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Financing Transit Systems Through Value Capture
Author(s) -
Smith Jeffery J.,
Gihring Thomas A.
Publication year - 2006
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.2006.00474.x
Subject(s) - land value , transit (satellite) , revenue , value capture , light rail transit , value (mathematics) , debt , transit time , transport engineering , business , finance , economics , agricultural economics , public transport , engineering , statistics , mathematics , value creation , industrial organization
A bstract . Much of the literature on value capture reports empirical findings on the incidence of rising land values related to distance from a transit stop following the installation of rail transit improvements. This annotated bibliography shows that the elevated value effects of transit access are well documented. The authors maintain that it is now time for transit/land‐use research to move from hypothesis testing to practical applications of value capture . Longitudinal models can help predict land‐value increments over a period of time, yielding estimates of the total capturable revenues that would support the debt financing of transit improvement projects.