capitalize on LVC, are in the areas of having a strategic national vision, a clear policy framework, sound structure for institutional development finance, and an effective land title documentation system. This is the first study that develops a framework for the use of LVC specifically for Lagos. Further, the paper contextualizes the baseline conditions for LVC in Lagos, Nigeria, presenting an alternate finance mechanism for infrastructure development revenue in the region.

Multi-faceted stresses of social, environmental, and economic nature are increasingly challenging the existence and sustainability of our societies. Cities in particular are disproportionately threatened by global issues such as climate change, urbanization, population growth, air pollution, etc. In addition, urban space is often too limited to effectively develop sustainable, nature-based solutions while accommodating growing populations. This research aims to provide new methodologies by proposing lightweight green bridges in inner-city areas as an effective land value capture mechanism. Geometry analysis was performed using geospatial and remote sensing data to provide geometrically feasible locations of green bridges. A multi-criteria decision analysis was applied to identify suitable locations for green bridges investigating Central European urban centers with a focus on German cities as representative examples. A cost-benefit analysis was performed to assess the economic feasibility using a case study. The results of the geometry analysis identified 3249 locations that were geometrically feasible to implement a green bridge in German cities. The sample locations from the geometry analysis were proved to be validated for their implementation potential. Multi-criteria decision analysis was used to select 287 sites that fall under the highest suitable class based on several criteria. The cost-benefit analysis of the case study showed that the market value of the property alone can easily outweigh the capital and maintenance costs of a green bridge, while the indirect (monetary) benefits of the green space continue to increase the overall value of the green bridge property including its neighborhood over time. Hence, we strongly recommend light green bridges as financially sustainable and nature-based solutions in cities worldwide. [ABSTRACT FROM AUTHOR]

Copyright of Revista Brasileira de Estudos Urbanos e Regionais is the property of Associacao Nacional de Pos-Graduacao e Pesquisa em Planejamento Urbano e Regional and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

With considerable investments, mainly from local government budgets, the construction and operation of urban rail transit (URT) can exert significant spillover effects on the surrounding land use and land prices. In particular, China's local governments are actively committed to developing their URT systems and promoting large-scale transit-oriented development (TOD) projects under the public land leasing policy. However, the connection between the land premium effects and TOD policy and practice is still lacking, particularly in the local government contexts, which exhibit significant policy and spatial heterogeneity. Thus, this research represents an attempt to better address this issue using the city of Ningbo as a case study. First, the premium effects of URT on land prices are examined, after which three crucial policy insights (land value capture [LVC], public–private cooperation [PPC], and urban regeneration) are proposed to enhance the effectiveness and efficiency of TOD, demonstrating its strong connection with the potential premium effects. The findings demonstrate that (1) local governments have adopted different innovative policies—with the ambition—to implement LVC; (2) assisted by PPC, the local rail transit authority can significantly amplify the premium effects, although it must still address the fair distribution of premiums across multiple stakeholders; and (3) transit-oriented urban regeneration can significantly influence land prices/land rents and subsequently generate significant gentrification, which will be further addressed by the TOD policy and practice. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Turkish Court of Accounts / Sayistay Dergisi is the property of Turkish Court of Accounts and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Land readjustment (LR) has undergone a significant transformation, evolving from a private-owner-centric mechanism to a proven tool for upgrading low-income, informal settlements. This article traces the efforts by multilateral and bilateral organisations, along with think tanks, to promote LR as both a relevant and implementable tool in the Global South. It delineates three distinct phases in LR's evolution: its initial unsuccessful integration into the UN's Habitat I agenda in 1976, a subsequent phase of recalibration aimed at broadening its applications and outreach in the 2000s, and finally, its endorsement in 2018 as an effective tool for informal settlement upgrading. Focusing on the roles of policy mediators, including bilateral and multilateral organisations, the article sheds light on the practices, politics, and power dynamics at play in the movement and mutation of policy models. It also examines the conditions leading to success and instances where expected policy outcomes and their mobilisation failed to materialise. • Mobility and mutation of a policy is a non-linear process and outcomes are unpredictable. • Failure is an ever-present possibility, outcomes in policy-making processes are invariably dependent on local contexts. • There is an absence of empirical evidence validating LR as an effective tool for slum upgrading. [ABSTRACT FROM AUTHOR]

