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City of Alexandria, Virginia Budget Fiscal Year 2011 Essay
The City of Alexandria is recognized as one of the best places to live and do business on the east coast. In 2004, the Alexandria City Council adopted a
Strategic Plan for 2004 thru 2015 with the vision of maintaining the city's vibrant, diverse, historic, and unique neighborhoods. Their mission is to
maintain financial stability, provide excellent services that are valued by the customers, and engage the entire community as it plans for the future
(City of Alexandria, 2010). In fiscal year 2009, the City of Alexandria received the Distinguished Budget Presentation Award for its annual budget. To
receive this prestigious award, the city must meet program criteria as a policy document, as an operations guide, as a financial plan, and as ... Show
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The budget will present three important factors: the narrative which describes the agency's objectives, the detailed schedule that translates the request
for new agency appropriations, and the cumulative schedules, "which aggregate the new initiatives into existing activities to form the complete
request" (Mikesell, 2011, p. 174).
Alexandria, Virginia is home to over 8,000 thriving businesses and organizations. The City's budget serves as the blueprint for financial decisions
implemented during the fiscal year. The FY 2011 Operating Budget and Capital Improvement Program (CIP) maintained its commitment to the
residents of Alexandria. The General Fund is $531.6 million, an increase of 0.3 percent over last year's budget maintaining all of the core city services
despite the challenging economic conditions. Alexandria residents will pay about $125 more in property taxes along with higher fees for parking
meters and storm–water management projects, among other services. The real estate taxes increased slightly but still remain among the lowest in the
Northern Virginia region. In the budget, $167.9 million was allocated to the Alexandria City Public Schools, and a $1.6 million increase was set aside
for transit subsidy. The final change
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The Early School Funding Litigation
Most of the early school funding litigation efforts generally focused on education equity, which was to guarantee the same amount of per pupil funding
for every student in the state. Starting in the 1960s, the focus of the lawsuits began to shift from equity to adequacy. Lawsuits brought about by
stakeholders claim that current state funding procedures violate policy outlined in either the federal or state constitution. Although many of the federal
lawsuits have been futile, many successful claims under state constitutions have not only led to reform in the states where state systems were
abolished, but also kindled the conversation for many states to take a closer look at their funding practice and revise policy as to avoid any future...
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The heightened focus on education equity and adequacy has garnered substantial attention from both policy makers and media outlets. As a result of the
spotlight, school finance litigation has forced states to not only change the way they fund schools but to improve and update their states' assessment and
accountability systems. (Griffith, 2005).
Arguments for and against State Funding
States have to exercise their due diligence and responsibility to plan for and deliver a system of free, public education. States also have the duty to
balance funding based on local school systems fiscal capacity to pay for educational programs. The State of Georgia's Constitution specifically
states that the provision of an adequate public education for the citizens shall be a primary obligation of the State of Georgia. Public education for
the citizens prior to the college or postsecondary level shall be free and shall be provided for by taxation. The expense of other public education shall
be provided for in such manner and in such amount as may be provided by law (Ga. Const. art. VIII, pt. I). According to the Structure of School
Finance overview, although education is a state task, virtually every state, has delegated the school systems' operation to the local school systems. The
states simply maintain an overseer and compliance function in the local school
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Persuasive Essay On Gentrification
Kristen BroylesProfessor Thomas English 101 28 November 2017 Gentrification Webster's Dictionary defines gentrification as "the process of renewal
and rebuilding accompanying the influx of middle–class or affluent people into deteriorating areas that often displaces poorer residents." This sounds
frightening to lower class citizens. However, Justin Davidson, author of "Is Gentrification All That Bad?" claims "Gentrification doesn't need to be
something that one group inflicts on another; often it's a result of aspirations everybody shares." Gentrification does not need to be the rich pushing
the poor out. It can be the rich and the poor working together to make their city a wealthier and safer place to live. Gentrification improves
communities by allowing more economic growth for all. Many opponents to gentrification argue that it will cause property taxes to go up and cause
many families to struggle. Rising property taxes could occur, and may result in more struggles in the lower class and families that are already
struggling, but these struggles are still just something that may happen but is not a guaranteed repercussion. There are many families that are trying to
stay afloat and are barely doing so. Living paycheck to paycheck, a tax increase can be detrimental for some families. It will help improve
communities and promote new businesses. Author of "Cities Mobilize to Help Those Threatened by
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Essay on Education Policy in Michigan
An outdated education system is the largest problem Michigan faces because it affects not only the present, but also the future of the state. Important
issues cannot be solved, nor policies created to remedy them, if the people attempting to solve them are not equipped with the skills and knowledge
needed to make informed decisions. The state cannot run itself, let alone the nation as a whole, if its' people are uneducated. The Constitution, the very
basis of our government, relies heavily on the assumption that citizens of the United States are able to make knowledgeable and well–reasoned
decisions, the types of which cannot be made when a person does not receive a proper education. This proper education is unattainable when low ...
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After several years of success, the required cuts along with economic woes rendered Proposal A largely ineffective and unable to properly fund
Michigan's schools, creating a massive problem in the way Michigan school districts are to be funded, as well as developing a need for new
educational policy to supplement or overhaul Proposal A and the Michigan educational system. The educational funding problem in Michigan
takes root back in 1809, when the first public school was founded. While funding was not an issue at the time, the way schools were funded
through local property taxes eventually created a large problem. Fast forward to 1985, Michigan has long moved past the rural cities of the 1800's
and into affluent suburbs and cities. The size and taxation pools of cities have greatly changed from 1809 to 1985, but the way schools were funded
remained exactly the same. This lack of change led to a large disparity in school funding from richer districts to poorer districts. Coupled together
with local governments' inability to convince citizens to vote in favor of millages and tax hikes, the disparity ballooned. In 1993, Bloomfield Hills
ranked in the 99th percentile of Michigan schools, was spending on average $10,294 per–student, while Standish Sterling ranked in the bottom 1st
percentile, spent $3,738 per–student, roughly a $6,500 difference per–student (Roy 2003). This inconsistency greatly disadvantaged students all the
way to 95th percentile, where there
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Rhetorical Analysis Of Gentrification
Selena Gaddis
English 101
Section 28
Professor Zhuravlyova
Rhetorical Analysis
27 October 2014
Modern Gentrification
In the constantly changing economy of cities, the growth of city housing is oftentimes neglected. In "Cities Mobilize to Help Those Threatened by
Gentrification" Timothy Williams recounts how gentrification has evolved over the years. Mentioning how cities have changed in order to appease the
younger professionals, Williams shows how the city itself is in jeopardy due to the tax increases. Slowly loosing their faithful residents as well as
historic culture cities face a big deal. Williams gives quotes from faithful residents, "...long time homeowners are victims of the success story",
(Williams 346). In "Cities Mobilize to Help Those Threatened by Gentrification", Williams uses his credible quotes and modern statistics to generate
the reader's emotions, with desire to change how city officials go about gentrification in culturally infused cities. Williams starts his article by
describing how cities work to bring in younger professionals who are looking for housing in the city, as well as the impact the new housing is affecting
the working and ... Show more content on Helpwriting.net ...
Williams' provides another quote, Rene Goodwin, a resident who has grown up in the city, " To keep an urban are vital, there has to be an infusion of
new people and buildings, but that doesn't mean you destroy people who have kept up the neighborhood, who've swept the sidewalk", she states.
Gentrification does not always have to be in with the new and out with the old. "It's that commitment that has made developers interested in the
neighborhood and then you're going to penalize the people who have stayed? " Goodwin continues. Williams' also adds that city officials need to
congratulate and thank the longtime faithful residents who have been with the
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Real Property Tax Assessment
This is the first in a series of articles written to inform the real property taxpayer how to appeal your property tax assessment. Drawing upon my
many years of experience in both the private and public sector property tax business, I have written this article in general terms that apply to the many
states and counties in the US, and focused it on what everyone needs to know should you want to appeal your property tax value.
Fair Market Value
All states base their assessed value on fair market value (also referred to as "market value"), or a defined percentage of fair market value (here in GA
we are assessed at 40% of the fair market value estimate). The Appraisal Institute has defined market value as:
The most probably price, as of a specific ... Show more content on Helpwriting.net ...
2. Sales Comparison Approach...estimates a property's value (or some other characteristic, such as its depreciation) by reference to comparable sales.
This approach, like the name implies, entails comparing your property to the sale of comparable properties in your market area. Adjusting for
differences (such as numbers of bathrooms) by adding (or subtracting) the approximate value of the differences to the sale price, you can get an
indication of what your property might sell for.
3. Income Approach...uses capitalization to convert the anticipated benefits of the ownership of property into an estimate of present value.
