scholarly journals Individual property tax to fund public transport

2021 ◽  
Vol 7 (1) ◽  
pp. 6-19
Author(s):  
E. V. Leontev ◽  
◽  
Yu. V. Leontyeva ◽  
Keyword(s):  
Public Transport ◽  
Alternative Model ◽  
Property Tax ◽  
Market Value ◽  
Hedonic Pricing ◽  
Transport Infrastructure ◽  
Residential Property ◽  
Individual Property ◽  
Prime Concern ◽  
The Impact

Efficient and reliable public transport is of prime concern to city dwellers. To function efficiently, public transport generally needs subsidies from the state or local government. Our goal was to design and develop an alternative model of property tax that would provide financing for public transport. It was hypothesised that if the market value of real estate depends on the proximity of public transport, property tax can be a reliable source of financing for public transport. Based on the hedonic pricing theory, we used multiple regression to measure the impact of public transport proximity on the value of residential property. The data on the market value of property and property tax was taken from statistical tax reporting forms of the Federal Tax Service. The data on various public transport infrastructure facilities was used from the specialized open registers. We tested our alternative model of property tax, using the case of the Ekaterinburg Metro and the Tram and Trolleybus Company, through regression analysis of 7,685 objects of residential property in the City of Ekaterinburg. It was found that the efficiency of the underground service is higher than that of the city’s tram network. On the average, the proximity of underground stations increases the value of housing by over 6%. As predictive estimation of the amount of tax determined by the proximity of public transport showed, the alternative model of property tax is sufficient to cover capital expenditures of the city’s public transport operators and could, therefore, contribute to further expansion and modernization of the transport network.

Social and Geographic Inequities in the Residential Property Tax: A Review and Case Study

2001 ◽  
Vol 33 (5) ◽  
pp. 881-900 ◽  
Author(s):  
Richard Harris ◽  
Michael Lehman
Keyword(s):  
Metropolitan Areas ◽  
Property Tax ◽  
Market Value ◽  
Social Geography ◽  
Residential Property ◽  
Assessment Data ◽  
Market Values ◽  
Geographical Variations ◽  
The Social

Although the fact is not widely acknowledged by urban scholars, because of the way that it is administered the property tax helps to shape the social geography of metropolitan areas. Research by public finance specialists has shown that cheap housing is often overassessed, and that variations in assessment ratios (the ratio of assessed to market values) usually favour the suburbs. Sales prices and assessment data from the Hamilton, Ontario, metropolitan area for 1976, 1996, and 1999 confirm these patterns and show that they are persistent. In addition, cross-tabulations by market value and location show that geographical variations in assessment ratios are caused by the inequitable treatment of inexpensive property, not vice versa. A 1998 reassessment made the situation worse. The main difficulty in reducing tax inequities is political, not technical.

scholarly journals Assessment of the Impact of Public Transport Accessibility on the Value of Urban Residential Real Estate

2021 ◽  
Vol 20 (1) ◽  
pp. 62-83
Author(s):  
E. V. Leontev ◽  
◽  
I. A. Mayburov ◽  
Keyword(s):  
Real Estate ◽  
Public Transport ◽  
Real Estate Market ◽  
Transport Infrastructure ◽  
Lower Sensitivity ◽  
Residential Real Estate ◽  
Metro Station ◽  
Average Value ◽  
The Cost ◽  
The Impact

