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2014/7/22 - Lewisville Loses Appeal on Sex Offender Ordinance
2014/7/20 - Monday Morning Update
2014/7/20 - Take the Win in Iran
2014/7/19 - Combating Post-Traumatic Stress Event in Denton Saturday
2014/7/14 - Lewisville City Council Adopts Vision 2025 Plan
2014/7/6 - Photos from Lake Park on Independence Day
2014/7/6 - Updated: Council to Consider School Zones for LHS Campuses on Main...
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2014/7/5 - Local Groups Organizing Toiletry Drive for Unaccompanied Minor Imm...
2014/7/3 - Area Independence Day Celebrations and Fireworks
2014/6/30 - Movie Review: Transformers: Age of Extinction
2014/6/29 - Sunday Afternoon Update - Half-Way Through 2014 Edition
2014/6/25 - Updated: DCTA A-Train Tracks Damaged by Floods, Repaired Already
2014/6/24 - Police Arrest Serial Robber
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2014/6/21 - Lewisville Prepares for Once-a-Week Trash Pickup
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2014/6/12 - Movie review: "The Fault in Our Stars" - 8/10
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2014/6/8 - Sunday Night Update
2014/6/6 - Man Arrested on Child Porn Charges After Wife Alerts Police
2014/6/1 - Another Drowning on Lewisville Lake
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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 (720 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
2014/7/22 23:30:00 - Lewisville Loses Appeal on Sex Offender Ordinance
2014/7/20 23:54:58 - Monday Morning Update
2014/7/20 11:02:51 - Take the Win in Iran
2014/7/19 7:35:38 - Combating Post-Traumatic Stress Event in Denton Saturday
2014/7/14 20:50:00 - Lewisville City Council Adopts Vision 2025 Plan
2014/7/6 22:00:00 - Photos from Lake Park on Independence Day
2014/7/6 10:40:00 - Updated: Council to Consider School Zones for LHS Campuses on Main and FM 3040
2014/7/6 9:50:17 - Sunday Morning Update - Independence Day Weekend Edition
2014/7/5 13:10:00 - Local Groups Organizing Toiletry Drive for Unaccompanied Minor Immigrants
2014/7/3 11:00:00 - Area Independence Day Celebrations and Fireworks


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