The value capture potential of the Lisbon Subway
This paper tries to build on traditional value capture measures, to estimate the potential of application of some of these mechanisms to the Lisbon subway, examining their ability to contribute to cover the financial costs of the system operation and development. The study will just focus on the municipality of Lisbon where this system mainly operates. This research uses spatial hedonic pricing models of the real estate of the region, calibrated on previous stages of the study, to asses, to which extent, transportation infrastructure is currently capitalised into the real estate market. The paper uses a Monte Carlo simulation procedure to estimate a synthetic population of residential and non residential properties that matches the census blocks statistics, allowing, measuring the subway valuation for each synthetic property and aggregate the results for the whole municipality. This potential value capture estimate is then used to estimate an annual tax that could be charged under different value capture measures configurations (i.e. land value tax, special assessment). The results suggest that there is a significant potential of the use of this instrument to finance the subway infrastructure.
Volume (Year): 5 (2012)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.jtlu.org/index.php/jtlu|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Oates, Wallace E, 1973. "The Effects of Property Taxes and Local Public Spending on Property Values: A Reply and Yet Further Results," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 1004-1008, July-Aug..
- Aisling J. Reynolds-Feighan & Joan Durkan & Joe Durkan, 2000. "Comparison of subvention levels for public transport systems in European cities," Open Access publications 10197/124, School of Economics, University College Dublin.
- John D. Benjamin & G. Stacy Sirmans, 1996. "Mass Transportation, Apartment Rent and Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 1-8.
When requesting a correction, please mention this item's handle: RePEc:ris:jtralu:0077. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Arlene Mathison)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.