Implementing Value Capture in Latin America : Policies and Tools for Urban Development

✍ Scribed by Martim O. Smolka

• Publisher: Lincoln Institute of Land Policy
• Year: 2013
• Tongue: English
• Leaves: 72
• Edition: 1
• Category: Library

✦ Synopsis

In Latin America, conventional fiscal policies and instruments largely neglect how public investments in urban infrastructure and services benefit private landowners, resulting in land values that are distributed unequally among landowners and other stakeholders. The goal of value capture is to transform these land value increments into public revenue. This report provides a review of value capture's antecedents in Latin America and its longstanding presence in the urban planning agenda. The author also examines a variety of instruments in three categories: property taxation and betterment contributions; exactions and charges for building rights or the transfer of development rights; and large-scale approaches such as development of public land through privatization or acquisition, land readjustment, and public auctions of bonds for purchasing building rights.