Recent News and Opinion
2014/4/22 - Candidate Profile and Questionnaire: Tracy Scott Miller for LISD ...
2014/4/21 - Candidate Profile and Questionnaire: Kristi Hassett for LISD Boar...
2014/4/19 - Videos: Lewisville City Council Retreat - April 17th, 18th, 19th
2014/4/18 - Council Offering Donna Barron the City Manager Post
2014/4/17 - Video: Trustee Candidates at LTJ/Parents4LISD Student Voter Forum
2014/4/17 - Board Tours LISD Westside Aquatic Center
2014/4/13 - LTJ, Parents4LISD to Host Student Voter Forum April 15th
2014/4/13 - Sunday Morning Update - Almost Tax Day Edition
2014/4/11 - City-wide Spring Cleanup Set for Saturday, April 26th
2014/4/11 - Sheriff's Office Warns About Bogus Warrant Calls
2014/4/9 - Updated: FBI Announces Arrests in Child Sex Trafficking Cases
2014/4/7 - Lewisville Woman Wins Big on Price is Right 8,000th Episode
2014/4/7 - Lewisville Implements Year-Round Water Restrictions
2014/4/5 - Flower Mound to Use Social Media to Warn About Traffic Enforcement
2014/4/5 - Friends of the Library Host Book Sale Saturday and Sunday
2014/4/1 - Lewisville Buys Land Previously Proposed as Gas Drilling Site
2014/4/1 - Lewisville Resident Makes Splash in Neighborhood with Free Beer
2014/3/31 - Annual Charity Art Gala Scheduled for April 18th
2014/3/29 - Saturday Morning Update
2014/3/26 - Video: 35Express Project Holds Community Meeting in Lewisville
2014/3/24 - Old Town Resident Opens Little Free Library
2014/3/23 - LISD School Board Meeting Notes - March 17th, 2014
2014/3/18 - Economic Development Agreement Reached for Three Restaurants to Se...
2014/3/13 - Thursday Night Update
2014/3/8 - Dutch Oven Cookers Share Food, Fellowship, and Fun
Recent Reader Comments
2014/4/22 13:07 - Re: Council Offering Donna Barron the City Manager Post (kjudk1955)
2014/4/21 21:00 - Council offers Barron position effective May 1st (WhosPlayin)
2014/4/20 19:29 - Re: Videos: Lewisville City Council Retreat - April 17th,... (WhosPlayin)
2014/4/20 11:40 - Re: Videos: Lewisville City Council Retreat - April 17th,... (jbcglc)
2014/4/13 15:00 - Re: Sunday Morning Update - Almost Tax Day Edition (fvaughan)
2014/4/1 23:20 - Re: Lewisville Resident Makes Splash in Neighborhood with... (Anonymous)
2014/4/1 23:06 - Re: Time to Come Clean - April Fools! (Anonymous)
2014/4/1 22:42 - Re: Lewisville Resident Makes Splash in Neighborhood with... (WhosPlayin)
2014/4/1 22:19 - Re: Lewisville Resident Makes Splash in Neighborhood with... (WhosPlayin)
2014/4/1 21:43 - Re: Time to Come Clean - April Fools! (WhosPlayin)
2014/4/1 21:40 - Re: Time to Come Clean - April Fools! (WhosPlayin)
2014/4/1 21:32 - Time to Come Clean - April Fools! (WhosPlayin)
2014/4/1 21:10 - Re: Lewisville Resident Makes Splash in Neighborhood with... (WhosPlayin)
2014/4/1 18:35 - Re: Lewisville Resident Makes Splash in Neighborhood with... (Anonymous)
2014/3/30 20:36 - Re: Mary Smith files for Place 6 on LISD Board (Anonymous)
2014/3/30 20:35 - Re: Mary Smith files for Place 6 on LISD Board (Anonymous)
2014/3/29 23:20 - Re: Mary Smith files for Place 6 on LISD Board (Anonymous)
2014/3/26 6:18 - Cane Russo: $1,000 for a side of ranch dressing (WhosPlayin)
2014/3/26 4:07 - Re: Was Texas House Candidate Pat Fallon a Resident of De... (Anonymous)
2014/3/24 22:48 - Krista Stone for Place 6 (WhosPlayin)
2014/3/23 12:43 - Moving school board elections would be a terrible idea. (WhosPlayin)
2014/3/23 9:35 - Re: Economic Development Agreement Reached for Three Rest... (Anonymous)

Idea for Raising School District Revenue

Links, Thoughts, and Open Thread
Posted by WhosPlayin on 2010/6/30 10:42:12 (699 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.

- Rating: 0.00 (0 votes) - {$lang_ratethisnews}
 
The comments are owned by the poster. We aren't responsible for their content.


Other articles
2014/4/22 23:20:00 - Candidate Profile and Questionnaire: Tracy Scott Miller for LISD Trustee, Place 7
2014/4/21 22:55:48 - Candidate Profile and Questionnaire: Kristi Hassett for LISD Board of Trustees, Place 6
2014/4/19 8:10:00 - Videos: Lewisville City Council Retreat - April 17th, 18th, 19th
2014/4/18 16:35:09 - Council Offering Donna Barron the City Manager Post
2014/4/17 23:11:19 - Video: Trustee Candidates at LTJ/Parents4LISD Student Voter Forum
2014/4/17 22:30:00 - Board Tours LISD Westside Aquatic Center
2014/4/13 19:00:00 - LTJ, Parents4LISD to Host Student Voter Forum April 15th
2014/4/13 10:50:00 - Sunday Morning Update - Almost Tax Day Edition
2014/4/11 23:10:00 - City-wide Spring Cleanup Set for Saturday, April 26th
2014/4/11 7:00:51 - Sheriff's Office Warns About Bogus Warrant Calls


The Lewisville Texan Journal is a service of SagePost, Inc.
Login to Comment
User:
Pass:
Remember me
Lost your password?
Create New Account