大眾捷運系統對租稅增額貢獻之研究

Abstract

大眾捷運系統對捷運車站周邊發展具有相當之助益，吸引人口與產業聚集，進而增加地方相關稅收，而租稅增額融資(Tax Increment Financing, TIF)即是依外部效益內部化精神，將該因捷運系統所創造的租稅增額，回收為自償性經費，以協助挹注建設經費。國內中央政府鑑於財政緊縮，而期望以 TIF 紓緩中央補助壓力，進而要求地方政府所提出的捷運建設計畫應予納入，並設置自償率門檻，以評估計畫自償能力，藉以作為排定計畫優先次序及補助比例的依據。然而，卻可能導致地方美化財務效益，甚而形成道德危機問題。就目前捷運建設對未來租稅增額的推估而言，究竟應予以內部化的比例為何，缺乏相關文獻與研究佐證，以致地方政府無所依據。爰此，本研究目的在於分離捷運建設計畫核定後促成周邊房地價增值的貢獻，以為租稅增額分配比例訂定之依據。因此，本文以台北捷運中和-萬大-樹林線、新莊線與信義線為例，以各車站周邊500公尺範圍內之實際交易總價為因變數，進行特徵價格迴歸分析，藉以釐清計畫核定後對房價之影響貢獻，並作為租稅增額貢獻之參考。實證結果顯示萬大線計畫核定後第一年至第三年對租稅增額之貢獻分別為22.05%、29.30%及35.33%；新莊線與信義線通車當年貢獻為31.62%及32.32%，而新莊線第一年至第三年之貢獻則分別為23.83%、18.64%、25.87%，顯見公共建設對租稅增額具某種程度之貢獻，而非完全可歸因於該項公共建設，是故地方政府宜透過此方法計算貢獻比例，予以提撥挹注建設經費，方符外部效益內部化之原則。

MRT stations attract people and business. Thus, the land value around MRT stations has remarkably increased since the operation of the Taipei MRT system, which enables the local government to levy more land-related taxes on the land value around MRT stations than elsewhere. Therefore, the central government has recently developed the Tax Increment Financing System to capture the appreciation of land value and to increase the source of taxation so as to cover part of the construction expenses and to improve the Self-Liquidation Ratio. Under current system, the local government may overestimate the tax base growth to enhance the self-liquidation ratio so as to reach the subsidy standard. However, if future tax revenues could not meet with the estimation which makes governments face budget shortfalls, it will become liabilities to future generation. Then, there is accompanied by “moral hazard,” an incentive for the misallocation of resources because the local government borrows from the future without promising money back. Thus, building metro public transit system has produced benefit distribution issues. The benefit of land value increment is not solo contributed by MRT. Therefore, how to estimate the proportion of contribution to land value increment by MRT, other economic factors, and market demand is a critical issue associated with who should bear and how much should bear the cost of building metro public transit system. Finally, we found when WandA MRT plan was approved until the third year, the contribution percentage of MRT to real estate prices is 22.05%, 29.30% and 35.33% respectively; when Shinjuang and Shinyi MRT plan began to operate, the contribution percentage of MRT to real estate prices is 31.62% and 32.32%, then the first year to the third year is 23.83%, 18.64% and 25.87% after initial operation of Shinjuang MRT plan. So we suggest that the authorities should calculate the contribution percentage through this approach that may be in accordance with external benefit internalized exactly.