Land and property development process includes a series of multifaceted activities ranging from purchasing to converting it for development purposes and everything in between. The process itself encompasses multiple stakeholders, drivers, and contributions from diversified public and private actors and transaction cost arises out of their complex interaction. Transaction costs incurred during any kind of human interaction (i.e., transactions). Every actor involved in the process wishes to maximize his achievement under various constraints and hence institutional arrangement (i.e., set of humanly devised rules to administer the constraints) is necessary for efficient management of the development process. Therefore, to devise an optimum outcome out of economic and social transactions in the property development process, cooperative and competitive relationships between individuals should be understood from a broader socio-political and governance structure. In this research, it is critically argued that the land and property development process should implicate a multifaceted set of formal and informal rules or institutional arrangements to govern the intrinsic interaction, action and thereby reducing the related transaction cost. The central argument is further reproachfully evaluated and implicated in the urban development process through the myopic lens of the Transit-oriented development (TOD) pathway. A vigilant combination of descriptive and explanatory research approaches is adopted to analyze the connection between theory and practice.

Land value capture (LVC) has shown great potential in financing urban rail system infrastructure, such as transit-oriented development (TOD). However, the government of Indonesia has not tapped this potential in order to close its infrastructure financing gap. This study aims to determine the incremental rate captured through a tax-based LVC mechanism and develop a property market-based mobile application to implement the scheme, with six TOD areas in seven stations of the Mass Rapid Transit (MRT) Jakarta Phase I project as the case study. This research used literature and benchmarking studies to collect data, followed by the calculations of the transport premium, total value increment, and value capture rate for the betterment tax implementation to obtain its research objectives. The results showed that a 5.82% value capture rate could recover 53.8% of the government's initial investment for the project. Based on that figure, betterment tax rates of 0.3% and 0.1% are proposed for residential properties within the radius of 100-400 m and 400-700 m from transit stations, respectively. Meanwhile, 2.5% and 2.4% tax rates are proposed for commercial properties within the radius of 0-300 m and 300-600 m, respectively. Furthermore, the activity workflow for a mobile application in which the government can issue tax invoices and taxpayers can make payments is also proposed to facilitate the implementation of LVC as an alternative source to finance TOD projects.

Urban rail transit (URT) promotes sustainable urban development by alleviating traffic congestion and environmental degradation. However, many cities have developed URT projects recently, often encumbering local governments with debt. Land value capture (LVC) is an important theory that explores the new financing modes for urban rail transit. Despite prior studies that have found a positive relationship between URT and property prices based on LVC, limited empirical studies explore sustainable paths to better examine the effect of URT on property prices. This study collects 1036 properties in Xuzhou, China. Meanwhile, multiple regression models are established to analyze the impact mechanism of URT on property prices, and to further examine the combination effects of multidimensional neighborhood infrastructure and URT on property prices from the perspective of sustainable development. The results show that the coefficients of URT in all models are negative, indicating that the property prices decrease as the distance from the URT to the property increases, and the positive coefficient of TRANS implies that the transfer station would raise house prices. Combining Park, School (and Hospital) variables with URT, respectively, the negative coefficients of URT increase from 0.0435 to 0.0846 and 0.0525, and these URT variables are significant, indicating that parks, schools, and hospitals can enhance the effect of URT on property prices. However, adding the Shopping variable, the negative value of URT drops from 0.0435 to 0.0192, and is not significant, which means shopping centers have a restraining impact. Moreover, the combination of parks and schools (and hospitals) can better enhance the effect of URT on property prices (the highest URT negative coefficient is 0.0870). This study can provide a reference for the government to facilitate URT planning and better decision-making. [ABSTRACT FROM AUTHOR]

Indonesian local governments still depend on the state budget to fund infrastructure development. On the other hand, land value capture (LVC) is suitable for developing countries, such as Indonesia, to fund such development. However, there is an absent legal system to explicitly implement LVC in Indonesia. This paper aims to discuss factors affecting LVC implementation in the context of Palembang. Through an in-depth interview with several experts, the study identified existing issues affecting LVC implementation including delays in revising regulation; risk of corruption, collusion, and nepotism; decrease in public participation; and public complaints due to property tax increase. Finally, we proposed strategies that should be fulfilled by the local government for the successful implementation of LVC in Palembang. They include the establishment of an implementing agency with a clear division of role and skillful members, the enactment of specific regulations, and the establishment of a special forum, e-platform, and mass media.

