Real estate market is sluggish, urban development business is the challenges of business and cancellation unspecified. I was examined from various aspects for the activation of urban development business.
Local governments, and without incurring the b...
Real estate market is sluggish, urban development business is the challenges of business and cancellation unspecified. I was examined from various aspects for the activation of urban development business.
Local governments, and without incurring the burden of public facilities contribution because of the lack of funds of its own, therefore, private business enforcers will bear the cost of urban infrastructure, and thus, urban development for the late decline in profitability are. To try to apply a (TIF) tax secured financial capable to bear the cost of infrastructure to the financial resources and rise in real estate values etc. influx after development, the tax revenue increased in addition thereto.
In this paper, we analyzed the TIF effect to target the case area of one district Eunpyong New Town local government is a beneficiary of the tax revenue that has been increased by the development or can cover much infrastructure costs in TIF. Estimates the infrastructure installation costs of the cases actually region, how were further analyzed whether the change TIF funding, depending on whether or not to include the registration tax and acquisition tax as TIF funding. Moreover, we analyzed scenarios are divided into three cases tax secured area (TID).
In the case of the case of Eunpyeong New Town, infrastructure installation costs consuming about 355,568 one million won, 20 years TIF period, a 9.48% discount rate, 4.32%, the rate of increase in house prices, development if there is no development If you want to limit the TID when developing land that was set to 6.77%, total 107 billion won came out TIF procurement money If there is. In addition, the conclusion has the effect of fall 7,12% of the condominium price of case region If you are devoted to sale cost TIF, the amount can be raised, and to contribute to the stabilization of the real estate prices out.