TY - JOUR
T1 - A value capture property tax for financing beach nourishment projects
T2 - An application to Delaware's ocean beaches
AU - Parsons, George R.
AU - Noailly, Joëlle
PY - 2004/5/28
Y1 - 2004/5/28
N2 - We propose and apply a value capture property tax for financing beach nourishment projects. Our application is to beaches in the state of Delaware. Using a hedonic price function we estimate the implicit value of proximity to the beach. Using these results we then infer a property tax schedule that taxes homeowners roughly in proportion to the benefits they receive from the projects. We argue that the tax is equitable in the sense that tax burden and project benefits are aligned. We argue that it is efficient in the sense that homeowners face the real cost of maintaining beaches that protect and improve their property.
AB - We propose and apply a value capture property tax for financing beach nourishment projects. Our application is to beaches in the state of Delaware. Using a hedonic price function we estimate the implicit value of proximity to the beach. Using these results we then infer a property tax schedule that taxes homeowners roughly in proportion to the benefits they receive from the projects. We argue that the tax is equitable in the sense that tax burden and project benefits are aligned. We argue that it is efficient in the sense that homeowners face the real cost of maintaining beaches that protect and improve their property.
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U2 - 10.1016/j.ocecoaman.2004.03.003
DO - 10.1016/j.ocecoaman.2004.03.003
M3 - Article
AN - SCOPUS:2442474128
VL - 47
SP - 49
EP - 61
JO - Ocean and Coastal Management
JF - Ocean and Coastal Management
SN - 0964-5691
IS - 1-2
ER -