Transit benefit assessment district
Revision as of 05:04, 18 January 2018 by Jordanfraade (talk | contribs) (Created page with "<br> {| cellspacing="0" align="center" cellpadding="0" style="width: 60%; background-color: White; border: 1px solid #8a8; text-align: center; -moz-border-radius:8px; " | styl...")
|
This page is a "stub" - it needs more content.
You are invited to add your knowledge. Please contribute! |
Transit Benefit Assessment Districts are a way of raising revenue for transit that involves a property-tax surcharge on parcels or businesses. SB 142 (2013) allows Transit Benefit Assessment Districts within one-half mile of an existing or proposed transit station. The tax assessment must be proportional to the benefit received by property within this zone, and approval requires a two-thirds affirmative vote of the transit agency's board and absence of protest by a majority of property owners within the zone. SB 142 was modeled after funding mechanisms used by the Santa Clara Valley Transportation Authority to extend BART to San Jose.