This approach is rarely (I'm guessing never) used by taxing jurisdictions to appraise single family residential property. Larger metropolitan counties
with a lot of market data use this approach to value commercial properties. Essentially the income approach takes the potential rental income of your
property, deducts for anticipated operating expenses, and applies a capitalization rate to the left–over net operating income (NOI). The capitalization
rate is derived from market data showing what multiple of NOI investors are paying for similar
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Prince Georges County: Country Analysis
CAFR ANALYSIS PRINCE GEORGE'S COUNTY
I have seen many changes growing up in Prince Georges County (PG), a minority–dominated county in Maryland. The government has spent a massive
amount of money to revitalize the county. This includes the $250.5 million transformation of Jack Kent Cooke Stadium (now FedEx Field) and the
massive $2 billion National Harbor project in Oxon Hill, MD[i]. There are rumors the county plans to rename the crime–infested city of Landover,
where I currently live, to Hyattsville, a neighboring city, predicting that this will ease the bad repetition of this area. However, these renovations and
changes are only temporary solutions since they are only masking the problems that put my home county deeper in ... Show more content on
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DEEP carries a low balance of expenditures totaling $567 to public safety with no expenditures within the general government, public welfare and
debt service accounts. However, PMS, DV, and CC all carry expenditures. PMS has the balance of $150,572 in the general government expenditures
sector and DV has the balance of $303,401 in the public welfare sector. CC has a deficit expenditure of $5,000 in general government despite not
having any revenues for this fiscal year. Finally, DEEP started with beginning year fund balance of $4,866,750 and ending year fund balance of
$6,971,225, which shows the fund, has increased more than $2 million. The other three program funds have decreased.
Despite substantial support of DEEP by the state, it is mindboggling the crime rates continue to soar. According to the PG Police Department, between
the years of 2000 to 2004, PG has had an increase of 23.1% in total crime. In addition, the county has a 62.8% increase in total crime between 1984 and
2004 relating to drugs and other illegal paraphernalia[iii]. These alarming statistics has lead many to conclude that program funding is being distributed
and executed improperly.
The pension fund has a great deficit when comparing assets and liabilities. The total number of tax delinquencies has nearly tripled compared with prior
years. According to the Schedule of Funding Progress (Sch. Of FP,) the county has outstanding pension liability of $762,335,239[iv]. These pension
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Types Of Proprietary Funds Or General Fund Vance County
Addition to the Governmental Funds or General Fund Vance County has one type Proprietary Funds– Enterprise Funds which are used to report the
same functions presented as business–type activities in the government–wide financial statements. The County uses enterprise funds to account for its
water activity and for its solid waste management operations (Department, June 30, 2015). The County's proprietary funds provide the same type of
information found in the government–wide statements but in more detail. Total net position of the Solid Waste Fund at the end of the fiscal year was
$751,736, and for the Water Fund equaled $1,662,088. The change in net position before prior period adjustments for the Solid Waste Fund was
$20,513 while the change in net position before prior period adjustments for the Water Fund was $1,610,863 (Department, June 30, 2015). Granville
County has two types of Proprietary Funds Enterprise Fund which is very similar to Vance Countyexcept in Granville County their unrestricted net
position of the Solid Waste Fund equaled $(7,658,465) (Department, June 30, 2015). The total net position for all proprietary funds is $(1,948,415).
The total change in net position for the proprietary funds was a decrease of $103,579 (Department, June 30, 2015). This change in net position
primarily results from decreased non–current liabilities for post closure care costs resulting from legislative changes and increased personnel costs.
Granville County's second
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The Meeting I Attended Was The City Of St. Augustine 's...
1.The meeting I attended was the city of St. Augustine's special meeting to establish the city's fiscal budget and millage rate for the year. It took
place on September 22nd, at 5:05pm. The city of St. Augustine holds its city commission meetings every second and fourth Monday of the month at
Alcazar Room in City Hall, which is located at 75 King Street, St. Augustine, FL. This meeting's purpose was to establish the millage rate for the city
and how to allocate those funds into a set budget for the upcoming year. The new millage rate of 7.500 mills was approved for the fiscal year of
2016–2017, which is an increase of 5.47% from last year, in addition to a new budget for the upcoming year. 2.All of the city commissioners were
present for the meeting, they include: Todd Neville, Nancy Sikes–Kline, Leanna Freeman, Mayor, Nancy Shaver, and Vice Mayor, Roxanne Horvath.
At the meeting just about every type of group was represented, city residents of St. Augustine, business owners, special interested groups, in particular
the Clean Up the City of St. Augustine initiative represented by Ed Salvin, and even a local Neighborhood Association represented by its president
Susan Rathbone was present. Almost all of the individuals I mentioned attended the meeting to voice their belief that there should be an increase in the
budget for improvement of local roads. 3.The meeting I attended did offer an agenda but did not name a chairperson. When the call to order was
issued, there was
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Read Savage Inequalities by Jonathan Kozol
TARA BURKE FIELD DAY # 1 11/27/12 CHOICE # 1 Revised Read Savage Inequalities by Jonathan Kozol. Kozol examines the inequities in school
financing between Urban and suburban schools, Chapter 3 (2 points) In 1964, the author, Jonathan Kozol, is a young man who works as a teacher.
Like many others at the time, the grade school where he teaches is segregated (teaching only non–white students), understaffed, and in poor physical
condition. Kozol... Show more content on Helpwriting.net ...
Richer homeowners also get tax relief for paying their mortgages. Meanwhile, poor black areas are dumping grounds for toxic waste and garbage,
which benefit the wealthier citizens, but they tend to be the only places poor non–whites can afford to live. Low properrty values result in badly
funded, dangerous schools. Wealthier whites avoid these public schools and move to suburbs where their property taxes go toward building elegant
public schools. Trier school is an example. It attracts a highly trained staff, and boasts an Olympic swimming pool as well as other luxuries. An article
about this suburban school brags that most of the students in it are white. Kozol says that magnet schools (special public schools built for the most
talented students) seem like a good idea, but are also unfair. The inner city disadvantaged non–white students usually don't provide head start programs
or educated parents who can help them push for admittance. Students of magnet schools are mostly white. Disadvantaged students watch television and
know they are being treated like something less than human. This is savagely cruel. In the next area, New York, Kozol sees the same pattern of filth,
indifference and degradation. The difference between money spent in
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Essay On Property Tax
The XYZ report projects that by XYZ, xyz of the world would live in an urban area one in every XYZ Americans would live in an urban area. The
population of Americans that live in urban areas (add definition) has risen from XX in 20xx to YY in 20yy. (–– removed HTML ––) As of 2008,
America's local governments spent about one–eighth of USA's national gross domestic product (GDP), one–fourth of total government spending, and
employ over 14 million people (Glaeser).
As of 2011, there are 89,000 local governments, 13,000 school districts and 37,381 special districts. A local body relies on three major sources of
revenue – property tax, intergovernmental transfers and user charges or fees. Property tax accounts for one of the largest revenue ... Show more content
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They attribute the sharp decline between 1977 and 1985 to the various tax limitations introduced in several states at the time. A detailed analysis by
quintiles also revealed a significant stickiness in the share of property tax values.
Property Tax: A theoretical model
Factor mobility is a key factor for local bodies. Charles Tiebout in his seminal 1956 article put forth a model where local bodies compete in the
provision of public services. He considers a city resident who wishes to move to the suburbs, 'a consumer–voter', who selects a community that best
reflects and satisfies his preferences for public goods. Given that local governments have set patterns of expenditure and revenue, the greater the
number of local governments, the closer the consumer–voter may find his preferences represented.
Tiebout's model is based on the following assumptions: perfect mobility of consumer–voters; their perfect knowledge of differences between revenue
and expenditure patterns and the ability to react to these differences; many communities to choose from in which to live; no employment restrictions as
all consumer–voters live on dividend income and no external economies or diseconomies in the provision of public goods between communities.
Additionally, he also defines an optimum level of community services i.e. the number of residents for whom the bundle of services can be produced at
the lowest average cost. The relevance of this assumption
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Property Tax Statement
Family lawyers do not always know all the legalities of splitting up assets and liabilities when calculating marital property. It is in your best interest
to do some of the homework yourself and be aware of the pitfalls and opportunities. Plus, doing some of the work yourself will save some money
you might have paid to your lawyer for doing the same thing. If you are in the midst of an emotional divorce, you tend to overlook key financial
decisions. Rather than leaving all the financial details to your family lawyer, you need to get involved, no matter how painful. CHECK YOUR
HOME'S APPRAISED VALUE Look at your Property Tax Statement to find your home's assessment value within your county. If you do not have your
Property Tax Statement, filed... Show more content on Helpwriting.net ...
