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Optimal investment in a tax increment financing district

Donaghy, Kieran P. / Elson, Andrea Kelly / Knaap, Gerrit J.

Abstract. In this paper we introduce a general model of property tax increment financed redevelopment. The model illustrates how expenditures on public infrastructure and housing induce private capital investment and growth in property values. It can be used to frame the problem of how best to manage a tax increment financing (or TIF) fund to realize redevelopment objectives. The solution to this problem suggests when the use of TIF is appropriate. We present estimates of the model‘s parameters for a TIF district in Urbana, Illinois, a solution to the fund management problem, and an evaluation of TIF‘s suitability in this case.

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Optimal investment in a tax increment financing district

Donaghy, Kieran P. / Elson, Andrea Kelly / Knaap, Gerrit J.

Abstract. In this paper we introduce a general model of property tax increment financed redevelopment. The model illustrates how expenditures on public infrastructure and housing induce private capital investment and growth in property values. It can be used to frame the problem of how best to manage a tax increment financing (or TIF) fund to realize redevelopment objectives. The solution to this problem suggests when the use of TIF is appropriate. We present estimates of the model‘s parameters for a TIF district in Urbana, Illinois, a solution to the fund management problem, and an evaluation of TIF‘s suitability in this case.

Optimal investment in a tax increment financing district

Donaghy, Kieran P. / Elson, Andrea Kelly / Knaap, Gerrit J.

Abstract. In this paper we introduce a general model of property tax increment financed redevelopment. The model illustrates how expenditures on public infrastructure and housing induce private capital investment and growth in property values. It can be used to frame the problem of how best to manage a tax increment financing (or TIF) fund to realize redevelopment objectives. The solution to this problem suggests when the use of TIF is appropriate. We present estimates of the model‘s parameters for a TIF district in Urbana, Illinois, a solution to the fund management problem, and an evaluation of TIF‘s suitability in this case.

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Title:

Optimal investment in a tax increment financing district

Contributors:

Donaghy, Kieran P. (author) / Elson, Andrea Kelly (author) / Knaap, Gerrit J. (author)

Published in:

The Annals of Regional Science ; 33

Publication date:

1999

ISSN:

DOI:

https://doi.org/10.1007/s001680050107

Type of media:

Article (Journal)

Type of material:

Print

Language:

English

Keywords:

Regionalökonomik , Kommunalpolitik , Umweltforschung , Regionalforschung , Regionalwissenschaft , Regionalentwicklung , Städtebau , Zeitschrift , Stadtentwicklung , Raumordnung , Umweltwissenschaften

Classification:

BKL: 74.72 Stadtplanung, kommunale Planung / 83.64 Regionalwirtschaft / 74.12 Stadtgeographie, Siedlungsgeographie
Local classification TIB: 770/3010

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