The question of land ownership is fundamental to any modern society and has been blamed as the root of numerous social inequalities. This paper explores one potential solution to the land question, Land Value Tax (LVT), which was first popularised in the 1880s by Henry George. Despite its long history, LVT has not been widely implemented, but recently proposals to replace existing property taxes with this form of taxation have re-emerged on the political scene. While the Welsh Government has recently explored the idea of introducing an LVT, there are limited studies on this form of taxation in the context of a discretionary planning system, such as the Welsh planning system. This paper conducts exploratory qualitative research using Wales as a case study. Data was collected via semi-structured interviews with experts across various related fields, primarily within taxation and planning, to establish the potential effects of LVT in practice, with a particular focus on how it might affect the equity of planning outcomes. Overall, the research showed that despite the strong theoretical potential, fundamental practical issues would diminish the ability of LVT to effectively influence planning. LVT is argued to be largely incompatible with a discretionary planning system (e.g., the Welsh planning system), and therefore, the research concluded that many of the potential benefits of LVT could be better achieved through reforms to existing taxes and planning processes, particularly land value capture mechanisms.

Social, economic and environmental aspects of building sustainable communities receive ample academic and policy attention; far less is paid to finding financially sustainable models of urban regeneration. This case study of the Hattersley Estate in Greater Manchester, England, provides insights into an innovative approach to financing estate regeneration via novel mechanisms of planning gain, stock transfer and tenure diversification, influenced by the Mixed Communities agenda. In the context of enduring spatially concentrated deprivation, state withdrawal of regeneration funding and residualisation and neglect of public housing stock by an absentee landlord - together rendering estate renewal too expensive for conventional stock transfer - regeneration partners have instead sought to leverage local land values for a 'self-financing' method of regeneration. This article describes how a novel business model and financialisation fix were conceived and implemented for Hattersley's relatively successful estate regeneration; explores the political-economic implications and contradictions of this financialised approach for urban development trajectories; and draws critical connections between research on financialisation, land value capture and municipal entrepreneurialism. [ABSTRACT FROM AUTHOR]

Since 2010, faced with deep austerity measures, 27 London councils have set up a housing company to acquire, develop, and manage housing. Following 40 years of privatisation, these council‐owned companies have been celebrated as a post‐neoliberal municipal alternative to the hegemony of market‐led urban policy. By developing commodified real estate and monetising rising land values, they promise to deliver well‐designed housing, generate long‐term fiscal rents, and secure local state autonomy. Drawing on in‐depth empirical research, this paper develops a situated political economic critique of the limitations, contradictions, and risks of local housing companies in London. Framed as a "critical case", providing insight into the politics of speculative urban provisioning and land value extraction, I argue that local housing companies represent a mode of municipal statecraft—a local state rentierism—that leans into and reproduces a political economy of financialisation and rentierism with potentially long‐term implications for collective urban provisioning. [ABSTRACT FROM AUTHOR]

In England, when land is granted planning permission its value increases dramatically. Historically, the question of who is entitled to this 'betterment value' uplift has been one of the central debates in national politics. However, from the 1980s to 2008, betterment value capture policy became depoliticized. This article seeks to understand how that came about. Focusing on the parliamentary sphere, it proposes that depoliticization took place across three 'faces'. First, economic interests: rising home‐ownership and the broader rentierization of the economy strengthened support for house price inflation and private property rights, thus shrinking the space for political debate around these issues. Second, institutions: under Section 106 and the viability regime, the governance of betterment value capture became fragmented, incorporating an array of unelected 'experts', models and rules which worked to reduce the discretion of elected local planning authorities. Third, discourse: from the 1980s onwards, the Labour Party's discourse around betterment value capture converged with that of the Conservative Party. This convergence was partly driven by ideational changes in the Labour Party and in the discipline of economics. Taken together, these three faces help explain why betterment value capture policy moved away from the realm of contestation and contingency and towards that of fate and necessity. [ABSTRACT FROM AUTHOR]

Urban rail transit (URT) infrastructure is critical for the economic and social development of an economy. The construction and operation of URT systems invariably require significant investment. Yet, governments are often subjected to fiscal constraints and cannot provide taxpayers with efficient and effective rails services. Development-based land value capture (LVC), a method for funding and financing infrastructure, can support URT delivery. However, there has been a tendency to apply LVC in a piecemeal manner. Thus, an absence of a systemic strategy to assist policy-makers with the implementation of LVC contributes to the ongoing debate about its effective use to support URT. Using the lens of systems thinking, our research aims to address the following research question: How can governments create an effective LVC strategy to support the procurement of their URT systems and networks? Drawing on the experiences of three Chinese cities, we develop a systemic model that policy-makers can draw upon to ensure the successful implementation of LVC. The contributions of our paper are threefold as we: (1) summarise the threads of LVC knowledge and its associated challenges; (2) provide the state-of-art experience of three cities that are using LVC to support their URT projects; and (3) identify the underlying systemic interdependencies that influence the successful adoption of the LVC strategy to support the URT system and network. [ABSTRACT FROM AUTHOR]

