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07-08: Instruments to Facilitate Land Value Capture
Supporting Fiscal Aspect of Land Administration through an LADM-based Valuation Information Model
1Yıldız Technical University, Department of Geomatic Engineering, Turkey; 2Dutch Cadastre, Land Registry and Mapping Agency, The Netherlands; 3Mimar Sinan Fine Arts University, Turkey; 4Delft University of Technology, Faculty of Architecture and the Built Environment, Department OTB, GIS Technology Section, The Netherlands; 5Aalborg University, Department of Development and Planning, Denmark
This paper describes an ISO Land Administration Domain Model (LADM) based valuation information model for the specification of inventories used in immovable property valuation made for public purposes. The Information model has been designed to facilitate all stages of property valuation applied for recurrently levied immovable property taxation, namely the identification of properties, assessment of properties through single or mass appraisal procedures, generation and representation of sales statistics, and dealing with appeals. It enables the recording of data concerning the parties that are involved in valuation practices, property objects that are subject of valuation, as well as their geometric, legal, physical, economic, and environmental characteristics. It is supposed that LADM Valuation Information Module will provide public bodies a common basis for the development of local or national databases, and can act as a guide for the private sector to develop information technology products.
Capturing Land Value Uplift to Deliver Infrastructure and Affordable Housing in a Market Economy - Recent UK Experience
Royal Institution of Chartered Surveyors, United Kingdom
Following the financial crash governments increasingly have been looking for ways to recoup the costs of infrastructure and other public goods. A key policy measure has been based on the capture of land value uplift arising either from public planning decisions or from the actual provision of infrastructure. This paper examines measures promoted and implemented in the UK through the planning system in the last decade.
Land value capture raises ideological issues and technical land appraisal issues in devising a suitable method for implementation. It affects developed economies and emerging economies. The paper mainly addresses the technical issues associated with three related government measures. It concludes that what has been put in place is overly complex. A simple direct land taxation regime may be more effective at achieving its objectives, be easier to implement and in particular be within the capacity of emerging economies.
Evaluating Value Capture Instruments
Oxford Brookes University, United Kingdom
Since Henry George’s Poverty and Progress governments have developed a series of value capture instruments to extract increases in land values. These can be seen as alternatives to taxes. Whereas the taxes explicitly extract value from the owner or developer many of the other instruments can be argued to do this by stealth. This stands in the way of evaluating the effectiveness of such instruments and whether their use is the most effective way of achieving the desired objective or whether explicit taxation might be more effective. The paper applies some standard measures of the efficiency of taxes to evaluate the value capture instruments, including equity, certainty of liability, administrative efficiency, transparency, convenience, neutrality, and fairness. It compares their performance against these to those property taxes that can be used as means of value capture.
Land and Transport Policy Coordination: A proposed Recipe for Leveraging Land for Funding Infrastructure
1Universidad de los Andes, Colombia; 2World Bank Group
This paper presents a general methodology for integrating transport and land use planning as the first step to leverage land values to fund infrastructure. It also include planning tools for cities to consider to integrate their land use actions with transport investment. The proposed methodology seeks to promote planning policy documents in where objectives are agreed upon and strategies. Key strategies found in this study that cities in developing countries could use to leverage land to fund infrastructure include transit-oriented development, land value capture, congestion charging, participatory planning and tactical urbanism. This study undertook a case study in the city of Semarang. After applying the proposed planning methodology, key priorities for the city were identified. From results at the city of Semarang, we found from public participation exercises that If participatory planning and a proper cadaster system is not present, changes are not likely to be sustainable in the long-term.