RUMOR: “Property near the train will lose almost its entire value, forcing taxing jurisdictions to raise rates on everyone across the county to make up for millions (or even billions!) in lost revenue.”
Quite simply, as a private entity, the Texas Bullet Train will be a tax-payer…not a tax-taker.
Connecting people, ideas and commerce in a productive and reliable way will drive economic growth. Real-world evidence is provided by the millions of people who choose to live, work, and raise families, all within close proximity to these trains. This does not even include the corporate headquarters, restaurants, and hotels that are built and operated in transit oriented developments.
In fact, the tax benefits will be dramatic, especially in rural counties. The railway will pay taxes on its tracks, maintenance facilities, substations and passenger terminals. In many areas, the system will become one of the top taxpayers in the region, with literally millions of dollars flowing annually—all benefiting local cities, counties, hospital districts, independent school districts (ISDs) and other taxing entities.
Expected Tax Revenue Impact
BUSTING MYTHS AT HIGH SPEED!
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