Jeff Jamawat looks at the promise of a nuanced approach to tax reform being tested in 17 local jurisdictions in Pennsylvania to head off the spiral of rising prices and displacement instigated by the construction of transit infrastructure.
Across the country, there is rising concern that the economic growth and development spurred by the construction of transit infrastructure may be pushing out those very residents who rely on the service for their daily commute and personal mobility.
Rick Rybeck of Just Economics, a DC-based consulting firm, has proposed a potential solution in the form of a two-prong approach to tax reform: "lower the property tax on building values
and raise the property tax on land values." While, "[a] lower tax rate makes [buildings] cheaper to construct, improve, and maintain," explains Rybeck, "a higher tax on land values can keep costs from spiraling out of control based on real estate speculation," says Jamawat.
"This tax-based strategy is essentially a way of rewarding the
developer for creating positive externalities (e.g., increasing the
supply of affordable housing in TOD) and encouraging landowners to put
their lands to the highest and best use."
FULL STORY: Can Tax Reform Make Transit-Oriented Development Communities Affordable?
California Cities Continue Fight Against State Preemption
Lafayette City Council Member Susan Candell penned an op-ed in support of a lawsuit to invalidate Senate Bill 9 by four Southern California cities, highlighting a recent supportive court filing by UCLA economic geographer Michael Storper.
A Dirty Little Secret: Rising Property Values Are Incompatible With Affordability
Rising property values come with positive community development, but this shift can make neighborhoods inaccessible to low-income renters and fixed-income homeowners.
In Defense of Rent Control
Rent control policies, widely panned by economists, have been shown to slow displacement and keep housing affordable.
Eugene Ends Parking Minimums
In a move that complies with a state law aimed at reducing transportation emissions, Eugene amended its parking rules to eliminate minimum requirements and set maximum parking lot sizes.
How Paris, Texas Became a ‘Unicorn’ for Rural Transit
A robust coalition of advocates in the town of 25,000 brought together the funding and resources to launch a popular bus service that some residents see as a mobility lifeline—and a social club.
San Diegans at Odds Over ‘Granny Towers’
A provision in the city’s ADU ordinance allows developers to build an essentially unlimited number of units on single-family lots.
San Francisco Approves Zoning Reforms to Avoid ‘Builder’s Remedy’
The county board of supervisors voted to approve zoning changes that bring it closer to compliance with state housing mandates.
Where Are Millennials Moving to?
As the housing crisis rages on, four U.S. states are seeing high levels of new migration from young and middle-aged workers.
California Cities Cite Historic Preservation to Block Development
Are some cities using historic designations disingenuously?
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Chaddick Institute at DePaul University
Park City Municipal Corporation
National Capital Planning Commission
City of Santa Fe, New Mexico
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