Guidebook to Funding Transportation Through Land Value Return and Recycling (2018) / Chapter Skim
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Pages 101-112
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C-1 This Appendix provides a quick resource for those with specific questions related to land value return concepts and implementation. Click on the question below to be brought to the answer later in this appendix.
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C-2 Guidebook to Funding Transportation Through Land Value Return and Recycling General Land Value Return Questions 1. How is the value of public goods and services reflected in land prices?
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Common Questions and Answers C-3 • Supports equitable payments. User fees and access fees can be structured so that those who benefit from public goods and services -- or those who impose costs on the provision or enjoyment of public goods and services -- will make payments in proportion to the benefits that they receive or to the costs that they impose.
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C-4 Guidebook to Funding Transportation Through Land Value Return and Recycling services that the taxpayer receives in return. Thus, taxes are unpopular, in part, because people do not know how their tax revenues are benefiting them.
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Common Questions and Answers C-5 an area zoned for offices may not be willing to sell their land at the current price. Developers, therefore, may begin to develop less appropriate alternative sites, in contradiction to land use plans.
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C-6 Guidebook to Funding Transportation Through Land Value Return and Recycling 10. Can land value return generate significant revenue?
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Common Questions and Answers C-7 12. Which land value return methods are (or could be)
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C-8 Guidebook to Funding Transportation Through Land Value Return and Recycling development (e.g., a senior living complex could not be required to pay for the expansion of a nearby elementary school) ; and • The payment (or infrastructure contribution)
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Common Questions and Answers C-9 Land Value Tax and Split Rate Tax Questions 17. Would jurisdictions lose revenue by reducing the tax rate on improvements?
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C-10 Guidebook to Funding Transportation Through Land Value Return and Recycling Likewise, any down-zoning would reduce land values. As a result of reducing owners' potential for generating income from their sites, a jurisdiction would collect less tax.
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Common Questions and Answers C-11 Yet, under the traditional property tax, owners of boarded-up buildings and vacant parcels pay less for the maintenance of the infrastructure that imparts as much value to their land as it does to neighboring property that is developed. If development occurs on a vacant parcel, user charges related to the use of the property will kick in.
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C-12 Guidebook to Funding Transportation Through Land Value Return and Recycling Where vacant land or boarded-up buildings exist in areas zoned for residential use, a land value tax system will create an incentive to develop residential buildings. The type of residential development that occurs will depend on market demand, zoning, and the availability of financing.
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