This completely different than a down payment. Many people will become confused when their Realtor asks how much of an earnest money deposit
they'd like to offer. Lets examine the importance of an earnest money check, where it goes and who it belongs to. When you write an offer on a piece of
real estate, it's important to accompany it with proof that you are serious about buying the home. The seller will oftentimes take the amount of
earnest money provided into consideration when deciding on whether or not to accept your offer. The check will typically not be written directly
to the sellers. Actually, it's a bad idea to do so. The money should be held in escrow and is typically written to the real estate company the buyer's
agent works for. Sometimes, the seller will require it to be written to their agent's company. Either way, it is held in escrow not belonging to either
party until the sale of the property is executed. The money then gets released to the lender and is credited to the buyers upon the sale of the home.
In the event that the buyers decide not to go ahead and purchase the home, the money will be released to the sellers and the home will go back on
the market. Basically, the earnest money deters the buyers from walking away from the purchase for no good reason. When the sellers accept a
contract on their home, they are not legally allowed to accept another offer. This money acts as "insurance" for the sellers, making them feel
comfortable about accepting the offer knowing the buyers are serious and will lose the money if they decide against going through with the sale.
Accepting an offer not accompanied by an earnest money check is somewhat foolish. The buyers can walk away with no penalty and the seller's home
can be stuck in limbo for a period of time, not able to put it back on the market due to the original contract without earnest money. I have
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The Pros And Cons Of Gentrification
Gentrification: Does the Good Outweigh the Bad?
A study by The Urban Institute describes gentrification as "a process whereby higher–income households move into low income neighborhoods,
escalating the area's property values to the point that displacement occurs." Gentrification generally takes place in deteriorating urban or rural areas.
The purpose of gentrification is to take struggling neighborhoods and stabilize them by increasing property value. Naturally the system isn't perfect, as
it has the side effect of displacement, which can cause some people to have to move to a different location, but overall gentrification is much more
beneficial than destructive on a large scale. All neighborhoods have to be improved eventually. Gentrification is simply the most effective way of doing
it. Although there are some negatives associated with Gentrification, in the long run it succeeds in creating a better place for people to live, and the pros
far outweigh the cons.
The purpose of gentrification is to take struggling neighborhoods and stabilize them by investing in the neighborhood. Gentrification is "the
rehabilitation and settlement of decaying urban areas by middle– and high–income investors." (The Columbia Encyclopedia). These investors raise the
value of the neighborhood by improving facilities and making the neighborhood look better. This doesn't always benefit everyone since some citizens
get displaced. However, the number of people displaced is very minor in
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Property Tax and Management
Property Tax & Management
Q.1
The tenant must comply with various rules set out in law and by the landlord in order to exercise a break clause in the lease in the future, some of the
main elements are outlined below: – The tenant must adhere to the duration of the lease and the timeframe that it occupies in order to exercise a break
in the lease without complication. If the tenant overstayed the agreed timeframe the landlord would have provision to make a case and bring it before
the courts.
– The extent of the liability imposed on the tenant, whether the lease terms are confined to just the lease payments or whether the tenant is also
responsible for repair/maintenance etc.
Failure to carry out repairs and/or maintenance would negatively impact on the tenants ability to exercise a break clause in the future.
– Where the Landlord applies for planning permission resulting in the structure of the building being altered causing possible obstruction trading this
would give the tenant an opportunity to negotiate a break in the lease due to the fact it is impacting negatively on their business.
In Ireland there was a case which is currently still unresolved between Dennis O'Brien and BT Communications where a number of complications
arose, conditions of ecercise of the break clause in the lease included a 12 month notice of exercise of the break along with payment of damages to the
amount of 6 months rent on the date the break is exercised.
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San Antonio School District Vs. Rodriquez Essay example
San Antonio School District Vs. Rodriquez
Rodriquez was started by parents whose children attended elementary and secondary schools in the Edgewood Indecent School District. About 90% of
the students were Mexican American and 6% were African American. In Rodriquez, the Plaintiff's brought a class action on behalf of school children
who were members of poor families who reside in school districts having a low property tax base. They claimed that the school's confidence on local
property taxation favors the more well off and violates equal protection requirements. The Supreme Court examined the Texasschool finance structure
and rejected this claim. They ruled that education was not a fundamental right under the Federal Constitution and ... Show more content on
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This meaning that the poorer the people within the neighbor the poorer the school districts will be. Although this case shed some light, it failed under
the federal Equal Protection analysis because education was not a "fundamental right" recognized by the Constitution and because the educationally
disadvantaged poor did not constitute a "suspect classification." The Court refused to overturn the school finance system on grounds of inequality.
Equally notable, this case "virtually abdicated any role for the federal courts in guaranteeing educational rights under the Federal Constitution," leaving
future plaintiffs "to state courts and constitutions for the change they seek (www.schoolfunding.com)."
One con to this case was that even under independent state equal protection analysis, state courts are still responding as did the U.S. Supreme Court:
"the existence of 'some inequality' .. is not alone a sufficient basis for striking down the entire system." This reluctance to require equality marks the
majority of all state decisions, as it did in the federal equal protection field. Nonetheless, plaintiffs continue the traditional equality arguments
(Verstegen, 1998).
Education should not be denied because of financial reasons. Children shouldn't be denied an education because of their "wealth status"; they should be
guaranteed an equal, fair education.
References
Brimely, V and Garfield, R. (2005). Financing Education in a Climate of Change (9thed.) Boston, MA: Ally
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The Tax Impact When Renting Your Property. Renting Your
The Tax Impact When Renting Your Property
Renting your home and becoming a landlord also has some handsome tax perks. Rental income is taxed as ordinary income and your taxes could be
largely eliminated with the numerous deductions on expenses and depreciation. Please note the there is on major tax rule that may mitigate this benefit.
If the house is eventually sold and you qualify for a capital–gains tax exemption discussed earlier, you 'll be taxed on the amount you depreciate, which
would make renting out your home considerably less attractive than selling.
With respect to expenses, you can deduct almost any out–of–pocket expenses related to owning and managing the home including property taxes,
mortgage interest payments, advertising ... Show more content on Helpwriting.net ...
In reality, for most homeowners, renting out a home is not an option for them. The sale of their home is necessary in order to put down a
downpayment for their next home. Many homeowners only have enough capital to purchase one home, let alone 2 homes. There is a capital reserve
required when renting properties.
Tenants come and go and the homeowner has to pay the mortgage payments on the rental property regardless of whether or not he has paying tenants
at the time. These are valid risks to consider when deciding to rent your property.
When renting a property, there is also the risk that a tenant could damage the property or cause other issues that would lead to an expensive eviction
process. In most states, the legal process to carry out an eviction could cost up to $5,000 and the process could take 1 to 2 years to
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What Are The Divisions In The City Of Bend, Oregon Government
The City of Bend, Oregon Government consists of approximately 500 employees across thirteen different divisions. These divisions are Police, Fire,
Community Development, Public Works, etc and are all coordinated under the City Manager's office. Bend's government style is called a "weak
mayor" form of city government, in that the citizens elect a city council, which then elects a mayor from among the council members. The city
council and mayor, then hire a City Manager to run the day to day operations of the city. In doing this form of government, the City Manager is not
directly accountable to the citizens and can focus on the needs of the city and its employees. At the same time, the City Council can only provide
direction to the city manager and is accountable to the citizens. The city employees in this case are led by the city manager as directed by city council.
The community leadership environment in this case is established by council to provide direction to the city manager. For the Organizational
Assessment provide for this module I used information and experience provided to me during the course of my... Show more content on Helpwriting.net
...
First, leadership training opportunities are provided quarterly though our local community college. COCC (Central Oregon Community College) has
partnered with both Deschutes County as well as the City of Bend to provide a leadership class four times per year. As an employee, I receive
emails for these programs, with associated fees, multiple times per month. The classes are not limited to public employees, and are sent to the cities
NGOs as well. As an employee of the city, if I wish to participate in one of the classes, the city will pay for it. In addition to funding leadership
training for its employee, the city also provides funding for two NGOs which I see as strengths of the
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Poverty Reflection
have a student named LaDashe who comes to school late everyday and the days she not late she is absent. When she comes to school she usually
puts her head on a desk and sleeps or her behavior is causing disruption in the classroom. We were informed late in the year that she was homeless
and living in a shelter with her mother and three siblings.. So that explains a lot of what was going on with LaDashe. We were also informed that
LaDashe mother was a student of the school her daughter was attending as well,like mother like daughter had exhibited some of the same behavior as
LaDashe. In my Urban Leadership class we talked about never ending cycles. LaDashe and her mother is an example of never ending cycle that is
definitely repeating itself. LaDashe and her mother are types of people stuck in poverty from one generation to the next generation. I worked with a
teacher who said," poverty is a choice" We got in someone of discussion regarding his words. After, taken the course Urban Leadership I often relate
back to his words. I know poverty is not a choice however, some are born into poverty and remain a lifetime. In my Urban Leadership course one
reason for poverty is the lack of education. If we could give everyone a fair and equal education we could hopefully wipe out poverty. We need to get
all of politicians, community , teachers, and parents all on the same page t help our low income students. A way to help our low achieving students is
to designate the funds so all schools receive accurate funds necessary to help all students succeed.
