LETTER: Light rail boosts values, who pays?

Light rail on the Gold Coast.
Light rail on the Gold Coast. DAVE HUNT-AAP

AN interesting piece in The Conversation about how Gold Coast Light Rail has escalated land values around LRT stations.

University of Queensland Economist Dr. Cameron Murray estimates that the Gold Coast Light Rail raised land values by around $300 million, or a whopping 25% of the cost to construct the Gold Coast Light Rail system.

This is a very significant amount of money. Once a property is sold, these windfall gains are set to land in the private bank accounts of landholders along the Light Rail route. As the Light Rail was paid for using tax money, these value increases are really coming courtesy of the taxpayer. The Gold Coast City Council's budget will also be boosted. Council rates are based on land values, so when land values go up, so does the rates revenue. We think local government should contribute to public transport infrastructure and operations based on this simple fact alone. Dr. Murray's article notes the many Queensland Government exemptions that sees revenue slip through the Queensland Government's fingers.

The Queensland Government needs to reform its land value taxation regime.

Taxing land makes buying a property more affordable, not more expensive.

The phased removal of stamp duties and the introduction of a land tax to residential properties within the ACT has reduced mortgage payments by around $2200 per year.

How can the Queensland Government credibly claim that it has no money for essential state-building projects such as Cross River Rail or the Sunshine Coast Line upgrade, while at the same time, it lets hundreds of millions of dollars in untaxed land wealth walk out of the proverbial back door?


Rail Back on Track

Topics:  cross river rail land tax stamp duties

Why Choat believes One Nation will win Ipswich West

CONTENDER: One Nation candidate for Ipswich West Brad Trussell is tipped by former LNP MP Sean Choat to prevail in Ipswich West.

Former LNP MP says Miller is 'a formidable politician' in Bundamba

BOUNDARY CHANGES: Will your MP change?

Final candidates have been announced for Nanango and Callide.

Ipswich, Ipswich West, Bundamba, Lockyer and Jordan

Is seat of Bundamba the ALP's safest in Queensland?

ON TRACK: Member for Bundamba Jo-Ann Miller MP at her Goodna office.

Miller looks on track for another big win after draft redistribution

Local Partners

Un-American tale makes Lion weakest link in Oscars line-up

PSYCHOLOGY researchers find US films and actors most likely to win accolades at the Oscars.

Living End, Grinspoon stars hit stage for American Idiot

Chris Cheney of The Living End stars in the Australian production of Green Days musical American Idiot at Brisbane's QPAC Theatre.

TAKE a look behind the scenes of Green Day's American Idiot musical

Samuel L Jackson dismisses La La Land ahead of Oscars

Ryan Gosling and Emma Stone in a scene from the movie La La Land.

Hollywood actor and Oscars voter says Denzel should win top gong

Live performance of Sci-fi classic to open Science Festival

Qld Symphony Orchestra perform live to 2001: A Space Odyssey.

Festival will host A Live Presentation of 2001: A Space Odyssey.

Former Family Matters stare accused of child abuse

Reginald VelJohnson, left, and Darius McCrary arrive at the TV Land Awards on Sunday, April 19, 2009 in Universal City, Calif.

Darius McCrary has been accused of child abuse

Bindi Irwin's birthday tribute to her dad

Bindi Irwin

Bindi Irwin has paid tribute to her dad on his 55th birthday

The trick homeowners are using to buy more properties

Chantelle Subritzky leaves her home each week for Airbnb guests.

Queenslanders are going down this path to help pay their mortgages

Stunning home blends South Pacific beauty with Orient style

Immaculate residence with two outdoor living areas

WARNING: 'Sardine city' is on Ipswich's horizon

CONCERNED: The implications of the State's move to denser housing developments has Cr David Pahlke up in arms.

But Antoniolli says council can manage State's denser housing edict

Grand re-launch for new Nolan's Corner

GRAND PARTY: Wayne Kemp and Angela Love from Poison Arrow, Eliza Woodruffe from Limestone Emporium, Tess Claris from Voice Hair and Beauty and Kim Schubel from Schudio will all be at the grand launch party.

A feat worth celebrating

$140k damage: landlord says property trashed, contaminated

He had what he calls "the tenants from hell"

Ready to SELL your property?

Post Your Ad Here!