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2015/4/1 - Lewisville ISD Moves to Gender-Neutral Restrooms
2015/3/29 - Mix of optimism and speculation swirling around future of Vista Ri...
2015/3/28 - A Salute to the Greatest Generation
2015/3/28 - Volunteers Plant Trees at Soon-to-open Copperas Branch Park East
2015/3/28 - TCEQ Announces Preliminary Approval of Camelot Landfill Expansion
2015/3/27 - Keep Lewisville Beautiful Spring Cleanup Set for April 25th, 2015
2015/3/27 - Upcoming Events Around Lewisville and the Surrounding Area
2015/3/25 - Miscellaneous Links for Wednesday
2015/3/24 - TNMP Urges Customers to Have Spring Power Outage Plan
2015/3/20 - Videos: Lewisville City Council Retreat - March 19th, 20th, 21st -...
2015/3/18 - 35Express Project Hosts Community Meetings Along the Corridor
2015/3/18 - Denton County Democrats to Host LBJ-Obama Dinner
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2015/3/17 - Rain in the forecast
2015/3/17 - Updated: Partial Demolition Work Scheduled this Weekend for Fox Av...
2015/3/17 - Updated: Feral Hogs Swimming Across Lewisville Lake
2015/3/16 - Central Park to Undergo ADA Renovations
2015/3/14 - Witherspoon Distillery Acquires Old Piggly Wiggly Building
2015/3/13 - Special Easter Programs at Flower Mound Presbyterian Church
2015/3/13 - Upcoming Closures for the 35Express Project in Carrollton, Copper ...
2015/3/13 - Bills in the Texas Legislature Seek to Give, Take Away Local Contr...
2015/3/13 - Upcoming Events Around Lewisville and the Surrounding Area
2015/3/12 - Candidates for Lewisville Mayor - 2015
2015/3/11 - Lewisville and Farmers Branch Reach Agreement on Camelot Landfill
2015/3/10 - Lewisville Wins Governor's Community Achievement Award; $290,...
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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 (790 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
2015/4/1 0:00:00 - Lewisville ISD Moves to Gender-Neutral Restrooms
2015/3/29 19:10:00 - Mix of optimism and speculation swirling around future of Vista Ridge Mall
2015/3/28 18:10:44 - A Salute to the Greatest Generation
2015/3/28 17:10:00 - Volunteers Plant Trees at Soon-to-open Copperas Branch Park East
2015/3/28 14:50:00 - TCEQ Announces Preliminary Approval of Camelot Landfill Expansion
2015/3/27 21:10:00 - Keep Lewisville Beautiful Spring Cleanup Set for April 25th, 2015
2015/3/27 20:40:00 - Upcoming Events Around Lewisville and the Surrounding Area
2015/3/25 7:20:00 - Miscellaneous Links for Wednesday
2015/3/24 13:06:59 - TNMP Urges Customers to Have Spring Power Outage Plan
2015/3/20 5:30:00 - Videos: Lewisville City Council Retreat - March 19th, 20th, 21st - 2015


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