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Research on the Theory of Value Capture in Urban Planning
Pages: 91-97
Year: Issue:  3
Journal: Urban Planning International

Keyword:  Urban Land Increment ValueValue CaptureDistribution Justice;
Abstract: Urban planning can greatly influence the value of urban land. The distribution of these interests is crucial for realizing social equality and economic efficiency. Theory of value capture in urban planning discussed the justice principle of distribution land value change resulting from urban planning. The paper firstly defines the concept of value capture in planning by pointing out its similarities and differences with value capture research in research scope and content. Then the paper applies the distribution justice principle in utilitarianism, social justice theory and egalitarianism to value capture in urban planning and compared their limitations and feasibility. Then, the paper proposes the principle of fairness and the principle of efficiency for value capture in urban planning, based mainly on the egalitarianism justice theory. The fairness principle requires the one who gains to pay and who loses to be compensated. Under this principle, the one who holds the land should share the increment land value with the society. Meanwhile, according to the efficiency principles, the bearing of inequalities for efficiency is only acceptable in case they can help to maximize the interests of the disadvantaged ones, which means maximize the sum of the amount of direct shared land value and indirect benefits resulting from improving the land use for the public.
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