Interesting. Here in Portland (Oregon), we actually have the reverse policy:  property tax exemptions for housing units within some arbitrary distance of a light-rail line.  [Link: <a href="http://www.pdc.us/housing_services/programs/financial/transit_oriented_development_guidelines.asp" rel="nofollow">http://www.pdc.us/housing_services/programs/financial/transi...</a> ]<p>Of course, that policy is probably aimed at encouraging higher density, not at improving our transit agency's bottom line... but it does also create a natural customer base for the light rail system.