Currently, analysis of the impact of public transport on real estate and its value is widely demanded in the world. The analysis is used to plan investments in public transport and the efficiency of public transport networks. In Russia, such studies have been carried out mainly in the framework of the evaluation of specific properties, which does not make it possible to macroanalyze the urban public transport environment and compare them with each other. The aim of the work is to study the influence of the proximity of public transport infrastructure on the cost of urban residential real estate, to determine the average value of such an impact for Yekaterinburg. In this study, we intend to confirm the hypothesis about different influence of the proximity of a public transport stop on the cost of housing, taking into account the different set of attributes that characterize it. The calculations were carried out using the analysis of the supply of the real estate market, carried out with the method of multiple regression, simultaneously with the geo-positioning of real estate units on the map to calculate the distance of each object to the nearest public transport stop of a certain type. Based on the results of the calculations, a global tendency towards a higher cost of the properties that are close to tram stops or metro stations in Yekaterinburg is confirmed, and the share of the value of a property generated by the proximity of a public transport stop was calculated. The authors confirmed the hypothesis about varying sensitivity of residential real estate to the proximity of public transport stops. Newer homes have lower sensitivity to proximity to public transport stops than older ones. The obtained empirical evidence of the influence of public transport infrastructure on the value of residential real estate demonstrates the most significant contribution to the value of a real estate object, the proximity to the metro station in Yekaterinburg (3.0 – 12.0%). The tram infrastructure showed a slightly lower impact on the total cost of the facility (3.2 – 8.8%). The revealed interdependencies make it possible to apply the obtained data to forecasting the growth of the taxable base for property tax during the construction of new transport lines.

scholarly journals CALIBRATION OF VILNIUS PUBLIC TRANSPORT MODEL

Transport ◽  
2006 ◽  
Vol 21 (3) ◽  
pp. 201-206 ◽  
Author(s):  
Rasa Ušpalyte-Vitkūniene ◽  
Marija Burinskiene ◽  
Vytautas Grigonis
Keyword(s):  
Public Transport ◽  
Information Technologies ◽  
Transport Model ◽  
Transport Infrastructure ◽  
Transport Systems ◽  
Transport Modelling ◽  
Financial Investment ◽  
Performance Quality ◽  
Passenger Flows ◽  
The Impact

The application of information technologies preconditions the optimisation of performance of transport systems: improvement of the performance quality, safety and efficiency of the overall system, increase in capacity, reduction of the trip duration without high financial investment into construction of the new technical infrastructure. The transport modelling is the only economical and sufficiently reliable way to carry out a forward assessment of the impact of the innovations to be applied on the overall system. The network of Vilnius public transport was built up on the data of 2002, and the year 2002 saw the last comprehensive surveys. Building up the PT network the data was taken from the VIDAS database, created in 2002 while drafting the special plan for Vilnius transport infrastructure (tram) development. The morning rush hour, when the passenger flows are maximum, was chosen for the modelling. Calibration of Vilnius PT network was carried out after selection of three possible methods: TSys‐based, Headway‐based and Timetable‐based. In the timetable‐based model Logit, Kirchhoff, BoxCox and Lochse distribution factors are inter‐changed. Analysis of all coefficients received when modelling allows a conclusion that further modelling of the development of Vilnius public transport network should be based on Timetable‐based model choosing Kirchhoff or BocCox distribution laws, whereof conformity to the basic averages of coefficients of the 2002 survey is respectively 0,82 and 0,81. This would facilitate adopting solutions to the development of the public transport systems and would increase their reliability. The calculated coefficients revealed that TSys‐based methods were mostly removed from reality, and the average coefficient of failure to conform to the data of the 2002 survey is 0,24. This method did not give any data about the load on the stops, although the number of trips modelled with the help of this method was most proximate to the survey data, i.e. 0,69 %.

Impact of Urban Rail Transit on Residential Property Values in Hangzhou

2014 ◽  
Vol 580-583 ◽  
pp. 1306-1310
Author(s):  
Lian Fa Ruan ◽  
Jing Ping Yin
Keyword(s):  
Property Values ◽  
Positive Influence ◽  
Hedonic Pricing ◽  
Urban Rail Transit ◽  
Residential Property ◽  
Rail Transit ◽  
Transit System ◽  
Urban Rail ◽  
Residential Property Values ◽  
The Impact

This research investigates the impact of the first metro line (Line 1) in Hangzhou on its station-area residential property values. A hedonic pricing model shows that Line 1 had a statistically significant and positive effect on residential prices in its operation period. Compared with its construction phase, the impact did not change significantly, indicating that metro rail transit had a long-term positive influence on the station-area property values. These findings suggest that such capitalization is likely to lead to high-density and transportation-oriented development. While planning the urban rail transit system, such impact should be fully considered.

