Value capture and land policies

"Attention to value capture as a source of public revenue has been increasing in the United States and internationally as some governments experience declines in revenue from traditional sources and others face rapid urban population growth and require large investments in public infrastructure. Privately funded improvements by land-owners can increase the value of their land and property. Public actions, such as investments in infrastructure, the provision of public services, and planning and land use regulation, can also affect the value of land and property. Value capture is a means to realize as public revenue some portion of that increase in value through various revenue-raising instruments. This book, based on the Lincoln Institute of Land Policy's sixth annual land policy conference in May 2011, examines the concept of value capture, its forms, and applications. The first section, on the conceptual framework and history of value capture, reviews its relationship to compensation for partial takings; the long history of value capture policies in Britain and France; and the remarkable expansion of tax increment financing in California. The second section reviews the application of particular instruments of value capture, including the conversion of rural to urban land in China, town planning schemes in India, and community benefit agreements. The third section focuses on ends instead of means and examines the use of value capture by community land trusts to provide affordable housing, the use of land development to finance transit, and the use of various fees to fund airports. The final section explores potential extensions of value capture mechanisms to tax-exempt nonprofits and to the management of state trust lands in the United States."--Publisher's website

Land value capture: types and outcomes / Gregory K. Ingram and Yu-Hung Hong -- Land value capture and justice / Susan S. Fainstein -- Takings and givings: the analytics of land value capture and its symmetries with takings compensation / Perry Shapiro (Commentary, Henry E. Smith) -- The unearned increment: property and the capture of betterment value in Britain and France / Philip A. Booth (Commentary, Louis G.H. Albrechts) -- Special assessments in California: 35 years of expansion and restriction / Dean J. Misczynski (Commentary, Carol E. Heim) -- Collecting land value through public land leasing / John E. Anderson (Commentary, Guanzhong James Wen) -- A better way to grow?: town planning schemes as a hybrid readjustment process in Ahmedabad, India / Bishwapriya Sanyal and Chandan Deuskar (Commentary, Bipasha Baruah) -- Are property-related taxes Effective Value Capture Instruments? / Lawrence C. Walters (Commentary, Jay K. Rosengard) -- Community benefits agreements in a value capture Context / Laura Wolf-Powers (Commentary, Julian A. Gross) -- Science parks and land value capture / Michael I. Luger and Justyna Dabrowska (Commentary, Weiping Wu) -- The affordability challenge: i…