ABSTRACT
The transportation department prepares a specific plan further detailing the scope and timing of projects to develop that public transportation system. The property owners benefits from the public transit systems. Broad-based revenue sources like the property tax revenues or the proceeds from general obligation bonds are often used to fund public infrastructure and services. The micro level indirect benefits can also be realized at the macro and meso levels. The macro level benefits include those to the economy, such as an increase in Gross Domestic Product (GDP). At the meso level the economy benefits from agglomeration effects, increased labor participation and productivity, and increased connectivity between various sub-sectors of the economy provided by transportation and telecommunication infrastructure. The empirical literature clearly demonstrates several public infrastructure and services could provide significant economic benefits to property owners. The value increase is dependent on the property-type. Studies indicate that commercial properties benefits more compared to residential properties.
