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2014/11/23 - Matthew Grimm to Perform in Lewisville on Sunday, November 30th
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2014/11/23 - 3.3 Magnitude Earthquake Shakes Irving
2014/11/22 - Recycling Rates, Participation Improve with Lewisville's New ...
2014/11/22 - State Unveils New Healthy Texas Women Website
2014/11/22 - Energy Grid Operator ERCOT Offers Mobile Energy Saver App
2014/11/22 - Upcoming Events Around Lewisville and the Surrounding Area
2014/11/18 - Woman Mugged at Gunpoint Sunday Night at Lewisville Grocery Store
2014/11/16 - Lewisville Prepares for Winter Weather with New Equipment
2014/11/14 - Lewisville to Host Pro Watercross Tour at Lake Park in Summer 2015
2014/11/12 - Car Crashes into Lewisville Home
2014/11/12 - Holiday Stroll Planned in Old Town Lewisville on December 6th
2014/11/11 - Thanks to Veterans
2014/11/10 - LISD Superintendent Dr. Waddell Announces January Retirement
2014/11/9 - Happy Birthday, Marines!
2014/11/8 - Lewisville PD Launches Mobile App and Texting to Receive Tips
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2014/11/7 - City Council Meeting Video - 11/3/2014
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2014/11/6 - State Health Department: Ebola Monitoring to End
2014/11/6 - Winter is Coming!
2014/11/5 - Q&A with Lewisville PD on Gangs
2014/11/5 - Election Results for November 4th, 2014
2014/11/2 - Polling Locations for November 4th, 2014 Election
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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 (746 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
2014/11/23 13:40:00 - Matthew Grimm to Perform in Lewisville on Sunday, November 30th
2014/11/23 12:30:00 - Sunday Morning Update - Friendsgiving Edition
2014/11/23 10:19:59 - 3.3 Magnitude Earthquake Shakes Irving
2014/11/22 12:34:52 - Recycling Rates, Participation Improve with Lewisville's New Trash Plan
2014/11/22 12:14:19 - State Unveils New Healthy Texas Women Website
2014/11/22 11:59:49 - Energy Grid Operator ERCOT Offers Mobile Energy Saver App
2014/11/22 11:39:03 - Upcoming Events Around Lewisville and the Surrounding Area
2014/11/18 0:30:00 - Woman Mugged at Gunpoint Sunday Night at Lewisville Grocery Store
2014/11/16 22:10:00 - Lewisville Prepares for Winter Weather with New Equipment
2014/11/14 0:36:09 - Lewisville to Host Pro Watercross Tour at Lake Park in Summer 2015


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