On Sat, 13 Aug 2005, Neil Williams wrote:

On Sat, 13 Aug 2005 11:44:24 +0100, Tom Anderson
wrote:

Ken was mumbling a while ago about using value capture to fund
Crossrail - as soon as it's built, house prices in places it serves
will go up, which will mean million of pounds going into the pockets of
homeowners for no reason other than that they happen to have a house in
the right place at the right time.

No, it won't, until they sell.

Or remortgage. Or put the rent up.

It seems fair that some of that money should go to the state, which
build the railway in the first place!

I trust that this will not take place until the house is sold.

Or the owner takes advantage of the increase in value in some other way.
Absolutely.

Unless one felt like making arguments along the lines of the theory that
land taxes are good because they encourage efficient use of land. Which,
right now, i don't.

tom

--
dream warrior, sun dancer