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By A Smith (anonymous) | Posted November 26, 2009 at 14:22:21
Sean >> Research indicates that LRT draws development into every city that implements it.
If that's the case, then let the developers pay for it? If they have the most to gain from seeing their property values appreciate, let them take the risk. If they aren't willing to do this, then it's obvious the LRT is not a such a great investment. If it was, why would they leave money on the table?
>> Hamilton is not different. We play by the same economic rules as everyone else,
One rule of economics is that if you want more of something, you tax it less. Therefore, if we want more demand for Hamilton properties, we need to tax them less. Currently, Hamilton taxes each dollar of residential properties at twice the rate of Toronto. If we want to change this, we need to keep reducing residential tax rates. There is no other solution.
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