REAL ESTATE VALUE CAPTURE IN NATAL: LAND APPRECIATION AND SPATIAL JUSTICE
real estate value capture; value appreciation; land rent; taxes; spatial justice.
Public investments in the city create urban features that add value to certain areas but not to
others. This is a plus value collectively generated in the long run, in the production of urban
space, not by specific individuals. Thus, it is only fair that individuals who benefit from this
process have to pay back and contribute towards investments to develop less favoured, and poorer
areas. This dissertation sought to identify the most valued areas in Natal, Brazil, using three
data sets related to taxation on land transactions, property and use (IPTU, ITIV and OODC). The
amount of taxes collected is seen in confrontation with structural developments and investments in
new public equipments and services in the city. The idea is to evaluate if the taxation system has
served to capture real estate values and also as a means of income redistribution and spatial
justice.