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2014/10/29 - Lewisville Police Shooting Team Takes Top Honors at Tactical Compe...
2014/10/28 - DCTA, NCTCOG Funding Lewisville Hike-Bike Trails
2014/10/28 - Lewisville Police Offer Free Medication Disposal Year-Round
2014/10/26 - Upcoming Events Around Lewisville and the Surrounding Area
2014/10/26 - Bogard Lane Closed at I-35 For the Rest of the Year
2014/10/26 - Community Meeting Scheduled for I-35 Project Status Update
2014/10/26 - A Story About Molly
2014/10/26 - Teen Driver Accidentally Kills 12 Year Old
2014/10/25 - Denton County Celebrates Groundbreaking of Government Center
2014/10/24 - Affidavit Sheds Light on Shooting Details, Shooter's Gang Aff...
2014/10/23 - Lewisville Police Arrest Gang Member in Wednesday's Shooting
2014/10/22 - Updated: Lewisville Police Respond to Shooting at Round Grove and ...
2014/10/21 - KLB to Host Trinity Trash Bash Waterway Cleanup and Recycling Even...
2014/10/20 - Texas DSHS reports Texans Cleared from Ebola Monitoring
2014/10/19 - Sunday Night Update
2014/10/18 - Updated: Lewisville Loses Appeal on Sex Offender Ordinance
2014/10/18 - Early Voting Starts Monday for November 4th, 2014 Election
2014/10/17 - Updated: Lewisville Police Seek Help Finding Serial Attacker
2014/10/17 - Parents on Edge After Newspaper Misreports LISD Ebola Letter
2014/10/16 - So much news, so little time...
2014/10/15 - Crime Updates from Lewisville Police Department
2014/10/4 - Saturday Morning Update - Yom Kippur Edition
2014/9/30 - Ebola Case Confirmed in Texas Patient
2014/9/29 - Crime and Accident Updates from Lewisville and Flower Mound
2014/9/27 - Shooting Victim Dies from Injury
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Idea for Raising School District Revenue

Links, Thoughts, and Open Thread
Posted by WhosPlayin on 2010/6/30 10:42:12 (745 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
2014/10/29 21:10:00 - Lewisville Police Shooting Team Takes Top Honors at Tactical Competition
2014/10/28 20:40:00 - DCTA, NCTCOG Funding Lewisville Hike-Bike Trails
2014/10/28 18:40:00 - Lewisville Police Offer Free Medication Disposal Year-Round
2014/10/26 22:10:00 - Upcoming Events Around Lewisville and the Surrounding Area
2014/10/26 21:40:00 - Bogard Lane Closed at I-35 For the Rest of the Year
2014/10/26 21:40:00 - Community Meeting Scheduled for I-35 Project Status Update
2014/10/26 19:25:29 - A Story About Molly
2014/10/26 0:05:33 - Teen Driver Accidentally Kills 12 Year Old
2014/10/25 9:50:00 - Denton County Celebrates Groundbreaking of Government Center
2014/10/24 22:30:00 - Affidavit Sheds Light on Shooting Details, Shooter's Gang Affiliation


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