Property Tax
Our class discussion on affluent towns that pay less taxes than less affluent towns. In class we talked how towns like Greenwich CT. mill rate is .11
much less than Bridgeport a town in much need of funds which has a higher mill rate of.25. We talked about the difference in tax each town pays per
year. Bridgeport mill rate is about 2.3 times more than Greenwich. In , a 1 million dollar home tax each year is about 11thousand, whereas, a 1
million dollar home tax in Bridgeport is 25 thousand. Bridgeport tax is so much higher than a lot of affluent towns, the Bridgeport schools
academically should be performing much
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St. Peterville City Case Study
1.The meeting I attended was the city of St. Augustine's special meeting to establish the city's fiscal budget and millage rate for the upcoming year.
It took place on September 22nd, at 5:05pm. The city of St. Augustine holds its city commission meetings every second and fourth Monday of the
month in the Alcazar Room at City Hall, which is located at 75 King Street, St. Augustine, Florida. The meeting's purpose was to establish the
millage rate for the city and how allocate those funds into budget for next year. The new millage rate of 7.500 mills was approved for the fiscal year of
2016–2017, which is an increase of 5.47% from last year. Additionally, a new budget for the upcoming year was also approved.
2.All of the city commissioners ... Show more content on Helpwriting.net ...
The first concept illustrated by this meeting was the concept of effective management and planning covered in module 6. By the accounts of residents,
it is clear that the city has not been effective in previous years, in planning the restoration and preservation of local roads. The city has not been
proactive in planning which streets should be repaired, when, or to what those repairs should be. A common complaint of residents was that the city
appeared to be content on postponing repairs when it would be more convenient and cost–effective to handle the situation as soon as possible. I believe
St. Augustine should practice a more adaptive style of management and respond to changing conditions. From listening to the meeting, it seems that the
city originally underestimated the problems plaguing their roads and decided that certain areas could stand to wait for repairs. From the accounts of
citizens, it is clear that philosophy is not going to stand anymore. In my opinion, I think the city needs to be more proactive and handle the
deteriorating condition of their roads a lot sooner than later, and at the very least re–evaluate old plans. The second concept demonstrated was
collective action. Collective action is defined as a coordinated effort of several individuals or groups, who cooperate to accomplish specific goals.
What was originally just a basic meeting to approve a budget quickly turned into a discussion on a major public issue due to the words of several
speakers.
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Finance And Budget Text Questions Essay
Finance and Budget Text Question The current issues regarding education finance and funding is the lack there of. Money is the top issue. The
financial crisis which Texas faces has recently arrived in the hands of the Texas Supreme Court, which now holds a lawsuit filed by approximately 600
school districts. The lawsuit aims to decide whether the current Texas school funding system violates the state constitution (Smith, 2015).
The breakdown to the finance shortfall stems from the state not having enough money to fund public education at the current levels without increasing
taxes, which many legislators vow not to do. In recent years, the Texas Legislature reduced property taxes and increased the business and cigarette tax,
but the changes were not able to off–set the funds lost (Wirth, 2013). Educational funding then took another hit when $5 billion was cut from public
education in 2011. School programs and resources are dependent on the dollars received from the state. As enrollment in Texas schools continues to
grow and property tax revenues begin to fall, the budget crisis in Texas is growing and not getting any better (Smith, 2015). Recently, the 84th
Legislature approved and passed the state budget bill for the 2016–2017 Biennium. House Bill 1 appropriates $209.4 billion in total spending and
passed bills which allows increasing homestead exemption on school district property taxes resulting in a $1.2 billion tax break for Texas homeowners,
and reducing the
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New York Property Tax Case Study
The New York property tax problem has grown out of hand and now threatens the state's economic growth. If New York wants to attract more
businesses and residents to capitalize on the full potential the state's new casinos will offer the state economically, it must reduce its overall tax burden.
By reducing their sky–high property taxes, it can lower some of the pressure placed on the state's equally high income tax rates. Working to fulfill his
campaign promise from 2011, New York's Governor Andrew Cuomo proposed a $1.7 billion plan to reduce the amount New Yorkers pay in income
tax each year as well as reform the problematic state revenue source in January.
The Sky–High New York Property Tax
All of New York's tax rates are high (and confusing).
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The Negative Effects Of Gentrification
Gentrification: Is it good or bad? The root meaning behind the word gentrification comes from the Old French word "genterise" meaning "people of
gentle birth". However, in the modern day, gentrification can be defined in multiple ways such as "the process of renovating and improving a house or
district so that it conforms to middle–class taste" or "the process of wealthier residents moving to an area, and the changes that occur due to the influx
of wealth". In simple terms, the concept behind gentrification refer to the change which a community goes from low value to high value, however the
effects of gentrification are far more complex. The positive impacts of gentrification includes higher wages due to the boost of economy in the given
area, more tax revenues, and lower crime rates. The other end of the impacts of gentrification spectrum include the displacement of long term residents
and businesses due to higher rents, property values, mortgages, and property taxes, as well as shifting of the community's culture and characteristics.
Gentrification has been a controversial topic and it has a significant impact on the social, economic and demographic changes in the communities
specifically in the modern day today. This raises the question of, is gentrification good or a bad? The basic causations of gentrification can be
explained in three basic categories: the supply–side factor, demand–side factor, and policy factors. The supply–side factor theory entails the various
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Project Report On Budget Budgeting Essay
Projected Budgeting In this week's assignment paper, I am a manager of a property management and I am to draft a memo to my employees to hand
in a projected budget for the upcoming year. A budget is a "financial plan to control future operations and results", to improve future performances
and attain a profit goal (Shim & Siegel, 2011). In order to create a great budget and get the best results you must eliminate budget weaknesses such as
unrealistic figures and different methods of preparing budget (Shim & Siegel, 2011). In my memo, I am asking my employees for a short–term, annual
projected budget for the upcoming year. My goal is to make sure that my employees ' projected budget does now show weaknesses that will cause
drastic changes to operations and results by making sure their budget is realistic and does not go over budget cost. Even though a projected budgeting
is a forecast, it should be realistic and should consider what–if scenarios of both intrinsic and extrinsic factors to the budget. Because I want a realistic
projected budget, I expect my employees to explain in their projected budget how they got their numbers and provide resources (Shim & Siegel,
2011). I want my employees to use previous projected and actual budgets to come up with the upcoming years projected budget as a resource do a
thorough research to make sure their data are accurate and as realistic as it can be and have facts to defend the data figure. I would also like my
employees to consider
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Public School Of Public Schools
In 2003, Wellesley accepted the provisions of Massachusetts General Law, Chapter 60 Section 3D which authorizes volunteer contributions by citizens
to a Tax Relief Fund to help offset tax obligation for elderly or disabled individuals. Town's Taxation Fund Committee establishes the rules and
regulations and donations of any amount over $1.00 is accepted. The solicitation was virtually non–existent and the town has received zero donation
from the community that it is considered a failed policy. On the contrary, Wellesley Educational Fund (WEF) continues to solicit donations from all
residents including empty nesters. The fund collects a sizable combined donation every year. Their mission statement states the fund is used "to
enhance, enrich and maintain educational excellence and foster innovation in the Wellesley Public Schools" (WEF.org., 2016). Wellesley public
school teachers were among the highest paid in 2015 with an average salary of $90,041 (doe.mass.gov., 2016), and it is always good to remember
where the source of money comes from. In addition, WEF awards grant to excellent teachers.
