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Land Value Capture

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  • Wetzel Dave
    Hi Terence Southampton University s Transportation Research Group has published a report from their Transport Visions Network on Economy, Finance and Equity .
    Message 1 of 2 , Nov 14, 2003
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      Hi Terence

      Southampton University's Transportation Research Group has published a
      report from their Transport Visions Network
      on "Economy, Finance and Equity".

      See: www.trg.soton.ac.uk/research/TVNetwork/reports/report8.pdf

      in which they quote Fred Harrison, Don Riley and myself. There conclusions
      include:-

      "Public investment in transport infrastructure and services improves access
      and in turn property values. It is therefore appropriate that such value
      increases be considered as a source of transport funding."

      I'm happy to send more info' if requested.

      Dave

      Dave Wetzel
      Vice-Chair
      Transport for London
      42-50 Victoria Street. London.
      SW1H 0TL. UK

      Tel: 020 7941 4200



      -----Original Message-----
      From: tbendixson [ mailto:t.bendixson@...
      <mailto:t.bendixson@...> ]
      Sent: 14 November 2003 09:42
      To: Wetzel Dave
      Subject: Re: Congestion Charging


      Dear Dave

      Thanks for your reply. Interesting. I remember reading about LVT years ago
      and am now beginning to recall the logic. As you say, a key feature would be
      pressure on owners to develop and redevelop urban sites thereby moving land
      uses towards more compact and dense patterns.

      Let me know if anything interesting comes up from your international
      contacts.

      Regards

      Terence Bendixson
      020 7352 3885



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    • Wetzel Dave
      One of the biggest difficulties we face when trying to improve public transport is finance. A London property developer, Don Riley, in his book Taken for a
      Message 2 of 2 , Feb 25, 2004
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        One of the biggest difficulties we face when trying to improve public
        transport is finance.

        A London property developer, Don Riley, in his book "Taken for a Ride", has
        estimated that the Jubilee Underground Line extension in South and East
        London has raised land values by £13 billion within 1 km radius around the
        ten new stations on the line.

        The line only cost £3.5bn to build.

        If this value were collected by means of a Location Benefit Levy then there
        would have been enough income to pay for three new lines without any
        resource to taxes on trade or higher fares.

        Happy to send more information personally to anyone requesting it.

        Dave

        Dave Wetzel
        Vice-Chair
        Transport for London
        42-50 Victoria Street. London.
        SW1H 0TL. UK

        Tel: 020 7941 4200



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