The Ideal Source of Local Public Revenue
Free or underpriced curb parking creates a classic commons problem. Studies have found that between 8% and 74% of cars in congested traffic were cruising in search of curb parking, and that the average time to find a curb space ranged between 3 and 14 min. Cities can eliminate the economic incentive to cruise by charging market-clearing prices for curb parking spaces. Market-priced curb parking can yield between 5% and 8% of the total land rent in a city, and in some neighborhoods can yield more revenue than the property tax.
|Date of creation:||01 May 2004|
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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.:
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JCPR Working Papers
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- Richard L. Pollock & Donald C. Shoup, 1977. "The Effect of Shifting the Property Tax Base from Improvement Value to Land Value: An Empirical Estimate," Land Economics, University of Wisconsin Press, vol. 53(1), pages 67-77.
- Shoup, Donald C, 2003. "Buying Time at the Curb," University of California Transportation Center, Working Papers qt2wz7401k, University of California Transportation Center. Full references (including those not matched with items on IDEAS)