Capturing development value, principles and practice: why is it so difficult?
Prof Tony Crook
CBE BA MPhil PhD LittD FAcSS FRTPI FRSA
(The University of Sheffield, Urban Studies & Planning)
Prof Christine Whitehead
OBE BSc (Econ), PhD FAcSS, ARICS, HonRTPI, FSPR
(London School of Economics)
Land prices have risen significantly in England over the last two decades, generating debate about how far ‘unearned increments’, particularly those arising with planning permission, should be taxed for the public good. Capturing them, should be judged by how much is raised together with three welfare criteria: efficiency, equity, and taxation principles. The paper discusses the two main UK mechanisms: unhypothecated national taxation and negotiated local contributions for infrastructure and affordable housing, assessing how far they have met these criteria. The paper considers modifications to the current system to better achieve desired outcomes and the case for more fundamental reform.
Full Entry Title
A. D. H. (Tony) Crook and Christine Whitehead (2019) 'Capturing development value, principles and practice: why is it so difficult?' Town Planning Review, 90(4) pp 359-381 https://doi.org/10.3828/tpr.2019.25