chapter 10 land use controls and property taxes n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Chapter 10 Land Use Controls and Property Taxes PowerPoint Presentation
Download Presentation
Chapter 10 Land Use Controls and Property Taxes

Loading in 2 Seconds...

play fullscreen
1 / 17

Chapter 10 Land Use Controls and Property Taxes - PowerPoint PPT Presentation


  • 127 Views
  • Uploaded on

Chapter 10 Land Use Controls and Property Taxes. Major Topics. Origin, purpose and types of local land use controls Uses and process of determining property taxation Impact of property taxes on property values American Disabilities Act Political and economic perspectives of land use controls

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Chapter 10 Land Use Controls and Property Taxes' - moana-christian


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
chapter 10 land use controls and property taxes
Chapter 10Land Use Controls and Property Taxes

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

major topics
Major Topics
  • Origin, purpose and types of local land use controls
  • Uses and process of determining property taxation
  • Impact of property taxes on property values
  • American Disabilities Act
  • Political and economic perspectives of land use controls
  • Rationale and impact of subsidies to private developers
  • Newer environmental regulations
  • Federal government involvement in environmental regulation
  • CERCLA and the superfund
  • Environmental impact statement
  • Sustainable development and Green Design

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

introduction
Introduction

Role of Government in Influencing

Real Estate Markets

The inherent stewardship of public lands, to maintain and protect these lands for both current and future generations

The provision of infrastructure and public goods that benefit all local residents and visitors

The land use that affect, limit or influence private property owners or tenants

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

balancing land use controls vs market freedom
Balancing Land Use Controls vs. Market Freedom

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

authority and purposes of regulating real estate use
Authority and Purposes of Regulating Real Estate Use
  • Three primary rationales for government interference in real estate markets:
  • Markets are imperfect and market participants may be ignorant of facts that significantly affect their welfare
  • Every land use has the potential to generate externalities that may positively or negatively influence adjacent property values
  • Real Estate values may be enhanced with good land use planning

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

zoning
Zoning
  • Zoning is the regulation of permitted land uses, as well as minimum or maximum structures, upon geographically define contiguous districts.
  • Zoning limits potential land uses and often use a cumulative type hierarchy system
  • By grouping similar land uses together through zoning codes, there is less negative impact on other types of land uses that may be less noxious

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

building codes
Building Codes
  • Building codes are a series of standards and specifications designed to establish minimum safeguards in the erection and construction of buildings, and to protect those who live and work in them
  • Building codes describe in great detail the materials, methods, and techniques to be used in the construction of buildings

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

building codes historic structure rehabilitation and preservation
Building Codes: Historic Structure Rehabilitation and Preservation
  • In 1987, tax credits became available to encourage rehabilitation and preservation of historic real estate structures
  • A tax credit is more valuable than a deduction from income for the calculation of taxable income, since tax credits are dollar for dollar tax savings
  • A two tiered system is still in place today

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

building codes design review and aesthetic controls
Building Codes: Design Review and Aesthetic Controls
  • “Highway Beautification Act” under President Johnson
  • Consistent environmental quality - EQD

Building Codes: Design Review and Aesthetic Controls

  • ADA requires that facilities that are generally open to the public be accessible to all members of society

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

impact of property taxes on property value
Impact of Property Taxes on Property Value
  • Property Taxes exert a negative influence on property values because they increase the cost of ownership
  • Fiscal Redistribution: the mismatch of service receipt and cost support – city vs. suburbs

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

public assistance to private development
Public Assistance to Private Development
  • Local/ state governments can encourage or directly support private development through:
  • Property tax abatement for many years
  • Land buy downs
  • Industrial revenue financing
  • Tax increment financing (TIF)
  • Infrastructure improvements

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

state local level subsidies
State/ Local Level Subsidies
  • Use of abating local and state income taxes on the earnings of a new local employer in order to encourage a location move to an area in a given state and/ or county or city
  • Competition for large employers has been so strong in some urban areas, especially in areas that border two states, that governments end up in a bidding war of economic incentive packages

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

environmental land use regulation
Environmental Land Use Regulation
  • Environmental activism officially began at the Federal level in 1969 with the passage of the National Environmental Policy Act
  • Environmental Impact Statement: the first assessment of the impact of any proposed development
  • Clean Air Act
  • Federal Water Pollution Control Act
  • Endangered Species Act

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

cercla the superfund
CERCLA the Superfund
  • CERCLA: Comprehensive Environmental Response, Compensation, and Liability Act of 1980
  • Also referred to as the “Superfund”, it sets forth a complex regulatory scheme to identify, investigate, analyze and remediate property contaminated with hazardous waste
  • Who is liable: Current/ past owners, generators/ possessors and transporters of hazardous substances
  • CERCLA liability is strictly retroactive

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

cercla potential liabilities and site assessment managing real estate risks
CERCLA, Potential Liabilities and Site Assessment: Managing Real Estate Risks
  • Phase 1: To determine whether there is evidence of past or current environmental problems on the subject site
  • Phase 2: To test and verify the extent of the actual contamination
  • Phase 3: Actual action plan that usually includes remedial cleanup efforts

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

preserving wetlands
Preserving Wetlands
  • For many years, wetlands were thought to be useless mosquito infested swamps
  • Today we are learning that they are wondrous sources of life and diversity, with species that are crucial for a healthy environment
  • Wetlands help control floods, which are important ecological processes

Sustainable Development and Green Design

  • Green design involves a more environmentally oriented approach to building design, construction and maintenance
  • Sustainable development plans include a more holistic approach to the environmental impact of the entire development

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

slide17
END

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner