Description
Title: An analysis of the urban land leasing system in Bahir Dar, Ethiopia, as a strategic value capture tool to increase urban revenue
Abstract: The Ethiopian government has been monetizing the increase in land value brought about by factors other than private investment since 1993 by using the urban land leasing system. In order to increase its local revenue, Bahir Dar city may or may not be using the urban land lease system as a strategic value capture instrument, which is the focus of this paper. In-depth analysis and the qualitative research methodology were both used in this study. The information needed to achieve the goal of this study was gathered using a desk review of documents and key informant interviews with experts and brokers. According to the study, most urban land is held under a permit system, with landowners paying a minimal amount of land rent annually. In addition, the study has revealed that the city has allotted administratively most of its land at low and out-of-date benchmark prices, which has reduced lease income. Additionally, it has been determined that the city’s ability to generate urban revenue has been negatively impacted by the weak enforcement of the lease payment collection. Because of this, the city is not making use of the public land leasing system as a tool for strategic value capture. The government should implement a contemporary property tax system to capture value growth on permit holding land, this paper has advised based on its findings. The study also suggests conducting an empirical investigation to determine the variables that have a significant impact on benchmark prices and regularly updating the benchmark price in light of those variables. Additionally, the study has recommended that the city’s collection of lease payments be properly enforced.
Keywords: urban land lease; value capture; lease benchmark price; urban revenue; land lease tender price; land lease payment
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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