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Capturing the value of an electric linear ferry service
Conference paper   Peer reviewed

Capturing the value of an electric linear ferry service

Steven Boyd
Proceedings of the 24th Pacific Rim Real Estate Society Conference
Pacific Rim Real Estate Society Conference: Property research for our changing world, 24th (Auckland, New Zealand, 21-Jan-2018–24-Jan-2018)
Pacific Rim Real Estate Society (P R R E S)
2018
url
http://prres2018.nz/wp-content/uploads/2018/01/PRRES-2018-Handbook_Online.pdfView
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Abstract

Business and Management value capture transport infrastructure electric linear ferry land tax
The Noosa River Glider is a public transport solution to enable a modal shift from car based transport between Noosa riverside business centres. By making riverside business centres more accessible there will be a measurable increase in visitation, trade and economic worth. Through innovative taxation strategies these increases may support the ongoing operation of an electric linear ferry service. The problem relates to how the value of the proposed ferry service is captured and applied to offset capital and operating expenses. A new system of taxation, or levy, may be acceptable to riverside traders, in expectation of increased in trade. The same cannot be said for the broader community, many of who may not see increases in visitation, trade and economic worth as positive outcomes for their region. This research commences with a review of value capture approaches to fund infrastructure projects in Australia. The investigation extends to consider the Land Value Tax technique and its applicability to the current taxation and rating schemes in the Noosa shire. Subsequent modelling demonstrates how land value increases are passively recaptured through existing Land Tax and rates mechanisms. The impact and recovery of infrastructure expenditure related to the NRG service is then evaluated with the aid of discounted cash flow analysis. Emerging findings support the Henry Tax Review assertion that well-structured taxes on land and natural resources are a highly efficient means of raising revenue.

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