Sound Transit 2
What is ST?

Sound Transit 2 includes accountability measures to protect the public's investment and to roll back taxes after construction is complete.



Binding tax rollback

After the Sound Transit 2 and Sound Move Plans are completed, taxes will be reduced to a level necessary to operate and maintain the system and pay associated debt service. The Sound Transit 2 Finance Plan estimates that by 2038, the tax increase approved by the voters in 2008 will not be needed and will no longer be collected.

Independent oversight

An independent Expert Review Panel (ERP) appointed by the state regularly reviewed the development of the Sound Transit 2 Plan as required by state law. The ERP affirmed that the technical details and assumptions used to develop the plan are reasonable and appropriate. The ERP reviewed methodologies for estimating costs, ridership projections, financial assumptions, and social, economic and environmental impacts. With voter approval of Sound Transit 2, the volunteer Citizen Oversight Panel will continue to conduct twice-yearly public review of agency projects and progress.

Performance audits

The Sound Transit 2 Plan includes a requirement to implement a performance audit program. This will build on Sound Transit's history of independent financial and performance audits through the years that demonstrate transparency and public accountability.

Taxes stay local

Sound Transit 2 will invest local taxes to benefit the area where they are collected. Taxpayers in each of Sound Transit's five geographic subareas pay for projects and services that benefit the people who live in that subarea.

Cost effectiveness

  • Benefit-cost analysis: A benefit-cost analysis prepared for the light rail element of the Sound Transit 2 Plan shows that within 10 years of completion, quantifiable public benefits will exceed the costs of construction. After 10 years, time and energy savings will continue to accumulate for decades more, exceeding costs by a ratio of 2.7 to 1, and generating an economic rate of return of 8.9 percent.
  • Farebox recovery: By 2030, the Sound Transit 2 Plan forecasts that 28 percent of system operating costs will be recouped by fares. The farebox recovery rate for the light rail system is 40 percent, making it the least expensive transit mode to operate.
  • Cost of service: Future transit operations cost of service is projected at $92 million annually, stated in 2007 dollars. That translates to $1.61 per system rider or $3.97 per new transit rider.