Want More Transit? Develop and Tax the Land Around Stations
To meet the demands of climate action, California must significantly shift trips away from private automobiles to less carbon-intensive modes of transportation, including public transit. Investment in public transit is hampered by high costs and lack of federal investment. Regressive consumption taxes instituted by local and state governments to fund public transit investment are approaching legal and political limits. An untapped source of revenue for public transit is land values. Recent studies have shown that private land value uplift associated with rail investment in Fremont, California...
Source: streetsblog.org