Tax Increment Financing as a Value Capture Strategy in Funding Transportation
Value capture strategies apply a benefit principle to public infrastructure investment by creating a mechanism to capture the value created by infrastructure improvements. This paper focuses on one value capture strategy, tax increment financing (TIF), which uses future increases in property taxes generated by infrastructure improvements to finance the initial costs of the development. This paper reviews the history of TIF, its extent of use, and its mechanisms. Then it evaluates the applicability of TIF as a revenue strategy based on four criteria: efficiency, equity, revenue sustainability, and feasibility. Finally, it provides recommendations on how to improve and expand the use of TIF.
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- Summary URL:
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Availability:
- Find a library where document is available. Order URL: http://www.trb.org/Main/Blurbs/Economics_Demand_Management_and_Parking_Policy_164863.aspx
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Authors:
- Zhao, Zhirong (Jerry)
- Das, Kirti Vardhan
- Larson, Kerstin
- Publication Date: 2010
Language
- English
Media Info
- Media Type: Print
- Features: Figures; References;
- Pagination: pp 1-7
- Monograph Title: Economics, Demand Management, and Parking Policy
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Serial:
- Transportation Research Record: Journal of the Transportation Research Board
- Issue Number: 2187
- Publisher: Transportation Research Board
- ISSN: 0361-1981
Subject/Index Terms
- TRT Terms: Economic efficiency; Equity; Feasibility analysis; Financing; Infrastructure; Property taxes; Sustainable development; Value capture
- Uncontrolled Terms: Transportation infrastructure
- Subject Areas: Finance; Highways; I10: Economics and Administration;
Filing Info
- Accession Number: 01329022
- Record Type: Publication
- ISBN: 9780309160605
- Report/Paper Numbers: 10-3985
- Files: TRIS, TRB, ATRI
- Created Date: Feb 4 2011 11:23AM