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A Strategic Approach to Financing Public Transport Through Property Values

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  • Marcus Enoch
  • Stephen Potter
  • Stephen Ison

Abstract

Traditional sources of finance are becoming inadequate to meet the needs of public transport. This has led to the emergence of a number of local earmarked tax and charging mechanisms, in particular road user charges and tolls. This article examines one group of such mechanisms: charges to property owners and developers, and draws on worldwide examples of the practical use of a number of such schemes. There are a number of practical difficulties with capturing value from property owners and developers, and these are detailed with a commentary on best practice.

Suggested Citation

  • Marcus Enoch & Stephen Potter & Stephen Ison, 2005. "A Strategic Approach to Financing Public Transport Through Property Values," Public Money & Management, Taylor & Francis Journals, vol. 25(3), pages 147-154, June.
    • Handle: RePEc:taf:pubmmg:v:25:y:2005:i:3:p:147-154
    DOI: 10.1111/j.1467-9302.2005.00467.x
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    References listed on IDEAS

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    1. Goldman, Todd & Corbett, Sam & Wachs, Martin, 2001. "Local Option Transportation Taxes in the United States (Part One:," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt7j11q63q, Institute of Transportation Studies, UC Berkeley.
    2. Goldman, Todd & Corbett, Sam & Wachs, Martin, 2001. "Local Option Transportation Taxes in the United States," University of California Transportation Center, Working Papers qt2g61665m, University of California Transportation Center.
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    Cited by:

    1. Yen, Barbara T.H. & Mulley, Corinne & Shearer, Heather & Burke, Matthew, 2018. "Announcement, construction or delivery: When does value uplift occur for residential properties? Evidence from the Gold Coast Light Rail system in Australia," Land Use Policy, Elsevier, vol. 73(C), pages 412-422.
    2. Natacha Aveline-Dubach & Guillaume Blandeau, 2019. "The political economy of transit value capture: The changing business model of the MTRC in Hong Kong [L'économie politique de la captation de valeur foncière (Land value capture): le nouveau modèle," Post-Print halshs-02100616, HAL.
    3. Boisjoly, Geneviève & Grisé, Emily & Maguire, Meadhbh & Veillette, Marie-Pier & Deboosere, Robbin & Berrebi, Emma & El-Geneidy, Ahmed, 2018. "Invest in the ride: A 14 year longitudinal analysis of the determinants of public transport ridership in 25 North American cities," Transportation Research Part A: Policy and Practice, Elsevier, vol. 116(C), pages 434-445.
    4. Yen, Barbara T.H. & Mulley, Corinne & Zhang, Min, 2020. "Equity in financing public transport infrastructure: Evaluating funding options," Transport Policy, Elsevier, vol. 95(C), pages 68-77.
    5. Medda, Francesca, 2012. "Land value capture finance for transport accessibility: a review," Journal of Transport Geography, Elsevier, vol. 25(C), pages 154-161.
    6. Natacha Aveline-Dubach & Guillaume Blandeau, 2019. "The political economy of transit value capture: The changing business model of the MTRC in Hong Kong," Urban Studies, Urban Studies Journal Limited, vol. 56(16), pages 3415-3431, December.
    7. Sinha, Meenakshi, 2021. "Harnessing land value capture: Perspectives from India’s urban rail corridors," Land Use Policy, Elsevier, vol. 108(C).
    8. Floater, Graham & Rode, Philipp & Friedel, Bruno & Robert, Alexis, 2014. "Steering urban growth: governance, policy and finance," LSE Research Online Documents on Economics 60776, London School of Economics and Political Science, LSE Library.
    9. Vejchodská, Eliška & Barreira, Ana Paula & Auziņš, Armands & Jürgenson, Evelin & Fowles, Steven & Maliene, Vida, 2022. "Bridging land value capture with land rent narratives," Land Use Policy, Elsevier, vol. 114(C).

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