Bulletin n. 0/2004 | ||
December 2004 | ||
Shoup Donald C. |
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The ideal source of local public revenue | ||
in Regional Science and Urban Economics , Volume 34, Issue 6 , 2004 , 753-784 | ||
Free or underpriced curb parking creates a classic commons problem. Studies have found that between 8% and 74% of cars in congested traffic were cruising in search of curb parking, and that the average time to find a curb space ranged between 3 and 14 min. Cities can eliminate the economic incentive to cruise by charging market-clearing prices for curb parking spaces. Market-priced curb parking can yield between 5% and 8% of the total land rent in a city, and in some neighborhoods can yield more revenue than the property tax. | ||