A better way to do this is tax increment financing. The taxes on nearby properties will go up regardless because the value of the properties will increase. They shouldn't be charged a higher rate, but a portion of the increase in tax revenue should be put back into supporting transit.<p><a href="http://en.wikipedia.org/wiki/Tax_increment_financing" rel="nofollow">http://en.wikipedia.org/wiki/Tax_increment_financing</a>