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210Land Value Capture

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  • Wetzel Dave
    Feb 25, 2004
      One of the biggest difficulties we face when trying to improve public
      transport is finance.

      A London property developer, Don Riley, in his book "Taken for a Ride", has
      estimated that the Jubilee Underground Line extension in South and East
      London has raised land values by £13 billion within 1 km radius around the
      ten new stations on the line.

      The line only cost £3.5bn to build.

      If this value were collected by means of a Location Benefit Levy then there
      would have been enough income to pay for three new lines without any
      resource to taxes on trade or higher fares.

      Happy to send more information personally to anyone requesting it.


      Dave Wetzel
      Transport for London
      42-50 Victoria Street. London.
      SW1H 0TL. UK

      Tel: 020 7941 4200

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