What does this indicator mean?
State or local tax revenues on real estate.
How is this indicator useful for creating and measuring activity-friendly places?
- To determine how much additional fiscal value has been created following activity-friendly community investments, such as walk, bike, and transit infrastructure.
- To identify areas with quickly rising property values to inform policies and protections for financially vulnerable residents.
What would help the most people benefit from this indicator?
- Educate property developers and owners with examples showing that pedestrian-, bicycle-, and transit-friendly designs do not diminish property values or community character, and in most cases add attributes that are highly valued by home buyers and potential employees.
- Reinvest increased public revenue in goods and services that respond to community needs (e.g., quality public spaces, discounted transit cards).
- Provide incentives to developers in exchange for community benefits.
- Earmark a portion of anticipated tax revenue increases to mitigate displacement.
- Offer tenant protections from condo conversions if property values increase.
- Zone for a wider range of housing options that are specific to the needs and context of a community.