Effects of Financing the Cost of Metropolitan Transportation Facility using TIF

LHI journal of land, housing, and urban affairs Pub Date : 2015-10-30 DOI:10.5804/LHIJ.2015.6.4.185

Young-Il Song, Dae-Sik Choi

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Abstract

ABSTRACT Since the introduction of New Towns in Seoul MSA, land price has steadilly been risen due to the financial burden of constructing metropolitan transportation facilities. Despite metropolitan transportation facilities are utilized by New Towns as well as its surrounding area, the current situation is that most of the burdens, which is supposed to be shared with local governments, fall to developers. This study, with the case of Dongtan New Town, is to deduce rational structure of cost-sharing by the analysis of travel demands of metropolitan transportation facilities. Also, for the financing of the cost, the application methods of TIF(Tax Incremental Financing) have been suggested. The results showed that the proportion of travel which origins from New Town was 35.1%, which results in 800 billion won for the share of local government. For financing this amount of the cost, at least 20 years of financial period and the rate of 2% increase of real estate are needed in operating the TIF.Key words : TIF, Metropolitan Transportation Enhancement, Metropolitan Transportation Facility, Local TaxLHI Journal (2015) 6(4):185-193 http://dx.doi.org/10.5804/LHIJ.2015.6.4.185http://lhi.lh.or.kr

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TIF对城市交通设施成本融资的影响

摘要:自首尔新城市引进以来，由于建设大都市交通设施的财政负担，地价持续上涨。虽然新城市和周边地区都在利用大都市交通设施，但目前的情况是，应该由地方政府分担的负担大部分落在了开发商身上。本研究以东滩新城为例，通过对城市交通设施出行需求的分析，推导出合理的成本分担结构。对于成本的融资，提出了税收增量融资(TIF)的应用方法。调查结果显示，从新城市出发的旅游比重为35.1%，地方自治团体的负担额为8000亿韩元。为了筹措这笔费用，TIF的运营需要至少20年的财政期和2%的房地产增长率。关键词:TIF，城市交通优化，城市交通设施，地方税收[j] .城市交通学报，2015,6(4):185-193 http://dx.doi.org/10.5804/LHIJ.2015.6.4.185http://lhi.lh.or.kr

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LHI journal of land, housing, and urban affairs

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