Date of Award

5-2018

Document Type

Thesis

Degree Name

Master of City and Regional Planning (MCRP)

Department

Planning, Development, and Preservation

Committee Member

Dr. Timothy Green, Committee Chair

Committee Member

Dr. Eric Morris

Committee Member

Dr. James Spencer

Abstract

This thesis examines the effect of a tax increment financing (TIF) district on property values. TIF districts and their associated tools for financing capital investment have been a popular place-based development policy for many years, but there is no scientific consensus on their impact. One reason for this is the difficulty of identifying valid counterfactuals (control cases) for parcels within TIF districts given the heterogeneity of parcels in urban areas. The data set used in the research was created by compiling annual parcel boundary and value data from 1995 to 2016 in Berkeley County, South Carolina in GIS and combining it with local zoning data and demographic data from the U.S. Census Bureau. The research used propensity scores to match comparable non-TIF parcels to TIF parcels, and then a difference-in-difference model to estimate the effect of a TIF. The results of the analysis suggest that the TIF had a positive impact on the property value even when controlling for parcel heterogeneity and local market conditions.

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