Policies, Suggestions, and Recommendations to Be Considered Massachusetts's property tax relief programs are designed to help low–income elders
and disabled citizens off–set the burden of real estate tax bills. The current eligibility brackets are standard for all cities and towns in Massachusetts
without much consideration given to the average estate values in each town they
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The Ambivalence of Direct Democracy Essay
The California Constitution states, "All political power is inherent in the people. Government is instituted for their protection, security, and benefit, and
they have the right to alter or reform it when the public good may require." (CA Const. art. 2, sect. 1) Indeed, the age–old maxim that the government
is for the people is evident in California's Constitution, and the inception of direct democracy by the early 20th century Progressive movement follows
this ideology. The 2nd article of California's constitution includes three forms of direct democracy: the initiative, referendum, and recall. Respectively,
these forms of direct democracy grant electors the power to propose statutes and amendments, adopt or reject statutes and ... Show more content on
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Direct democracy's initiative sounds appealing in theory, but realistically, history has shown that the average voter is incapable of truly assessing the
effects and repercussions of these ballot proposals. This is clearly exemplified by Proposition 13, an initiative that, as author Isaac Martin states,
became a "nationwide symbol of tax revolt" (Martin). Proposition 13 essentially set the property tax rate to 1% and stated that the assessed value of
homes could not exceed the 1975–76 assessed value. This reduced taxes by about 57% (californiataxdata.com), a truly drastic decrease, which
translates to a loss of $7 billion in property taxes during the 1978–79 fiscal year (McCaffery & Bowman, 530). Consequently, Proposition 13 led to
intense repercussions; the huge decreases in finances forced local agencies to look for funding elsewhere, and severe cuts were made. The Los Angeles
Times conducted a survey of 70 southern school districts and found that two–thirds of them had eliminated or sharply curtailed summer school. Also,
Long Beach school sent layoff notices to nearly half of its staff of teachers, and by June 28th there was a total of 3,252 estimated layoffs with 165,000
imminent layoffs. The repercussions continued, with prices escalating to cover the decline of financing. And ironically,
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Debt Refinancing Reflection
property–taxes
The Octorara Board of Directors and Finance Committee met on Monday, September 19, 2016. All Board members were in attendance.
Debt Refinancing
This is a wonderful opportunity to remind people if all you do is either attend the Board Meetings (the 3 or 4 of you) or watch the videos, you are
missing 95% of the discussions and information. Yes, Mr. Ganow did mention the Debt Refinancing in the Facilities Committee Report, but you
received very little of the information detail. This is why I have repeatedly asked that we start broadcasting Committee Meetings and posting the
minutes online. What could it hurt? But, I digress...
The Committee received a Debt Service Presentation from Ken Phillips and Rhonda Lord of RCB Capital ... Show more content on Helpwriting.net ...
How did that work? In reality, it only accelerated our financial problems. One thing we must keep in mind, a 3.2 percent property tax increase does not
cover a 3.2 percent budget increase.
A 3.2 percent budget increase adds more than $1.66 million in costs and a 3.2 percent property tax increase will likely raise only roughly $1 million of
additional revenue. This is because a large portion of our revenue comes from other sources like the State and Federal governments. Property taxes are
the largest portion of our revenue, but it is significantly short the cost of the budget, So, expect to add an additional $600K deficit to the carried over
deficit from last year.
Ok, sure, nothing has been decided. However, there are only so many viable paths here. So, you can choose to listen to those who hide behind the
process or you can take an active roll, pay attention, and make your voice
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Motivational Motivation
The purpose of this study is to examine the underlying reasons an employee is motivated to function at his or her best. I am currently employed at
the Erie County Board of Developmental Disabilities (ECBDD). It is a public local governmental agency charged with providing support to
individuals with disabilities who qualify for services. The agency is funded through tax dollars at the local, state and federal level. The annual
operating budget is approximately $8,000,000, and seventy percent of these dollars are collected through local property taxes.
The agency employs approximately fifty people that fall within three departments. One of the departments is comprised of Service and Support
Administrators (SSAs). The primary role of ... Show more content on Helpwriting.net ...
Currently, the SSAs are producing at an average of 65 percent of their time per month. They are not meeting the 75 percent monthly productivity rate
that has been established by the ECBDD. There is a tangible cost to the agency due to the low productivity rates. The county board has the potential to
generate an additional $2,496,000 to $3,321,600 in revenue each year though TCM billable units. This is significant for a non–profit agency that relies
heavily on local property tax dollars for funding. Because of this disengagement and lack of productivity, the board of directors are not willing to
approve addition positions for future SSAs until additional dollars are being generated through the TCM process. Therefore caseloads will go up,
SSAs are becoming frustrated and individuals with disabilities may go without services.
"What people think, feel and do, in and around organizations is important for the organizations financial health, survival, and success" (McShane &Von
Glinow, 2012, p. 6). "There is a long–term negative productivity development trend, where public employees perform less and less but successfully
demand more and more in salaries" (Lane, 2000, p. 42). This has historically been the case. SSAs would receive a 2 to 3 percent increase in salary each
year. However, today, any increase in salary is tied to performance and productivity. If they do not achieve the expected 75 percent
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Lack of Education Funding Essay
Within the federal government's budget education is among the most important yet in the year of 2012 the federal government only spent $107.6
billion out of 3.7 trillion which amounts to 3% on education. Compared to other funding categories in the government's fiscal year of 2012's budget
it's clear to see that education isn't as important to the government officials as they would like us to believe. Many Americans today are lead to believe
that education is important to government officials and it receives an adequate amount of funding because they don't know how much funding is put
into the other categories of the budget. The funding put into education in the year 2012 is only 1/8 of social security spending and 1/5 of Medicare...
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Results taken from the executive summary of the Education Law Center in New Jersey show that a small percentage of states who have funding
systems put in place and provide greater funding to high poverty districts remain the most progressive states yearly. Whereas a larger percentage of
states have funding systems where districts with higher poverty rates receive less funding, these states remain the most regressive. (School funding
disparities persist, analysis shows).
The sad reality of it all is that gross funding inequities continue to persist in the U.S and no one seems to be working steadily to rid this problem.
When putting funding into education equity should be focused on rather than equality. According to the National Report card there are core fairness
principles that must be followed to maintain equal opportunity. The 3rd principle states that the level of funding in a district should increase relative
to the level of concentrated student poverty rate. Therefore state finance systems should provide more funding to districts serving larger share of
students in poverty (Is School Funding Fair? 7). Examining the school district of Philadelphia one could see that this principle is not being followed.
The No Child Left Behind Act was created in 2001 to ensure that no later than 12 years after 2001 (2013) all students will meet the states standards.
The act
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The Importance Of Property Tax In America
Your Property May be Worth More Than you Think The American suburban neighborhoods; a symbol of true social euphoria. Well off suburbs with
adequate parks, consistently maintained streets, and up to par public facilities. Yet most important, residents who generally share the same tax bracket,
whose funds support everything from streets, facilities, and the public schools around them. Furthermore, well off neighborhoods, contribute a larger
amount of funds to their local public schools through their local property taxes than public schools of the less advantaged. It was this structure of
localized funding that purported economic discrimination. As pointed out by John Yinger in the text, Helping Children Left Behind; " The Supreme
Court ... Show more content on Helpwriting.net ...
Allowing this to become a nationwide issue of social justice, which is taking place in the education financial system.
However, there are too many discrepancies being ignored by the general public on the nature of local property taxes and their role in public
education. Therefore, using local funds to support local schools of each designated district, allows for educational discrimination. Thus, it would
seem utmost important to the future of public education, in relation to funding, to end local taxing that goes into the funding of school. Instead,
public school funding should derive from the federal income tax funds, to ensure every student who attends public education institutions to receive
the same amount of funds which are to be invested in their academic career. An idea also shared with Brian Wilson, author of the article,"Raising
Taxes for Education Is Not the Answer," as Wilson states; " When money is short, leaders must raise taxes or create new ones to make up for what
they perceive as lost revenue. However, government should always resist the creation of a new tax unless it replaces one that has been
abolished"(Wilson,p.11). It simply would not seem fair to increase federal tax for all just to help fund public schooling, considering that is the general
purpose for local property tax. That is why, it would seem most indispensable to remove local property taxes. The majority of these funds go to
maintaining and or upgrading public facilities, as
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Analysis Of The Article ' The American Ideal '
Vasi Papadopulos
Mr. Lofaro
20 American History
September 28, 2015
The American Ideal
As expressed in the constitution, the United States has not lived up to the ideal of equality. Economic inequality has surged into a greater issue over
the past several years. Gender inequality is something that has began to reduce in the US ever since the 1900s. Even though big changes have been
made, gender inequality stills exists in the workplace due to many reasons. Furthermore, ever since colonial times, racism has been a prodigious
problem in the United States . Examples of racial inequality includes poverty and education, as a result, racial inequality has become an obstacle
America has been facing all throughout our history
First, economic ... Show more content on Helpwriting.net ...
