Recent News and Opinion
2015/1/28 - Lewisville Police Seek Help in Attempted Child Abduction
2015/1/28 - Filing Begins in City, School Board Elections
2015/1/27 - Qualifications for Lewisville City Council (Updated)
2015/1/26 - Police Chief's Update: Burglary, Narcotics, Weapons
2015/1/26 - Flower Mound Police Seek Help Identifying Burglary Suspect
2015/1/25 - Sandhill Crane: Rib-eye in the Sky
2015/1/25 - Lewisville ISD Trustees Share Legislative Wish List with State Reps
2015/1/23 - Anne Marie Harvey - 1/21/1961 - 1/14/2015
2015/1/22 - LISD Superintendent Search - Community Input Forums Announced
2015/1/17 - Lewisville Fire Department Responds to Coppell Rubbish Fire
2015/1/17 - Updated: Hit-and-run Fatality on I-35E at Fox Ave. Bridge
2015/1/17 - Vigil Against Violence at City Hall Steps on MLK Day
2015/1/13 - Police Chief's Update: Shooting, Theft, and Memorial Ride
2015/1/13 - Olympic Medalist to Speak at Chamber Awards Luncheon
2015/1/10 - Neighborhood Services Seeks Community Input
2015/1/10 - Household Hazardous Waste Collection on Second Saturday of Each Month
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2015/1/10 - Ruthie Foster Plays Texas Tunes Concert January 17th at MCL Grand
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2015/1/9 - Denton County Opens New Jail Facility
2015/1/7 - Cartoon - Charlie Hebdo
2015/1/6 - Drive-In Theater in the Works for Lewisville
2015/1/6 - Updated: 10 Earthquakes Reported in North Texas
2015/1/6 - Updated: FM 407 Bridge Demolition to Begin Soon
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2014/12/22 20:06 - Note (WhosPlayin)
2014/12/22 19:39 - Re: Islamic Flag at Lewisville Home Raises Eyebrows (Anonymous)

Idea for Raising School District Revenue

Links, Thoughts, and Open Thread
Posted by WhosPlayin on 2010/6/30 10:42:12 (760 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
2015/1/28 13:00:00 - Lewisville Police Seek Help in Attempted Child Abduction
2015/1/28 8:10:00 - Filing Begins in City, School Board Elections
2015/1/27 19:00:00 - Qualifications for Lewisville City Council (Updated)
2015/1/26 20:32:45 - Police Chief's Update: Burglary, Narcotics, Weapons
2015/1/26 15:08:57 - Flower Mound Police Seek Help Identifying Burglary Suspect
2015/1/25 16:53:55 - Sandhill Crane: Rib-eye in the Sky
2015/1/25 11:50:00 - Lewisville ISD Trustees Share Legislative Wish List with State Reps
2015/1/23 21:20:00 - Anne Marie Harvey - 1/21/1961 - 1/14/2015
2015/1/22 23:15:20 - LISD Superintendent Search - Community Input Forums Announced
2015/1/17 23:00:00 - Lewisville Fire Department Responds to Coppell Rubbish Fire


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