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作者

Linda Shi;Andrew M. Varuzzo

来源

CITIES,Vol.100,Issue1,Article 102658

语言

英文

关键字

Fiscal stress;Land finance;Property taxes;Climate change;Sea level rise;Adaptation

作者单位

Department of City and Regional Planning, Cornell University, 213 West Sibley Hall, Ithaca, NY 14853, USA;Port Authority of New York and New Jersey, 4 World Trade Center, 150 Greenwich Street, New York, NY 10007, USA;Department of City and Regional Planning, Cornell University, 213 West Sibley Hall, Ithaca, NY 14853, USA;Port Authority of New York and New Jersey, 4 World Trade Center, 150 Greenwich Street, New York, NY 10007, USA

摘要

Recent disasters and growing concerns about climate change have spurred calls for cities to retreat from and avoid developing in coastal areas. Instead, cities have doubled down on waterfront development. We ask why and with what implications, using the U.S. state of Massachusetts as a case study. By overlaying data on sea level rise, land use, and property taxes, we find a few coastal cities may lose significant levels of municipal revenues to long-term sea level rise, while others face negligible impacts. Coastal municipalities are cognizant of their risks yet continue to site redevelopment projects in flood-vulnerable areas to meet present-day budgetary needs. Moreover, they resist efforts to align property values and insurance premiums with climate risks, as reforms only hasten lost taxes. Left unchanged, existing land use and fiscal policies incentivize municipalities to make short-term decisions with accelerating climate risks over time. This creates new dynamics of fiscal stress that can increase regional inequality and vulnerability to climate change. The study highlights the need for dialogue among researchers and policymakers in the U.S. and internationally on the nexus between land use planning, government administration, and climate change as these tensions likely exist wherever local governments rely on land-based finance.