Subsequently, even though big changes have been made, gender inequality stills exists in the workplace. In the United States, the percent of
women engaged in the workforce is falling behind other western countries. The United States ranked 22nd best in terms of gender equality out of
135 countries. Researchers say that that the United States is falling behind due to the lack of business and social support for working women. In
addition to this, the United States is the only industrialized nation that does not have paid parental leave. Moreover, in an Huffington post article,
Katy Hall found that as a result of the Family Medical Leave act of 1993, new parents are guaranteed their jobs twelve weeks after their baby is
due. This act does not require the company to give fully paid maternity leave. Unpaid parental leave could make a woman not want to work since
if she does it would be harder for her to start a family. Hence, this makes it harder for women to work. If a woman is not having paid maternity
leave, then this will cause her to have problems when trying to provide for her child if she does decide to have one. Moreover, a study directed by
researchers at San Fernando Valley State College said that " when an individual with a PhD applies for a position at a university, that individual is
significantly more likely to be offered a higher level
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Housing Market and Property Taxes Effect Essay examples
During the Great Recession, we have seen property taxes and the housing market bubble decline substantially. During this down turn of housing
prices and decrease in taxes we saw a drop in the revenue that is created by property taxes. Property tax helps to pay for a majority of public services
but most importantly our K–12th grade education system. It also helps fund parks, police and fire department services as well. During this period of
down turn there was not a raise in taxes causing the states to increase spending cuts and to use more federal monies and their rainy day funds. Because
of this lack of revenue coming from property tax and housing bubble it caused the local governments budgets to be impacted negatively. By examining
how ... Show more content on Helpwriting.net ...
Also, there can be planned structural deficit which is where the government decides to invest in the future of the country. For example, investing in job
training, higher education, transportation or infrastructure changes throughout the city are all planned structural deficits. These are all investment that
will not show an immediate return causing a structural deficit, but one that is planned.
California is a good example of how cyclical and structural deficit problems can become a financial crisis in local governments. California has
throughout it's time had high economic growth allowing them to get a budget that could expand public service, maintain tax cuts and maintain a
high living type of life style. After the Great Recession we see that the downturn of economic production and the use of rainy day funds have
crippled the progress they once with keeping a well balanced budget. Because of this, California and other states are facing huge budget gaps that
they cannot bring to a close. California has tried to solve its budget problems with tax cuts and one time tactics to curb the problem temporarily. In
addition, California has shown trends of having a spending problem and being unable to live within its means. The problem is these quick fixes were
only temporary measures.
When economic times get rough, policymakers often neglect to make the tough decisions needed to
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The Average Property Tax Rate
Antonio Gonzalez
USP 120
11 FEB 15
Instructor: Jack McGrory
Midterm
Proposition 13
Before 1978, the average property tax rate for a home in California was at a little less than 3% of the assessed value of a home. There were no limits on
annual increases for the tax rate or on the individual 'ad valorem' charges; the taxes based on the assessed value of the property (Stoltman, 2013).
During the early seventies the real estate market experienced dramatic growth and there was a rapid escalation in the value of our homes. At this
time assessors were required to keep assessed values current. Because of such, property taxes were skyrocketing at a substantial rate. However,
increases in the assessed value were not made every year thus resulting in a major tax jolt for homeowners every few years (California Tax Data,
2002). Prior to Proposition 13 local agencies could independently establish their tax rates, and make the total property tax rate composite of the
individual rates with only few limitations. It was common in the late 1970's for homeowners to lose their homes due to uncontrolled taxes.
Essentially, before Prop. 13 if someone bought a home on a block in the 1950's for $100,000 and someone else bought a home next door to you for
$300,000, your property tax would go up because the assessed value of your home would go up with the new sold value, not with the price you paid
for your home. This boom of the 70's ultimately gave rise to a tax revolt that would aim to
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The Pros And Cons Of School Funding
When local property taxes were the primary source of school funding, districts were financially stable and were able to allocate funds for appropriate
spendings. With the limitations set on property taxes, school budgets became dependent on the state's fluctuating economy and tax collections.
Fortunately, in 1988, Proposition 98 was passed, which set a minimum base funding for public schools. This proposition guaranteed funding that would
grow each year with the changing economy along with student enrollment. This funding, though managed by the state was a combination of state
General Fund and local property tax revenues.
LCFF
When the Local Control Funding Formula (LCFF) was adopted by California in 2013, educators were hopeful ... Show more content on Helpwriting.net
...
These eight priorities include: student achievement, school climate, basic services, implementation of Common Core standards, student engagement,
parental involvement, course access, and other student outcomes (Koppich 2015). Though the LCFF was designed for local control, the state still holds
them accountable to meeting these goals.
Benefits to the LCFFThough some may believe that the implementation of LCFF is a disservice to districts that may not have as many disadvantaged
students or students of EL, others may see that the LCFF model does, in fact, have more benefits than none. Through the LCFF, districts are now
required to communicate and collaborate with employees (administrators, teachers, personnel, bargaining groups, students) and the community to
develop the LCAP. According to EdSource, it was found that the LCFF has "created an unprecedented level of engagement among school district
leaders, community leaders, parents, teachers, and students" (2016). Districts have more control in how to spend these funds that align with what their
needs are. As the LCFF purpose was to provide more services/programs for EL Learners, foster youth, and low–income students, we find that this
system is not only a district decision, but also a community–based decision. The communities now play a vital role in how allocated fundings are spent.
This provides opportunities for
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Unit 9 Assignment Essay
BS100 Business Math
Unit 9Assignment
Answer the following questions directly on this document. Please bold or highlight your final answer.Where needed, round to the nearest cent.
To find payment amounts, you may use Excel, the EZ Calculators app, or the tables in the Chapter if those tables have the needed values. When
finding an APR, give an exact value using Excel or the EZ Calculators app. Show work.
1]A cell phone has a purchase price of $299. The phone can be financed by putting $100 down and paying $20.50 a month for 12 months. Find (a) the
amount financed, (b) the total monthly payments, and (c) the total finance charge.
Total selling price = $299
Down payment = $100
Amount financed = 299–100 = $199
Total monthly payments = ... Show more content on Helpwriting.net ...
The down payment is $5,000 and the mortgage will be for 30 years at 5.5%. Find (a) the monthly mortgage payment, and (b) the total cost of interest.
Amount borrowed = 90,000–5,000 = $85,000
Amortization payment factor = 5.6779
Amount of loan in thousands = 85
Monthly mortgage payment = 85*5.6779 = $482.62
Total cost of interest = (482.62*360)–85000 = $88,743.20
7]The selling price of a home is $125,000. The down payment is $5,000 and the mortgage will be for 30 years at 7%. Find (a) the monthly mortgage
payment, and (b) how the first monthly payment is broken down into interest and principal.
Amount borrowed = $120,000
Amortization payment factor = 6.6530
Amount of loan in "000" = 120
Monthly mortgage payment = 6.6530*120 = $798.36
$120,000 mortgage has a monthly payment of $798.36
The monthly interest rate = 7/12 = 0.5833%; therefore, in each row below,
Monthly interest = Unpaid balance*0.005833
Principal payment = Total payment – monthly interest
Month Unpaid Balance Interest payment Principal payment Total payment New balance 1 $120,000 $699.96 $98.4 $798.36 $119,901.60
8]Oprah Winfrey has closed on a 42–acre estate near Santa Barbara, California, for $50,000,000. If Oprah puts 20% down and finances at 7% for 30
years, what would her monthly payment be?
Down payment = $10,000,000
Amount borrowed = $40,000,000
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Federal Income Tax, State Tax And Property Tax
The concept behind federal income tax, state tax, and property tax is........
The ratification of the sixteenth amendment to the constitution established the federal income tax. The federal income tax is a tax the United States
government collects on the wages and income an individual may earn in a year. Each year federal income taxes are collected from millions of
Americans based on a progressive taxing formula. The progressive structure of the formula is designed to ensure that each individual no matter their
income, pays what is considered a fair taxation rate. If an individual earns more, more taxes are levied against the earned wages and income.
States tax their citizens in a similar fashion as the federal government. However, the income tax rates or percentages at the state level are much lower.
States also employ a tax that the federal government does not have. This tax is called a sales tax. The tax on goods and services such as clothing,
automobiles and dining in at a restaurant is regressive. No matter what the income of an individual, the tax remains the same, unlike a progressive
system. There are many states that do not have an income tax. These states get a large proportion of their revenue from sales taxes. States such as
California, New York, and Massachusetts, have some of the highest state income tax and sales taxes in the United States.... Show more content on
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A county in Texas cannot tax a property in Nevada. The federal government does not levy property taxes, some states do, and all local counties and
municipalities do. Homes, land, and buildings are considered property. Not every individual owns property so not everyone pays property
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Exploring The Tax Treatment Of Deductions, Losses, Sales...
Investing in real estate has become increasingly popular over the last fifty years and has become a common investment vehicle. Although the real estate
market has plenty of opportunities for making big gains, buying and owning real estate is a lot more complicated than investing in stocks and bonds. It
is pretty common for people using rental property to offset high expenses and provide some cash flow. However, the tax effects on these transactions
can be complex and not well understood. This paper is focus on describing the tax treatment of deductions, losses, sales and exchange for real property,
especially a mixed–use rental property, where a property is used as a personal residence as well as for rental purpose.
