Value capture refers to a type of public financing where increases in private land values generated by public investments are “captured” or recouped by the public sector, rather than by individuals, to help pay for the initial investment needed for that development. This approach works in various ways and can take the form of taxes on the land owners, real estate taxes, or even impact fees. This book covers the conceptual frameworks and history of value capture; land value capture instruments; and specific applications for housing, community land trusts, transit, and science parks. It addresses value capture in the United States, Britain, France, India, Tokyo, and Hong Kong.
This volume features the papers presented at the Lincoln Institute's sixth annual Land Policy Conference in June 2011. The previous volumes are available:
Climate Change and Land Policies
Municipal Revenues and Land Policies
Property Rights and Land Policies
Fiscal Decentralization and Land Policies
Land Policies and Their Outcomes