Singapore promised revenue neutrality by reducing vehicle taxes, while the Dutch proposed to replace vehicle ownership-based charges with usage-based charges (ITF, 2010). An increasing number of municipalities have replaced taxes on the value of buildings with taxes on the value of land sites, resulting in a decoupling of land value from the value of real estate improvements (Cohen and Coughlin, 2005). With the most famous example in Pittsburgh (Pennsylvania) (Oates and Schwab, 1997), nowadays more than 700 cities worldwide use a “two-rate" taxation system, whereby the majority of property values is represented by land, whose value is often increased as a result of public investments in the surrounding area (e.g. attractive neighbourhoods and services).