Properties around Auckland's light rail line are likely to face a value capture tax
Properties around Auckland's light rail line are likely to face a value capture tax
28 January 2022
The light rail plan, unveiled this morning, is set to be one of the biggest transport projects New Zealand has seen in decades.
It'll be tunnelled from Wynyard Quarter to Mt Roskill, and then be above ground from there to the airport.
It's got a 14 billion dollar price tag -- and early works are expected to start next year.
Transport Minister Michael Wood says about two to three billion dollars could be gathered from a value capture scheme.
He says a lot of people will make financial gain out of this project, and it's fair if some of that comes in to supplement taxpayer funding.
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