Great example of how land taxes can be used to fund new infrastructure, from Karl Fitzgerald, Projects Coordinator for Earthsharing Australia:
After decades of tax reviews, Treasury is finally modelling the effect of Land Taxes on the macroeconomy…..
Former New York Mayor Bloomberg grasped the economic potentials by reaching out from his local government role to finance the extension of the state run No.7 train line to the Hudson Yards. The added amenity of the train extension was projected to deliver $30 billion in additional property taxes over the next 30 years. Infrastructure bonds were sold to the market with repayment via the increase in land values. This is world best practice at least cost…..