Recent News and Opinion
2015/3/4 - LPD Lieutenant Haynes Graduates Command College
2015/3/4 - Lewisville Police Arrest 17-year-old in Road Rage Incident
2015/3/4 - Lewisville Hires New Emergency Management Coordinator
2015/3/3 - Winter Storm Warning for Wednesday Afternoon
2015/3/2 - Symphony and Ballet Present Peter and the Wolf
2015/3/2 - Upcoming Events Around Lewisville and the Surrounding Area
2015/3/2 - Winter Weather Back in Forecast for Wednesday
2015/3/1 - LLELA Nature Preserve opens new Blackjack Trail March 21
2015/3/1 - Miscellaneous Notes and Links
2015/3/1 - Citizens Fire Academy begins March 10
2015/2/28 - Candidates for Lewisville City Council, Place 2 - 2015
2015/2/28 - Flower Mound Police Investigate Shooting
2015/2/28 - The Last First
2015/2/24 - Updated: Drought and Lake Update - February 2015
2015/2/24 - Adoptable Pets of the Week
2015/2/22 - Lewisville ISD Closed Monday and Tuesday Due to Hazardous Driving ...
2015/2/22 - Lewisville Morning Rotary taking Flag Subscriptions
2015/2/22 - Severe Weather Awareness Week is March 1-7
2015/2/22 - I-35E Project - Community Meeting and Updates on Closures
2015/2/22 - Be Prepared for a Winter Storm
2015/2/21 - I-35E Nightly Lane Closure - Southbound Near 121 Business
2015/2/21 - Winter Storm Warning in Effect for Sunday 6 p.m. - Monday 6 p.m.
2015/2/21 - Saturday Morning Link Dump
2015/2/21 - Video: Lewisville ISD Board Meeting - 2/9/2015
2015/2/21 - Video: Mayor Dean Ueckert Delivers State of the City Address
Recent Reader Comments
2015/3/4 8:58 - Crenshaw Withdraws (WhosPlayin)
2015/3/2 17:44 - Re: Candidates for Lewisville Mayor - 2015 (WhosPlayin)
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2015/3/2 15:34 - Re: Candidates for Lewisville City Council, Place 2 - 2015 (RNeil)
2015/3/2 7:17 - Re: Candidates for Lewisville City Council, Place 2 - 2015 (WhosPlayin)
2015/3/2 3:31 - Re: Candidates for Lewisville City Council, Place 2 - 2015 (Anonymous)
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2015/3/1 23:32 - Re: Candidates for Lewisville City Council, Place 2 - 2015 (Anonymous)
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2015/2/28 16:28 - Re: Candidates for Lewisville City Council, Place 2 - 2015 (Anonymous)

Idea for Raising School District Revenue

Links, Thoughts, and Open Thread
Posted by WhosPlayin on 2010/6/30 10:42:12 (776 reads)

Okay, so I have this idea about how a school district or local government could raise a bit of extra revenue. I have no idea whether the tax code would allow it or not; that's for the lawyers to decide.

Basically it goes like this:

Right now your average consumer is strapped for cash, and would pay 20% or higher on an unsecured loan. Yet property taxes are payable all at once each year. On the other hand, governmental entities collect all this money at once, and end up spending it slowly over the course of a year. All of this money sits in bank accounts earning much less than 1% per year in interest.

My idea is to offer taxpayers an "amnesty" of sorts when taxes come due. Basically, the governmental entity would waive penalties and let the taxpayer defer paying the taxes without penalty. You'd charge a 12% annual rate (1% per month) on the outstanding balance, and allow it to be paid out within 8 - 10 months. As long as the taxpayer pays the bill completely within that timeframe, they pay no penalty and are not judged to be in arrears. If they miss it, then all penalties apply.

This way, the governmental entity earns much more interest, and in a win-win situation, the consumer pays much less interest than they would if they had to borrow the money to pay the bill.

Of course, there would be some cost to implement such a program, and state law may not allow it. But if it could be worked out, I think it would be a good idea. Maybe it's only a drop in the bucket though.

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Other articles
2015/3/4 8:55:31 - LPD Lieutenant Haynes Graduates Command College
2015/3/4 8:43:00 - Lewisville Police Arrest 17-year-old in Road Rage Incident
2015/3/4 8:00:00 - Lewisville Hires New Emergency Management Coordinator
2015/3/3 23:30:00 - Winter Storm Warning for Wednesday Afternoon
2015/3/2 8:12:49 - Symphony and Ballet Present Peter and the Wolf
2015/3/2 7:50:00 - Upcoming Events Around Lewisville and the Surrounding Area
2015/3/2 7:27:44 - Winter Weather Back in Forecast for Wednesday
2015/3/1 23:10:00 - LLELA Nature Preserve opens new Blackjack Trail March 21
2015/3/1 22:30:00 - Miscellaneous Notes and Links
2015/3/1 17:16:05 - Citizens Fire Academy begins March 10


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