{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/19531"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/19531","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Economic analysis of a land value capture system used to finance road infrastructure: The case of Bogota, Colombia","abstract":"\"Bogota is a city that faces many problems, among them severe deficiencies in its road infrastructure. Financing of road infrastructure has been possible in part through a land value capture mechanism called \"\"valorization charges\"\". The purpose of this thesis is to analyze this financial tool from an economic perspective, using information from the 1992-1994 infrastructure plan of Bogota. A mathematical model is devised to approach this problem. Although valorization has not been specifically modeled in an urban economics setting, such a model derives from optimum taxation and optimum public good pricing theories. From the model two equations are obtained: the optimum valorization equation and the capitalization equation. Data on property values, income, characteristics of the properties, access measures, and valorization at individual property level, were collected in Bogota for two periods (before and after the infrastructure project). Based on the empirical study, it is found that: (1) Valorization charges depend on income and property values in the way predicted by the optimum model. (2) Valorization charges are not capitalized into property values. (3) Individual benefits estimated a-priori by the agency in charge of valorization are incorrectly predicted. (4) On average, the net increase in property values generated by the road infrastructure project 92-94 is of 46 percent beyond inflation effects.\"","abstract_html":""Bogota is a city that faces many problems, among them severe deficiencies in its road infrastructure. Financing of road infrastructure has been possible in part through a land value capture mechanism called ""valorization charges"". The purpose of this thesis is to analyze this financial tool from an economic perspective, using information from the 1992-1994 infrastructure plan of Bogota. A mathematical model is devised to approach this problem. Although valorization has not been specifically modeled in an urban economics setting, such a model derives from optimum taxation and optimum public good pricing theories. From the model two equations are obtained: the optimum valorization equation and the capitalization equation. Data on property values, income, characteristics of the properties, access measures, and valorization at individual property level, were collected in Bogota for two periods (before and after the infrastructure project). Based on the empirical study, it is found that: (1) Valorization charges depend on income and property values in the way predicted by the optimum model. (2) Valorization charges are not capitalized into property values. (3) Individual benefits estimated a-priori by the agency in charge of valorization are incorrectly predicted. (4) On average, the net increase in property values generated by the road infrastructure project 92-94 is of 46 percent beyond inflation effects."","abstract_has_math":false,"creators":["Ortiz, Alexandra"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Regional Planning","degree_department":null,"school":null,"contributors":["Knaap, Gerrit J."],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2011,"date_issued":"2011-05-07T12:10:24Z","date_published":"2011-05-07T12:10:24Z","updated_at":"2026-07-22T22:25:14Z","subjects":["Political Science, Public Administration","Urban and Regional Planning"],"languages":["eng"],"rights":["Copyright 1996 Ortiz, Alexandra"],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["9780591198461","AAI9712389","(UMI)AAI9712389"],"render_values":[{"text":"9780591198461","href":null,"code":true},{"text":"AAI9712389","href":null,"code":true},{"text":"(UMI)AAI9712389","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/19531","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Knaap, Gerrit J."]},{"key":"dc:creator","label":"Author","values":["Ortiz, Alexandra"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2011-05-07T12:10:24Z","10000-01-01","1996"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Regional Planning"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Political Science, Public Administration","Urban and Regional Planning"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]},{"key":"dc:rights","label":"Dc Rights","values":["Copyright 1996 Ortiz, Alexandra"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["9780591198461","AAI9712389","(UMI)AAI9712389","http://hdl.handle.net/2142/19531"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["\"Bogota is a city that faces many problems, among them severe deficiencies in its road infrastructure. Financing of road infrastructure has been possible in part through a land value capture mechanism called \"\"valorization charges\"\". The purpose of this thesis is to analyze this financial tool from an economic perspective, using information from the 1992-1994 infrastructure plan of Bogota. A mathematical model is devised to approach this problem. Although valorization has not been specifically modeled in an urban economics setting, such a model derives from optimum taxation and optimum public good pricing theories. From the model two equations are obtained: the optimum valorization equation and the capitalization equation. Data on property values, income, characteristics of the properties, access measures, and valorization at individual property level, were collected in Bogota for two periods (before and after the infrastructure project). Based on the empirical study, it is found that: (1) Valorization charges depend on income and property values in the way predicted by the optimum model. (2) Valorization charges are not capitalized into property values. (3) Individual benefits estimated a-priori by the agency in charge of valorization are incorrectly predicted. (4) On average, the net increase in property values generated by the road infrastructure project 92-94 is of 46 percent beyond inflation effects.\"","Made available in DSpace on 2011-05-07T12:10:24Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9712389.pdf: 4212542 bytes, checksum: 36a08c2f03bc643e3102cefab1f2b5a9 (MD5) Previous issue date: 1996","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:37:40Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:15:31-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission","U of I Only"]},{"key":"dc:title","label":"Title","values":["Economic analysis of a land value capture system used to finance road infrastructure: The case of Bogota, Colombia"]}]}],"canonical_facts":{"dc:contributor":["Knaap, Gerrit J."],"dc:creator":["Ortiz, Alexandra"],"dc:date":["2011-05-07T12:10:24Z","10000-01-01","1996"],"dc:description":["\"Bogota is a city that faces many problems, among them severe deficiencies in its road infrastructure. Financing of road infrastructure has been possible in part through a land value capture mechanism called \"\"valorization charges\"\". The purpose of this thesis is to analyze this financial tool from an economic perspective, using information from the 1992-1994 infrastructure plan of Bogota. A mathematical model is devised to approach this problem. Although valorization has not been specifically modeled in an urban economics setting, such a model derives from optimum taxation and optimum public good pricing theories. From the model two equations are obtained: the optimum valorization equation and the capitalization equation. Data on property values, income, characteristics of the properties, access measures, and valorization at individual property level, were collected in Bogota for two periods (before and after the infrastructure project). Based on the empirical study, it is found that: (1) Valorization charges depend on income and property values in the way predicted by the optimum model. (2) Valorization charges are not capitalized into property values. (3) Individual benefits estimated a-priori by the agency in charge of valorization are incorrectly predicted. (4) On average, the net increase in property values generated by the road infrastructure project 92-94 is of 46 percent beyond inflation effects.\"","Made available in DSpace on 2011-05-07T12:10:24Z (GMT). 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