Worse than credit card debt

If you think that the local property tax rates are high, think about the penalties that will be assessed if you are late paying them.

This graphic came from the city’s web page:

Let’s say that the taxes due on your home are $5,000 for the year.

If you are one week late paying the bill you will owe $5,350.

If you cannot pay until December you will owe over $6,200.

In addition the law firm that has been hired to collect past due accounts can charge you up to 20% after four months.

You could end up paying over 43% for being 11 months late.

Yet the city still complains about the high rates the payday loan companies charge.

We deserve better

Brutus

5 Responses to Worse than credit card debt

  1. mamboman3 says:

    That is a good example of “usury” or something similar. It’s legally sticking it to the little guy to make more money for the city taking it from the most vulnerable. Don’t even try doing this to a rich person who’ll sic his lawyer on you real quick.

    Like

  2. Patrick Haggerty says:

    No

    Sent from my iPhone

    >

    Like

  3. ManintheMoon says:

    The City and the EPCAD makes loan sharks look like choir boys!

    Like

  4. Anonymous says:

    Wow! Did I miss coverage in the Times and šŸ˜‚ on local networks?! This could be a huge problem to those can LEAST afford it!

    Like

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