조세담보금융을 통한 사회간접자본 재원조달방안의 연구

Regarding recent debate on the policy relevance of massive social overhead capital (SOC) investments, this study investigates whether the tax increment financing (TIF) can be considered as an alternative policy tool based on its implementation cases in foreign countries. TIF is the type of public investment where a local government pays subsidies for SOC investments backed on expected increase in property tax revenues. Development charges and regional traffic fees are a kind of special assessment levies and infrastructure impact fees, respectively, out of various types of the value capture. Development charges should adopt the “burden ceiling”clause, provide financial support to low incomers in the development area, acquire enough chargable land in the vicinity of the development area, and clarify computation procedures. Regional traffic fees should also provide financial support to low incomers in affected area lest the burden of developers should be shifted to them. TIF itself is hard to implement at present in Korea for practical reasons, however it can be seriously considered in future discussion on how to fund for public investments. While it may violate conservative fiscal management principles, TIF is expected to be employed as a novel public investment method based on sufficient social benefit from SOC constructions, in case juridical complementation and rational subsidy level are embodied.