Crossrail 2 may ask nearby home owners to stump up millions for project

Home owners living within a certain radius of Crossrail 2 stations could be
forced to stump up millions to pay for the project.

Transport for London is considering introducing a levy to fund the £30
billion scheme, which will run from Broxbourne in Hertfordshire to Epsom in
Surrey, through central London.

It would create three zones stretching a kilometre around each station.
Each zone, mapped out in concentric circles, would have a scaled charge,
known as the Transport Property Charge, descending with the distance from
the station, according to Estates Gazette.

William Jackson, development consultant for Crossrail 2, said: “Somebody’s
got to pay for this and the people in those zones are going to make an
increase in value on their house. If you benefit from it somehow you should
pay for it.�

TfL is already under financial pressure following the development of
Crossrail, which threatens to go over budget and miss its December 2018
opening date.

… continues (£) in

https://www.telegraph.co.uk/news/2018/05/11/crossrail-2-may-ask-nearby-home-owners-stump-millions-project/

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"Recliner" wrote in message
...
Crossrail 2 may ask nearby home owners to stump up millions for project

Home owners living within a certain radius of Crossrail 2 stations could
be
forced to stump up millions to pay for the project.

I bet when they say homeowners, they mean residents

tim

tim... wrote:


"Recliner" wrote in message
...
Crossrail 2 may ask nearby home owners to stump up millions for project

Home owners living within a certain radius of Crossrail 2 stations could
be
forced to stump up millions to pay for the project.

I bet when they say homeowners, they mean residents

Yes, or whoever pays the Council Tax, which is how the levy will be
collected. That's why I simply said 'neighbours' in my subject line.

On 11/05/2018 09:05, tim... wrote:


"Recliner" wrote in message
...

Crossrail 2 may ask nearby home owners to stump up millions for project

Home owners living within a certain radius of Crossrail 2 stations
could be
forced to stump up millions to pay for the project.

I bet when they say homeowners, they mean residents


The report includes "The money would be collected over ten years as part
of council taxes." There's no other practicable option. But given the
number of rented properties around Dalston they might do well to pick
another station when running the argument that it's only fair given the
increase in value of the properties. The more so when landlords will
tend to put up rents in order to maintain their rate of return on
capital, and to reflect the market rates withy better communication. In
short, a double whammy for occupiers.


--
Robin
reply-to address is (intended to be) valid

"Robin" wrote in message
...
On 11/05/2018 09:05, tim... wrote:


"Recliner" wrote in message
...
Crossrail 2 may ask nearby home owners to stump up millions for project

Home owners living within a certain radius of Crossrail 2 stations could
be
forced to stump up millions to pay for the project.

I bet when they say homeowners, they mean residents


The report includes "The money would be collected over ten years as part
of council taxes." There's no other practicable option. But given the
number of rented properties around Dalston they might do well to pick
another station when running the argument that it's only fair given the
increase in value of the properties.

but it not though

tenants don't benefit from the increase in value of the property

the LL does

tim

In article ,
tim... wrote:
tenants don't benefit from the increase in value of the property

No, but they presumably benefit from better access to transport.

--
Regards,
John Levine, , Primary Perpetrator of "The Internet for Dummies",
Please consider the environment before reading this e-mail. https://jl.ly

"John Levine" wrote in message
news
In article ,
tim... wrote:
tenants don't benefit from the increase in value of the property

No, but they presumably benefit from better access to transport.

probably not from any stations south of Wimbledon

aren't they just going to keep the service frequency that they have now

tim... wrote:


"John Levine" wrote in message
news
In article ,
tim... wrote:
tenants don't benefit from the increase in value of the property

No, but they presumably benefit from better access to transport.

probably not from any stations south of Wimbledon

aren't they just going to keep the service frequency that they have now

It's not clear from the report whether this funding charge would extend to
distant stations whose existing services would simply be diverted through
the tunnel. Arguably, they would still get some benefit, but much less
than people who get a new station with a new high frequency service.

Also, it would be possible to increase services on the peripheral branches,
should there be the demand, as more services could pass through the tunnel
than can terminate and reverse at Waterloo. For example, Crossrail will be
providing 6 tph to Heathrow compared to the 2 tph HCon service it replaces.

On 2018-05-11 07:04:54 +0000, Recliner said:

Crossrail 2 may ask nearby home owners to stump up millions for project

Home owners living within a certain radius of Crossrail 2 stations could be
forced to stump up millions to pay for the project.

Well as someone with a house near Dalston Junction how about fhey repay
us fo the years we've lived in a tip of a district previously.