Exploring the short-term and long-term interests is relevant towards understanding the perceptions of rural collectives around Land Value Capture (LVC) changes caused by land marketization. So far, research has focused too much on the short-term interest, arguing that rural collectives often show positive perceptions because of their LVC gains. However, rural collective perceptions cannot be sufficiently explored if the long-term interest is neglected. This paper attampts to answer "Which kind of interest dominates the perceptions of rural collectives around LVC changes caused by rural land marketization reform?" Empirical answers come from a Chinese case study that varies in rural collectives' types, space, and institutional settings (modes). Data were collected employing 95 semi-structured interviews out of 430 rural land transactions in five counties/districts piloting rural land marketization reform. Within a mixed-method, the qualitative analysis was used as a predominant method in this study. In contrast to the literature, these results indicate that the perceptions of some rural collectives are not so positive, especially if the 'rural land stock cooperative system' has not been put in place yet. The reason for this is that rural collectives focus on the long-term interest rather than on the short-term interest. These findings shed new light on ongoing debates about future trends regarding the collectives. • Some rural collectives are not so positive to LVC changes by land marketization. • Rural land stock cooperative system has not been fully put in place yet. • Rural collectives focus on long-term interest, rather than short-term interest. • The findings support rural revitalization, instead of rural decay. • Collectives won't be overshadowed by governments. [ABSTRACT FROM AUTHOR]

Land value capture (LVC) has shown great potential in financing urban rail system infrastructure, such as transit-oriented development (TOD). However, the government of Indonesia has not tapped this potential in order to close its infrastructure financing gap. This study aims to determine the incremental rate captured through a tax-based LVC mechanism and develop a property market-based mobile application to implement the scheme, with six TOD areas in seven stations of the Mass Rapid Transit (MRT) Jakarta Phase I project as the case study. This research used literature and benchmarking studies to collect data, followed by the calculations of the transport premium, total value increment, and value capture rate for the betterment tax implementation to obtain its research objectives. The results showed that a 5.82% value capture rate could recover 53.8% of the government's initial investment for the project. Based on that figure, betterment tax rates of 0.3% and 0.1% are proposed for residential properties within the radius of 100-400 m and 400-700 m from transit stations, respectively. Meanwhile, 2.5% and 2.4% tax rates are proposed for commercial properties within the radius of 0-300 m and 300-600 m, respectively. Furthermore, the activity workflow for a mobile application in which the government can issue tax invoices and taxpayers can make payments is also proposed to facilitate the implementation of LVC as an alternative source to finance TOD projects. [ABSTRACT FROM AUTHOR]

Urban rail transit (URT) promotes sustainable urban development by alleviating traffic congestion and environmental degradation. However, many cities have developed URT projects recently, often encumbering local governments with debt. Land value capture (LVC) is an important theory that explores the new financing modes for urban rail transit. Despite prior studies that have found a positive relationship between URT and property prices based on LVC, limited empirical studies explore sustainable paths to better examine the effect of URT on property prices. This study collects 1036 properties in Xuzhou, China. Meanwhile, multiple regression models are established to analyze the impact mechanism of URT on property prices, and to further examine the combination effects of multidimensional neighborhood infrastructure and URT on property prices from the perspective of sustainable development. The results show that the coefficients of URT in all models are negative, indicating that the property prices decrease as the distance from the URT to the property increases, and the positive coefficient of TRANS implies that the transfer station would raise house prices. Combining Park, School (and Hospital) variables with URT, respectively, the negative coefficients of URT increase from 0.0435 to 0.0846 and 0.0525, and these URT variables are significant, indicating that parks, schools, and hospitals can enhance the effect of URT on property prices. However, adding the Shopping variable, the negative value of URT drops from 0.0435 to 0.0192, and is not significant, which means shopping centers have a restraining impact. Moreover, the combination of parks and schools (and hospitals) can better enhance the effect of URT on property prices (the highest URT negative coefficient is 0.0870). This study can provide a reference for the government to facilitate URT planning and better decision-making.