Transcription of The Value Capture Approach To Stimulating Transit Oriented ...
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The Value Capture Approach To Stimulating Transit Oriented ...
Telephone: 250-360-1560 | email: The Value Capture Approach To Stimulating Transit Oriented Development And Financing Transit Station Area Improvements February 2009 Thomas A. Gihring, Planning Consultant Seattle, Washington Abstract This paper examines the proposition that a land Value tax (LVT) is an effective method to promote Transit Oriented development (TOD) and raise revenue to finance public improvements within urban rail Transit station areas. A case study of a proposed TOD special assessment district in Seattle demonstrates how changing the general property tax to a LVT would provide incentives to utilize sites more intensively.
The land value tax (LVT) as a reform measure has several advantages. As a result of placing a higher tax rate on land values, it would become more costly to hold onto vacant or underutilized sites. Lowering the tax rate on improvement values would engender
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