Will the town lose property tax revenue from using the abandoned rail-bed as an open space rail trail rather than as developed land?

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Will the town lose property tax revenue from using the abandoned rail-bed as an open space rail trail rather than as developed land?

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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.

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