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20 May 2022 20:26
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  •   Home > News > Politics

    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


    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.

    © 2022 Newstalk ZB, NZCity

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     19 May: The Finance Minister's leaving the door open for extending a new cost of living payment
     19 May: The Finance Minister says his Budget strikes a balance... during tough times for many Kiwis
     19 May: Grant Robertson says he's been thinking long-term during his work on today's Budget
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