Will the town lose property tax revenue from using the abandoned rail-bed as an open space rail trail rather than as developed land?
No, primarily because most of the land is not developable for business or residential use. Many communities have discovered that open space conservation such as for rail trails is a one-time investment that boosts property values and provides other permanent benefits long after the land is paid for. A small increase in the value of many properties will be worth far more to the town than the amount of extra development that could take place along a narrow corridor. The issue of property tax revenue will be better understood once the Town has an appraisal and negotiates with CSX over purchase price and terms.
Related Questions
- Will the town lose property tax revenue from using the abandoned rail-bed as an open space rail-trail rather than as developed land?
- Will the town lose property tax revenue from using the abandoned rail-bed as an open space rail trail rather than as developed land?
- Will the Town of Sudburys wetlands bylaw apply to the rail trail?
