RECLAIMING URBAN LAND VALUES IN NATAL: A STUDY ABOUT LAND VALUATION BEFORE AND AFTER INVESTMENTS FOR THE 2014 WORLD CUP
real estate value capture; value appreciation; land rent; taxes.
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 as a means of income redistribution.