Great piece on Prop A:
Five Reasons to Vote FOR Proposition A by Brock Kyle, Austinite supporting transit
"With early voting starting this week, I wanted to (1) help cut through some of the intentional misinformation surrounding Proposition A and (2) help explain why I think Proposition A is an excellent plan — and an excellent value — based on not only the numbers but also my many years of using some of the best metro systems in the world:
Five Reasons to Vote for Proposition A
(1.) 4% Increase, Not 25% (Misinformation Campaign)
Misinformation about Proposition A is erroneously claiming that the proposition will result in a 25% increase in property taxes and this false information is being parroted by the popular press. This misinformation campaign is attempting to use a percentage of a percentage to be intentionally misleading, more commonly known in Texas as BS. The actual annual increase on a total property tax bill is only 4%.
(2.) Immediate 82% Return on Investment
Misinformation against Proposition A often conveniently fails to mention that if we fund 55% of this initial investment, it is anticipated that the Federal government will provide the remaining 45%. This Federal contribution effectively is an immediate 82% return on investment for our tax dollars. Failing to pass Proposition A would be the personal equivalent of foolishly not taking advantage of a matching contribution on a retirement account.
(3.) Train to the Airport & Critical Retail Nexus
Proposition A represents an excellent plan with functional, affordable routes and finally includes a train to the airport that even those who do not commonly use mass transit will be able to put to good use, saving time and money on airport parking alike.
For those who use the train as a commuter, the retail-lined underground tunnel proposal between Downtown Station and Republic Square is very smart. This plan is quite similar to the Namba Walk Mall in Osaka and the Zhongshan Metro Mall in Taipei and makes for a convenient and comfortable connection between lines as well as a useful shopping location before heading home.
For a small starter system, this downtown retail nexus is critical because it makes it convenient and comfortable to grab groceries or a meal on the way home in air conditioned comfort . Wellington, New Zealand and Glasgow, Scotland — which only have populations about 20% and 60% of the current official population of Austin, respectively — already have enough people to make a grocery store in downtown stations viable; Austin most definitely could with its current population.
As the system gets bigger, and transit-oriented suburbs become more feasible (like Denenchofu in Tokyo), retail at suburban stations becomes possible, as well; even more convenient for commuters. The orderly growth creates a virtuous cycle for commuters, small businesses, and property developers alike.
(4.) Now is the Time (Fund Now, Use After the Plague)
I understand that it may seem like during a struggling economy in the middle of a pandemic is not the time to be making big investments in the future, but paradoxically, it is the best time. Bad times always are the best time to make investments — everything is cheaper — and a transit project of this magnitude is estimated to take ten years to construct.
Even if a viable, long-term Covid-19 vaccine never comes — and it might not, there already has been one confirmed re-infection in Hong Kong within a five-month period — the Black Plague took seven years to burn through the known world. Sanitation has improved since 1353; Austin eventually will make it to the other side of the pandemic.
Hong Kong’s population was around 4.9 million people when it launched its metro in 1979. Austin is projected to have 4.5 million people by 2040. Work patterns will change, but a growing population still will need more options to get around the city. Austin never will be Hong Kong — nor should it be — but traffic becomes unbearable in a city of 4.5 million without a functional rail system.
(5.) Save Time & Money or Make a Million Dollars
It has been estimated that Austinites lose $1452 and 104 hours per year sitting in traffic (presumably assuming that you make $14/hour).
For those who prefer to commute by car — if an effective train system was able to eliminate this wasted time and money sitting in traffic — and said commuter has a home that is worth $1.5 million dollars, they still would come out ahead with the proposed 4% increase in property taxes. Odds are good that if you have a $1.5 million dollar home, you probably make well over $14/hour. For those with more modest homes or who make more money, the gains are even more substantial. Time is money.
Or, if you would prefer to pocket a million dollars , you always could consider using the train. According to AAA, the average annual operational cost of a new car is around $8500/year (this even ignores monthly principal if the car is financed). If you instead use the train and invest your savings in a Wilshire 5000 index fund — and assume a historical average annual return of 9.81% — it will grow to well over a million dollars in 35 years. Here is a calculator using much smaller operational cost numbers from 2011 (the numbers are even more in your favor now).
Vote Yes on Proposition A
Ultimately, Proposition A is not a question of “Is a 4% increase in property taxes too much to pay for an excellent rail system?” Proposition A is a question of whether or not a 4% increase in property taxes is worth gaining (1) an 82% immediate return on investment (Federal Match), (2) a convenient and comfortable commuter system that creates billions of dollars in value along rail lines, and (3) giving you the personal option of either saving time and money when commuting by car or using the train and pocketing a million dollars ; your choice.”
Cheers,
Brock
Brock Kyle
PO Box 8388
Austin, TX 78713