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Well, since the property owners are taxed according to the assessed value of their homes and businesses, their windfall will be factored into their assessment, so that they will pay proportionately more into Denver's (and the other municipalities'/counties') general revenues.

Given the population density structure of the Metro Denver region, a sales tax is actually more progressive here, as even those who can afford to drive and/or effectively live beyond the range of transit routes are forced to contribute to this infrastructure.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Wed Jan 7th, 2009 at 10:52:06 AM EST
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When London's Jubilee Line was built at a cost of about £2bn of Londoners' and general taxpayers' money, a study found that residential and commercial property values along the extension rose by an estimated £17bn.

That omits any indirect benefit accruing to the businesses along the route from having better employee access and time-keeping etc.

I doubt whether the increased assessments remotely approach a reasonable share in the windfall gains made by landowners at everyone else's expense.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed Jan 7th, 2009 at 11:39:27 AM EST
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