MTA Subject To Tax On TOD Property

"Todd Mason, Metro vice president of real estate services, responded that the project's benefits in increased transit ridership and eventual tax revenue would outweigh costs in taxes or lost interest stemming from the purchase. And if the project falls through, he said, Metro will probably be able to sell the land at a profit."

"Like other governmental bodies, Metro doesn't pay taxes on property it uses for public purposes."

"But land held for private use is taxable, even if Metro owns it temporarily, said County Tax Assessor-Collector Paul Bettencourt and County Appraisal District Chief Appraiser Jim Robinson."

"'The law is very specific that a political subdivision has to hold property for a public purpose (to qualify for the exemption), and I'm not convinced that what they want to do is a public purpose,' Robinson said."