1. Types of Residential Property for tax purpose
For tax purpose, there are three types residential property, which are personal use, the mixed–use, and rental use. The deductibility of the expenses and
rental losses depend on the categorization of the real property belong to. Therefore, it is important to understand the categorizations.
1) Personal
Obviously, if a real estate is used for personal purpose not for rental or business purposes, it is personal use real estate. However, it is still personal
use when a taxpayer rents out his or her personal residence less than 15 days during a tax year. Under this situation, the taxpayer is not required to
report the rental income and may not deduct any rental expenses other than mortgage interest and property
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The Effects Of High Compliance Rate On Municipal City Of...
Research Design and Methodology
4.1Introduction
The purpose of this study is to find out what are the causes of the high compliance rate in property taxes in the municipal city of Portmore, Jamaica.
Taxes are of essential importance to small developing countries as they do not have much needed resources. As further developments takes place in the
municipal city property values will increase, hence the amount of property tax collected by the Portmore municipal council will also increase. This
increase however, is not a guarantee that the tax collection will be sufficient in the maintenance of the community due to the rising cost of goods and
services. Hence continuous voluntary compliance is essential and important as it most efficient for both the tax payer and the tax authorities.
This section gives the hypothesis or research perspectives, the design of the research and the methods that were used to gather the data.
4.2 Hypotheses/ Research Perspectives
My research perspective on the Municipal City of Portmore attaining the highest compliance rate property tax collections in Jamaica are:
That the tax payers have recognised the need and importance of property tax to the community.
The taxpayers are knowledgeable about property tax and the consequences if not paid.
The local authorities are ensuring that the community is well maintained by effectively and efficiently using the tax collecting in providing services
such as timely collection of garbage, maintaining and
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The City Of The Golden State
Let's say you're a Californian who was born and raised in a major city in the Golden State. You just graduated and received your bachelors in one of
the many UC schools that the state offers. And now you found a job that fits your career choice. So you decide to move out from your roommates
place and into a new home. Well thing is you probably won't be looking to lease a house but rather rent a house or most likely an apartment. Back
then especially before 1978 you could most certainly be able to do this. But thanks to prop 13 stance on capping the states property tax measures, it's
extremely difficult to own a home in California. After 40 years in state law, prop 13 has released some unfortunate effects on the young and lower
income. Having to pay more in property taxes than rent, it's a no brainer why many young Californians are moving out of here. On June 6th, 1978,
nearly two–thirds of California's voters passed a measure that would reduce property tax rates on homes, businesses and farms by 57%. Many state
residents were living with increasing property taxes on the state. And a new proposition came, allowing property owners to reduce taxes on their
properties. Thus residents were able to use a rational principle towards achieving their goal. However now, many new young people are turning away
from home buying due to high property taxes according to the California Legislative Analyst's Office. Today, this may seem as an eviction notice but
for some, proposition 13 is
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The And Its Effects On The Community
Wellesley has been known as a well to do community with good school systems. The neighboring communities such as Weston, Wayland, and Needham
are also comparable in terms of real estate values and excellent educational systems. However, in Wellesley, there has been a rapid change in landscapes
throughout the town due to what is described as a demolition haven. Although the culprit of the recent high–end building boom is unclear, new
constructions replaced by the teardown act are popping up to be transformed into mansion size houses. What is Wellesley trying to compete against?
What impacts do they impose on seniors who are retiring or have retired? Many old houses have their inconveniences but have characters which have
painted a part of beautiful Wellesley scenery. The recycled properties increase the value of the houses on the street, which in turn increases theproperty
tax bill due to increased assessed values. It resembles a domino effect. Many elderly people are trying hard to stand firm on their feet to avoid being
knocked over, but controlling their environment is nearly impossible and seeing annual updated assessed property values with increased appreciation
may only be described as a nightmare. Proposition 2 ВЅ (MGL Chapter 580 of the Acts of 1980), also known as Property Tax Levy or levy, is a
Massachusetts law passed by ballot vote in November of 1980. Its purpose is to limit the amount of money city or town can raise from property taxes.
There are three
... Get more on HelpWriting.net ...

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City Of Alexandria, Virginia Budget Fiscal Year 2011 Essay

  • 1. City of Alexandria, Virginia Budget Fiscal Year 2011 Essay The City of Alexandria is recognized as one of the best places to live and do business on the east coast. In 2004, the Alexandria City Council adopted a Strategic Plan for 2004 thru 2015 with the vision of maintaining the city's vibrant, diverse, historic, and unique neighborhoods. Their mission is to maintain financial stability, provide excellent services that are valued by the customers, and engage the entire community as it plans for the future (City of Alexandria, 2010). In fiscal year 2009, the City of Alexandria received the Distinguished Budget Presentation Award for its annual budget. To receive this prestigious award, the city must meet program criteria as a policy document, as an operations guide, as a financial plan, and as ... Show more content on Helpwriting.net ... The budget will present three important factors: the narrative which describes the agency's objectives, the detailed schedule that translates the request for new agency appropriations, and the cumulative schedules, "which aggregate the new initiatives into existing activities to form the complete request" (Mikesell, 2011, p. 174). Alexandria, Virginia is home to over 8,000 thriving businesses and organizations. The City's budget serves as the blueprint for financial decisions implemented during the fiscal year. The FY 2011 Operating Budget and Capital Improvement Program (CIP) maintained its commitment to the residents of Alexandria. The General Fund is $531.6 million, an increase of 0.3 percent over last year's budget maintaining all of the core city services despite the challenging economic conditions. Alexandria residents will pay about $125 more in property taxes along with higher fees for parking meters and storm–water management projects, among other services. The real estate taxes increased slightly but still remain among the lowest in the Northern Virginia region. In the budget, $167.9 million was allocated to the Alexandria City Public Schools, and a $1.6 million increase was set aside for transit subsidy. The final change ... Get more on HelpWriting.net ...
  • 2. The Early School Funding Litigation Most of the early school funding litigation efforts generally focused on education equity, which was to guarantee the same amount of per pupil funding for every student in the state. Starting in the 1960s, the focus of the lawsuits began to shift from equity to adequacy. Lawsuits brought about by stakeholders claim that current state funding procedures violate policy outlined in either the federal or state constitution. Although many of the federal lawsuits have been futile, many successful claims under state constitutions have not only led to reform in the states where state systems were abolished, but also kindled the conversation for many states to take a closer look at their funding practice and revise policy as to avoid any future... Show more content on Helpwriting.net ... The heightened focus on education equity and adequacy has garnered substantial attention from both policy makers and media outlets. As a result of the spotlight, school finance litigation has forced states to not only change the way they fund schools but to improve and update their states' assessment and accountability systems. (Griffith, 2005). Arguments for and against State Funding States have to exercise their due diligence and responsibility to plan for and deliver a system of free, public education. States also have the duty to balance funding based on local school systems fiscal capacity to pay for educational programs. The State of Georgia's Constitution specifically states that the provision of an adequate public education for the citizens shall be a primary obligation of the State of Georgia. Public education for the citizens prior to the college or postsecondary level shall be free and shall be provided for by taxation. The expense of other public education shall be provided for in such manner and in such amount as may be provided by law (Ga. Const. art. VIII, pt. I). According to the Structure of School Finance overview, although education is a state task, virtually every state, has delegated the school systems' operation to the local school systems. The states simply maintain an overseer and compliance function in the local school ... Get more on HelpWriting.net ...
  • 3. Persuasive Essay On Gentrification Kristen BroylesProfessor Thomas English 101 28 November 2017 Gentrification Webster's Dictionary defines gentrification as "the process of renewal and rebuilding accompanying the influx of middle–class or affluent people into deteriorating areas that often displaces poorer residents." This sounds frightening to lower class citizens. However, Justin Davidson, author of "Is Gentrification All That Bad?" claims "Gentrification doesn't need to be something that one group inflicts on another; often it's a result of aspirations everybody shares." Gentrification does not need to be the rich pushing the poor out. It can be the rich and the poor working together to make their city a wealthier and safer place to live. Gentrification improves communities by allowing more economic growth for all. Many opponents to gentrification argue that it will cause property taxes to go up and cause many families to struggle. Rising property taxes could occur, and may result in more struggles in the lower class and families that are already struggling, but these struggles are still just something that may happen but is not a guaranteed repercussion. There are many families that are trying to stay afloat and are barely doing so. Living paycheck to paycheck, a tax increase can be detrimental for some families. It will help improve communities and promote new businesses. Author of "Cities Mobilize to Help Those Threatened by ... Get more on HelpWriting.net ...
