Recent News and Opinion
2015/4/24 - Lake and Drought Update - April 24th, 2015
2015/4/23 - Candidates Discuss Issues at Castle Hills Forum
2015/4/23 - Keep Lewisville Beautiful Spring Cleanup Set for April 25th, 2015
2015/4/22 - Wednesday Briefs
2015/4/22 - Hazardous Weather Expected Today
2015/4/21 - Synchronized swimming event April 25-26
2015/4/20 - Lewisville Officer Receives Medal of Valor Award
2015/4/20 - Chalk This Way Festival Set for May 9th in Old Town
2015/4/20 - Monday Morning Briefs - Council Meeting, LLELA, Ghosts, Jams, Prom...
2015/4/19 - Lewisville PD Teams Up with US Army for Recruiting Event
2015/4/17 - Relay For Life at LHS Harmon Campus on May 15th
2015/4/17 - Family Protests Lack of Police Action in Assault of Teen Daughter
2015/4/17 - Friday Briefs
2015/4/17 - Upcoming Events Around Lewisville and the Surrounding Area
2015/4/16 - Document Sheds Light on April 7th Murder
2015/4/15 - County-wide Food Drive Precedes Mayors' Day of Concern
2015/4/15 - Letters: LISD Board Candidate Smith Exposed
2015/4/15 - Temporary Closure of Connector Road Between Southbound I-35E Front...
2015/4/13 - Flood WARNING for Denton County
2015/4/13 - Lewisville Fire Marshal Ready to Help Apartment Residents with Tra...
2015/4/11 - Group Distributes Partisan Questionnaire to Local Candidates
2015/4/10 - TNMP Offering $5,000 grants to non-profits, free training on grant...
2015/4/10 - Updated: Second suspect in murder captured in New Orleans
2015/4/10 - Neuter Your Male Cat for a Nickel This Sunday
2015/4/10 - Upcoming Events Around Lewisville and the Surrounding Area
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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 (806 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
2015/4/24 7:37:21 - Lake and Drought Update - April 24th, 2015
2015/4/23 22:20:00 - Candidates Discuss Issues at Castle Hills Forum
2015/4/23 22:00:00 - Keep Lewisville Beautiful Spring Cleanup Set for April 25th, 2015
2015/4/22 8:03:30 - Wednesday Briefs
2015/4/22 6:00:00 - Hazardous Weather Expected Today
2015/4/21 23:08:37 - Synchronized swimming event April 25-26
2015/4/20 22:50:00 - Lewisville Officer Receives Medal of Valor Award
2015/4/20 7:40:00 - Chalk This Way Festival Set for May 9th in Old Town
2015/4/20 7:10:00 - Monday Morning Briefs - Council Meeting, LLELA, Ghosts, Jams, Promises, and Cleanup
2015/4/19 12:20:00 - Lewisville PD Teams Up with US Army for Recruiting Event


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