Value capture taxes have been used to finance transport infrastructure in cities as different as Hong Kong, Miami, Milan and Bogota. Manhattan is also considering a similar tax, on new construction, only to fund the Subway line 7 extension. A value capture tax can only be applied when the property value increase can be unambiguously attributed to infrastructure investment. Value capture taxes are less useful when property taxes are assessed on a yearly or regular basis, since the annual assessment captures any increases in the property value that might result from public infrastructure investment, this does however not take place in most OECD countries (Hammer, S., et al.,