Value Capture: Special Assessments: An Introduction

Details

• Corporate Creators:
  United States. Department of Transportation. Federal Highway Administration. Office of Innovative Program Delivery
• Contributors:
  Bishop, Thay
• Subject/TRT Terms:
  Assessments Improvements Land Values Value Capture
• Resource Type:
  Brief
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Department of Transportation. Federal Highway Administration. Office of Innovative Program Delivery
• Abstract:
  Special assessments are a form of value capture. They involve assessing incremental property taxes on land and buildings deriving direct benefits as a result of a transportation improvement. The tax levied typically represents a portion of the estimated benefit to the properties located with a designated zone in close proximity to the improvement. Special assessments – also known as benefit assessments or special taxes – are one of the most prominent forms of value capture in the United States. Legally, special assessments are a form of remuneration that a public agency may require from property owners to provide revenue to fund a public project which creates benefits for properties within a designated assessment district. In addition to transportation improvements, special assessments may also be used in other sectors, including water and waste water.
• Format:
  PDF
• Collection(s):
  Federal Highway Administration
• Main Document Checksum:
  urn:sha-512:e70b3295c5a043752924fa9838cbe667b9158c1d5b3f42bbc61c8dee457c688964b23e0d5ce81c674ac25cdb1e4a003884989f21bb977fc60856f4fd4f83b4e7
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/55668/dot_55668_DS1.pdf
• File Type:
  [PDF - 310.89 KB ]