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You're getting a massively connected area with larger amount of commerce further stoked by the people who take the train.

Not everyone is privileged enough to be able to afford to live close to their job. This is about raising quality of life across the board. People who have the "I've got mine, so fuck you" attitude are a blight on society.

Sounds like it should be funded by Sales Tax / Income tax vs Property Tax.

Property Tax should be about using the land & making improvements to nearby areas. Not about funding things far away.

The big one is an increase in the value of their land. And is this initiative purely about commuting? Maybe the new train will allow people to more easily socialise or receive healthcare or any other part of their non-work life.

Also, trains/buses are not usuualy free in the same way that some bridges have tolls.