The impact of senior house developments on surrounding residential property values

2016 ◽  
Vol 34 (5) ◽  
pp. 415-433 ◽  
Author(s):  
Antti Tapio Kurvinen ◽  
Tanja Tyvimaa
Keyword(s):  
Positive Impact ◽  
Property Values ◽  
Hedonic Pricing ◽  
Residential Property ◽  
Content Type ◽  
Senior Housing ◽  
Housing Developments ◽  
Matching Procedure ◽  
Residential Property Values ◽  
The Impact

Purpose Even as many countries are facing changes in demographic profile and new types of senior housing developments are becoming more important, there is limited evidence for the development impact of a senior house on surrounding residential property values. The purpose of this paper is to address the void in knowledge, investigating the impact of senior house developments on apartment values in Tampere, Finland. Design/methodology/approach To specify valuation effects of proximate senior house development projects, advanced research design combining propensity score matching procedure and hedonic pricing models is used. Findings The results show that a senior house development has a significant positive impact on proximate residential property values within a 500 metre radius. The impact is found to be the highest in underdeveloped neighbourhoods. Nevertheless, in neighbourhoods where property values and demand for housing units are higher and senior house developments fall into the criteria of infill development, a premium is lower, but still statistically significant and notable in magnitude. Research limitations/implications This paper studies apartment values only in Tampere, Finland, and it is important to notice that local regulations and market conditions may have a notable impact on the outcomes from senior house developments. Originality/value This study is the first of its kind to address a number of empirical issues and provide with statistically significant evidence for positive impacts from senior house developments – encouraging investors and developers to build senior houses.

scholarly journals Spatial Econometric Cross-Border Traffic Analysis for Passenger Cars – Hungarian Experience

2021 ◽  
Vol 33 (2) ◽  
pp. 233-246
Author(s):  
Tibor Sipos ◽  
Zsombor Szabó ◽  
Árpád Török
Keyword(s):  
Public Transport ◽  
Border Crossing ◽  
Transport Infrastructure ◽  
Passenger Cars ◽  
Spatial Econometric ◽  
Cross Border ◽  
Spatial Inequalities ◽  
Set Up ◽  
The Individual ◽  
The Impact

The role of cross-border commuting needs is remarkable, given that large cross-border cities tend to have high traffic attractiveness. Thus, agglomeration effects are strongly prevalent in populous settlements close to the border. This is due to the fact that both Hungary and the neighboring countries are burdened by spatial inequalities; therefore, the traffic at the individual border crossing points is unbalanced. Our aim is to show the extent to which the introduction of certain public transport modes contributes to the reduction of cross-border passenger car traffic. In order to do this, we have to set up a spatial econometric model that can simultaneously handle the parallel public transport infrastructure, the cross-border attractiveness of border cities, and the impact of spatial inequalities. The results of the research shed light on how the introduction of each means of transport contributes to increasing the competitiveness of border regions. This will demonstrate the effectiveness of policy tools that can improve the competitiveness of a given macroregion.

scholarly journals Metro and elderly health in Hong Kong: protocol for a natural experiment study in a high-density city

BMJ Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. e043983
Author(s):  
Guibo Sun ◽  
Yao Du ◽  
Michael Y Ni ◽  
Jianting Zhao ◽  
Chris Webster
Keyword(s):  
Hong Kong ◽  
Health Outcomes ◽  
Public Transport ◽  
Social Inclusion ◽  
Natural Experiment ◽  
Well Being ◽  
Transport Infrastructure ◽  
Before And After ◽  
Elderly Health ◽  
The Impact

