The Route of the Planned Algonquin Road Extension and an Idea of How to Finance It

If you didn’t get to the open house held by the McHenry County Department of Transportation Thursday night, here’s the main exhibit–the route from Route 47 to Harmony Road:

Click to enlarge this map of where Algonquin Road will be extended across southern McHenry County.


The first American economist of note was Henry George.

He advocated site value taxation. That basically means that only land should be taxed. Not taxing improvements, that is, buildings, would encourage people to maximize the value of property they owned by building as much on them as possible.

If this road could be financed by taxing the increase of the value of the land that will benefit from it, the road might be capable of being built fairly soon.

Now that I think of it, that sounds like a TIF (Tax Increment Financing) district, except developers, that is owners of adjacent property, would not be directly subsidized; the county would just be using a similar mechanism to finance the road that would benefit them the most.


Comments

The Route of the Planned Algonquin Road Extension and an Idea of How to Finance It — 1 Comment

  1. Site Value Taxation as a method to finance the Algonguin Road Exentions from IL Rte 47 to Brier Hill Rd is Cal Skinner’s idea or MCDOT’s idea?

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