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2015/9/2 - Updated: Three arrested in two separate incidents for assaulting p...
2015/9/1 - All DCTA Services Down For Labor Day
2015/8/29 - City hits $2.4 million snag in Valley Ridge extension project
2015/8/29 - Saddle Club to Host Labor Day Rodeo - Sept 5, 6
2015/8/28 - Supervisor wins senior pageant
2015/8/28 - Farmers football falls short against Rowlett
2015/8/26 - Fighting Farmers face Rowlett Eagles in Thursday game
2015/8/26 - Police ID suspect in July murder
2015/8/25 - Lake Dallas coach arrested for sex with student
2015/8/24 - Lewisville schedules mosquito spraying
2015/8/22 - LTJ Print Edition
2015/8/21 - Live Music Reviews: Dolly Shine at Hat Tricks Thursday, August 20th
2015/8/21 - Ham radio operators host HF radio day Saturday
2015/8/20 - VAL's "As Above, So Below" Exhibit: A Critical View
2015/8/19 - Motorists Reminded to Be Careful as Kids Head Back-to-School
2015/8/19 - LHS Volleyball Starts Season Strong
2015/8/19 - Upcoming Closures on the 35Express Project
2015/8/18 - Lewisville Kroger store to close after 28 years
2015/8/18 - Lewisville Voters to Decide on Bond Package
2015/8/17 - DCTA service changes effective Monday, August 24
2015/8/16 - LTJ Prints First Newspaper
2015/8/14 - Lake Park reopened after flood waters recede
2015/8/14 - Upcoming Event s Around Lewisville and the Surrounding Area
2015/8/13 - Visual Arts League of Lewisville Fresh Ideas 2015: A Critical View
2015/8/13 - Food Reviews: Pita Houzz
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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 (878 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
2015/9/2 0:20:00 - Updated: Three arrested in two separate incidents for assaulting police officers
2015/9/1 14:50:00 - All DCTA Services Down For Labor Day
2015/8/29 9:40:00 - City hits $2.4 million snag in Valley Ridge extension project
2015/8/29 9:31:07 - Saddle Club to Host Labor Day Rodeo - Sept 5, 6
2015/8/28 18:56:44 - Supervisor wins senior pageant
2015/8/28 7:10:00 - Farmers football falls short against Rowlett
2015/8/26 20:30:00 - Fighting Farmers face Rowlett Eagles in Thursday game
2015/8/26 13:56:45 - Police ID suspect in July murder
2015/8/25 22:36:23 - Lake Dallas coach arrested for sex with student
2015/8/24 17:17:31 - Lewisville schedules mosquito spraying


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