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Land Value Capture

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  • Wetzel Dave
    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
    Message 1 of 2 , Feb 25, 2004
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      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

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

      Tel: 020 7941 4200



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