1. Scope

Keywords

Rationale

Typically, a portion of land value, as economic rent, is not taxed, but instead is allowed to be distributed unearned to the party occupying the land. This limits revenue that could be used to offset taxes on residents’ wages and capital. By increasing the revenue a city uses through land value taxation, economic justice is served. Secondly, there is no standard procedure today that defines how a city can perform in a total circular way. ISO 59000-series standards get close when a person borrows performance measures from the ISO 59000-series standards on the Circular Economy concerning private (primarily manufacturing) firms. The part ISO misses is the process whereby: 1) Customers consume what a city provides while paying taxes of various sorts to keep assets in improved condition; 2) in so doing, consumers increase the value of land in the city, which, if land values are captured and returned to the agencies that provide urban services and those services stay in good condition; 3) land values continue to rise; and 4) thus creating a perfectly circular process. ISO 59000 lacks the necessary depth a city needs to assess its total circular performance. This standard provides a process by which measurements can be made to characterize a city’s economy by the circularity of the revenue used to keep the city a desirable place to live.