More light rail in Charlotte, N.C., means more money coming from taxpayers

Written by Bill Wilson, Editor-in-Chief
Progress Rail
The Charlotte Moves Task Force is recommending tax increases to support new light rail.
Progress Rail

The Charlotte Moves Task Force wants the Charlotte City Council to move on a recommendation for a sales tax and property tax increase to help pay for new light rail in the future.

The money generated will be used to fund the Transformational Mobility Network, which includes light-rail expansion from Charlotte to Ballantyne, Matthews, Belmont and the airport. The cost for the system could be as much as $12 billion, with about half coming from the local level.

The sales tax increase could be a half or full cent. A 0.5 percent increase would produce $110 million a year, while a 1 percent jump would generate $220 million annually. The increase in property tax will depend on which direction officials take on the sales tax increase. A four-cent increase would produce $57 million in additional funds a year.

The increases would be subject to a referendum in the fall of 2021, and also would need legislative approval.

Some officials believe it should be free to ride the light-rail system if the cost increases will cover the local portion of the funding.

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Categories: Commuter/Regional, Passenger, Rail News, Railroad News, Rapid Transit/Light Rail, Track Construction
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