Guidebook to Funding Transportation Through Land Value Return and Recycling (2018) / Chapter Skim
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Pages 1-7
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1 Guidebook to Funding Transportation Through Land Value Return and Recycling (the Guidebook) was developed as a guide to the potential consideration and implementation of land value return and recycling methods.
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2 Guidebook to Funding Transportation Through Land Value Return and Recycling Land value return–like methods are motivated by cost recovery. They are directed at both land and property values jointly or at development activity by land use and include the following methods: • Transportation utility fee, • Tax increment financing, • Development impact fee, and • Exaction or proffer.
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Summary 3 called the transportation improvement district. A similar district is also used in the case of the Metrorail.
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4 Guidebook to Funding Transportation Through Land Value Return and Recycling – In what jurisdiction(s) is the transportation investment located?
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Summary 5 Land Value Return Method Legislative and Legal Considerations Land value tax or split rate tax Land value return is embedded within the traditional property tax. Some state constitutions or statutes explicitly prohibit taxing land and buildings at different rates.
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6 Guidebook to Funding Transportation Through Land Value Return and Recycling • Consider transportation planning proactively alongside land use aspects and land use planning; • Develop champions and communication strategies for specific methods they choose to authorize; and • Recognize the factors that influence revenue generation, including benefits, location and size of benefits, beneficiaries, market conditions, and level of fees. Land Value Return Method Institutional and Administrative Considerations Land value tax or split rate tax Ability to use existing property assessment and taxation systems.
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Summary 7 The Guidebook includes eight appendices that document and elucidate specific topics: • Appendix A provides a list of acronyms used in the Guidebook and a glossary of terms. • Appendix B presents further details on all case examples.
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