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An Analysis of Value Capture Instruments

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  • Peter Abelson

Abstract

Value capture means capturing in some way the value of an investment in public infrastructure. Value capture methods include five forms of property‐related taxes: a tax on land value uplift, a broad‐based land tax, selective land tax, property taxes and transaction taxes. They may also include three forms of user charges: developer charges, consumer charges and sale of development rights. The paper assesses these options against three standard policy objectives of efficiency, equity and practicality. The paper finds that all three main forms of user charges meet these criteria. Special area land and property taxes may be appropriate in limited cases. Pure betterment taxes on land value uplift are rarely practical.

Suggested Citation

  • Peter Abelson, 2018. "An Analysis of Value Capture Instruments," Economic Papers, The Economic Society of Australia, vol. 37(4), pages 399-411, December.
    • Handle: RePEc:bla:econpa:v:37:y:2018:i:4:p:399-411
    DOI: 10.1111/1759-3441.12234
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    References listed on IDEAS

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    1. John Freebairn, 2016. "Taxation of Housing," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 49(3), pages 307-316, September.
    2. Wallace E. Oates & Wallace E. Oates, 2004. "An Essay on Fiscal Federalism," Chapters, in: Environmental Policy and Fiscal Federalism, chapter 22, pages 384-414, Edward Elgar Publishing.
    3. Liangyue Cao & Amanda Hosking & Michael Kouparitsas & Damian Mullaly & Xavier Rimmer & Qun Shi & Wallace Stark & Sebastian Wende, 2015. "Understanding the economy-wide efficiency and incidence of major Australian taxes," Treasury Working Papers 2015-01, The Treasury, Australian Government, revised Apr 2015.
    4. Infrastructure Victoria, 2016. "Value Capture - Options, Challenges and Opportunities for Victoria," Policy papers 201601, Infrastructure Victoria.
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