IntroductionPublic transport accessible to older people may offer a transformative solution to achieving healthy ageing. However, the evidence to support such transport infrastructure modifications is unclear. Previous studies on public transport use and elderly health were mostly observational studies using cross-sectional data. Few studies have examined the before-and-after effects of a new metro, for example, to see if it leads to improved elderly health.Methods and analysisWe use a new metro line in Hong Kong as a natural experiment to examine the impact of the metro-led public transport intervention on elderly health. In Hong Kong, more than 90% of daily travels are made by public transport. The public transport modifications consist of the new metro line with eight stations and changes in the walking environment and bus services around the stations. We will look at the before-and-after differences in public transport use and health outcomes between elderly participants living in treatment neighbourhoods (400 m walking buffered areas of the new metro stations) and in control groups (living in comparable areas but unaffected by the new metro). Questionnaire-based baseline data were collected in 2019 before the COVID-19 pandemic, while some qualitative interviews are ongoing. Amid the pandemic, we conducted a quick telephone-based survey of COVID-19’s potential impact on public transport use behaviours of our elderly cohort in September 2020. Note there is no lockdown in Hong Kong until the writing of the paper (January 2021). After the new metro opens, we will conduct a follow-up survey, tentatively in late 2022. We aim to investigate if the new metro and the associated changes in the built environment have any effects on public transport use behaviours, physical activity and wider health outcomes among the elderly (eg, social inclusion, quality of life, subjective well-being).Ethics and disseminationThe Human Research Ethics Committee of the University of Hong Kong reviewed and approved the study procedures and materials (reference number: EA1710040). Results will be communicated through scientific papers and research reports.

scholarly journals Realization of the Benefits from the Functioning of Municipal Electric Transport in the Taxation of the Property of Individuals

2021 ◽  
Vol 20 (3) ◽  
pp. 406-427
Author(s):  
E. V. Leontev ◽  
◽  
I. A. Mayburov ◽  
Keyword(s):  
Real Estate ◽  
Public Transport ◽  
Dynamic Equilibrium ◽  
Property Tax ◽  
Transport Infrastructure ◽  
Electric Transport ◽  
Relevant Today ◽  
Lump Sum ◽  
Benefit Principle ◽  
The Cost

The problem of introducing the benefit principle into local taxation for the implementation of investment projects for the development of municipal public transport is extremely relevant. Today, however, such projects are financed by the lump-sum method, which creates prerequisites for an even greater distortion of the benefit principle. Public transport being as an element of local public goods, there is a strict binding to the locality, which makes it difficult for taxpayers living outside such zones to use it. The purpose of the study is to substantiate the possibility of introducing the benefit principle into the taxation of property owned by private individuals in the case of the city of Yekaterinburg by establishing the dependence of the availability of tram stops on the capitalization of the cost of residential real estate. In this study, we intend to confirm the hypothesis about the possibility of using a differentiated property tax rate, which will allow us to introduce various tax instruments for a fairer and fiscally more efficient tax model that provides for additional taxation of residents who benefit the most from electric municipal transport. Calculations were carried out by comparing the homogeneity of the price reaction to the proximity of tram stops when zoning by type of real estate and without such zoning. The calculations have shown that the capitalization of the proximity of tram stops in the cost of housing in Yekaterinburg fits both into the static and dynamic equilibrium model. At the same time, the model with zones previously combined by type of real estate showed more uniform results in terms of the degree of influence of the proximity of tram stops on the cost of housing. As a result of the study, it was possible to identify geographically isolated zones in Yekaterinburg with the most smoothed effect of the interaction between the objects of the proximity of tram stops on the price of real estate. These zones are also ready-made fiscal zones with an increased property tax, the protected proceeds from which should become a source for the creation of new transport infrastructure of the zone. The hypothesis of the study is confirmed. This model of taxation provides a high level of fairness; at the same time it is practically applicable in the conditions of Yekaterinburg.

Sign in / Sign up

Export Citation Format

Share Document