  • 4. Essay on Education Policy in Michigan An outdated education system is the largest problem Michigan faces because it affects not only the present, but also the future of the state. Important issues cannot be solved, nor policies created to remedy them, if the people attempting to solve them are not equipped with the skills and knowledge needed to make informed decisions. The state cannot run itself, let alone the nation as a whole, if its' people are uneducated. The Constitution, the very basis of our government, relies heavily on the assumption that citizens of the United States are able to make knowledgeable and well–reasoned decisions, the types of which cannot be made when a person does not receive a proper education. This proper education is unattainable when low ... Show more content on Helpwriting.net ... After several years of success, the required cuts along with economic woes rendered Proposal A largely ineffective and unable to properly fund Michigan's schools, creating a massive problem in the way Michigan school districts are to be funded, as well as developing a need for new educational policy to supplement or overhaul Proposal A and the Michigan educational system. The educational funding problem in Michigan takes root back in 1809, when the first public school was founded. While funding was not an issue at the time, the way schools were funded through local property taxes eventually created a large problem. Fast forward to 1985, Michigan has long moved past the rural cities of the 1800's and into affluent suburbs and cities. The size and taxation pools of cities have greatly changed from 1809 to 1985, but the way schools were funded remained exactly the same. This lack of change led to a large disparity in school funding from richer districts to poorer districts. Coupled together with local governments' inability to convince citizens to vote in favor of millages and tax hikes, the disparity ballooned. In 1993, Bloomfield Hills ranked in the 99th percentile of Michigan schools, was spending on average $10,294 per–student, while Standish Sterling ranked in the bottom 1st percentile, spent $3,738 per–student, roughly a $6,500 difference per–student (Roy 2003). This inconsistency greatly disadvantaged students all the way to 95th percentile, where there ... Get more on HelpWriting.net ...
  • 5. Rhetorical Analysis Of Gentrification Selena Gaddis English 101 Section 28 Professor Zhuravlyova Rhetorical Analysis 27 October 2014 Modern Gentrification In the constantly changing economy of cities, the growth of city housing is oftentimes neglected. In "Cities Mobilize to Help Those Threatened by Gentrification" Timothy Williams recounts how gentrification has evolved over the years. Mentioning how cities have changed in order to appease the younger professionals, Williams shows how the city itself is in jeopardy due to the tax increases. Slowly loosing their faithful residents as well as historic culture cities face a big deal. Williams gives quotes from faithful residents, "...long time homeowners are victims of the success story", (Williams 346). In "Cities Mobilize to Help Those Threatened by Gentrification", Williams uses his credible quotes and modern statistics to generate the reader's emotions, with desire to change how city officials go about gentrification in culturally infused cities. Williams starts his article by describing how cities work to bring in younger professionals who are looking for housing in the city, as well as the impact the new housing is affecting the working and ... Show more content on Helpwriting.net ... Williams' provides another quote, Rene Goodwin, a resident who has grown up in the city, " To keep an urban are vital, there has to be an infusion of new people and buildings, but that doesn't mean you destroy people who have kept up the neighborhood, who've swept the sidewalk", she states. Gentrification does not always have to be in with the new and out with the old. "It's that commitment that has made developers interested in the neighborhood and then you're going to penalize the people who have stayed? " Goodwin continues. Williams' also adds that city officials need to congratulate and thank the longtime faithful residents who have been with the ... Get more on HelpWriting.net ...
  • 6. Real Property Tax Assessment This is the first in a series of articles written to inform the real property taxpayer how to appeal your property tax assessment. Drawing upon my many years of experience in both the private and public sector property tax business, I have written this article in general terms that apply to the many states and counties in the US, and focused it on what everyone needs to know should you want to appeal your property tax value. Fair Market Value All states base their assessed value on fair market value (also referred to as "market value"), or a defined percentage of fair market value (here in GA we are assessed at 40% of the fair market value estimate). The Appraisal Institute has defined market value as: The most probably price, as of a specific ... Show more content on Helpwriting.net ... 2. Sales Comparison Approach...estimates a property's value (or some other characteristic, such as its depreciation) by reference to comparable sales. This approach, like the name implies, entails comparing your property to the sale of comparable properties in your market area. Adjusting for differences (such as numbers of bathrooms) by adding (or subtracting) the approximate value of the differences to the sale price, you can get an indication of what your property might sell for. 3. Income Approach...uses capitalization to convert the anticipated benefits of the ownership of property into an estimate of present value. This approach is rarely (I'm guessing never) used by taxing jurisdictions to appraise single family residential property. Larger metropolitan counties with a lot of market data use this approach to value commercial properties. Essentially the income approach takes the potential rental income of your property, deducts for anticipated operating expenses, and applies a capitalization rate to the left–over net operating income (NOI). The capitalization rate is derived from market data showing what multiple of NOI investors are paying for similar ... Get more on HelpWriting.net ...
  • 7. Prince Georges County: Country Analysis CAFR ANALYSIS PRINCE GEORGE'S COUNTY I have seen many changes growing up in Prince Georges County (PG), a minority–dominated county in Maryland. The government has spent a massive amount of money to revitalize the county. This includes the $250.5 million transformation of Jack Kent Cooke Stadium (now FedEx Field) and the massive $2 billion National Harbor project in Oxon Hill, MD[i]. There are rumors the county plans to rename the crime–infested city of Landover, where I currently live, to Hyattsville, a neighboring city, predicting that this will ease the bad repetition of this area. However, these renovations and changes are only temporary solutions since they are only masking the problems that put my home county deeper in ... Show more content on Helpwriting.net ... DEEP carries a low balance of expenditures totaling $567 to public safety with no expenditures within the general government, public welfare and debt service accounts. However, PMS, DV, and CC all carry expenditures. PMS has the balance of $150,572 in the general government expenditures sector and DV has the balance of $303,401 in the public welfare sector. CC has a deficit expenditure of $5,000 in general government despite not having any revenues for this fiscal year. Finally, DEEP started with beginning year fund balance of $4,866,750 and ending year fund balance of $6,971,225, which shows the fund, has increased more than $2 million. The other three program funds have decreased. Despite substantial support of DEEP by the state, it is mindboggling the crime rates continue to soar. According to the PG Police Department, between the years of 2000 to 2004, PG has had an increase of 23.1% in total crime. In addition, the county has a 62.8% increase in total crime between 1984 and 2004 relating to drugs and other illegal paraphernalia[iii]. These alarming statistics has lead many to conclude that program funding is being distributed and executed improperly. The pension fund has a great deficit when comparing assets and liabilities. The total number of tax delinquencies has nearly tripled compared with prior years. According to the Schedule of Funding Progress (Sch. Of FP,) the county has outstanding pension liability of $762,335,239[iv]. These pension ... Get more on HelpWriting.net ...
  • 8. Types Of Proprietary Funds Or General Fund Vance County Addition to the Governmental Funds or General Fund Vance County has one type Proprietary Funds– Enterprise Funds which are used to report the same functions presented as business–type activities in the government–wide financial statements. The County uses enterprise funds to account for its water activity and for its solid waste management operations (Department, June 30, 2015). The County's proprietary funds provide the same type of information found in the government–wide statements but in more detail. Total net position of the Solid Waste Fund at the end of the fiscal year was $751,736, and for the Water Fund equaled $1,662,088. The change in net position before prior period adjustments for the Solid Waste Fund was $20,513 while the change in net position before prior period adjustments for the Water Fund was $1,610,863 (Department, June 30, 2015). Granville County has two types of Proprietary Funds Enterprise Fund which is very similar to Vance Countyexcept in Granville County their unrestricted net position of the Solid Waste Fund equaled $(7,658,465) (Department, June 30, 2015). The total net position for all proprietary funds is $(1,948,415). The total change in net position for the proprietary funds was a decrease of $103,579 (Department, June 30, 2015). This change in net position primarily results from decreased non–current liabilities for post closure care costs resulting from legislative changes and increased personnel costs. Granville County's second ... Get more on HelpWriting.net ...
  • 9. The Meeting I Attended Was The City Of St. Augustine 's... 1.The meeting I attended was the city of St. Augustine's special meeting to establish the city's fiscal budget and millage rate for the year. It took place on September 22nd, at 5:05pm. The city of St. Augustine holds its city commission meetings every second and fourth Monday of the month at Alcazar Room in City Hall, which is located at 75 King Street, St. Augustine, FL. This meeting's purpose was to establish the millage rate for the city and how to allocate those funds into a set budget for the upcoming year. The new millage rate of 7.500 mills was approved for the fiscal year of 2016–2017, which is an increase of 5.47% from last year, in addition to a new budget for the upcoming year. 2.All of the city commissioners were present for the meeting, they include: Todd Neville, Nancy Sikes–Kline, Leanna Freeman, Mayor, Nancy Shaver, and Vice Mayor, Roxanne Horvath. At the meeting just about every type of group was represented, city residents of St. Augustine, business owners, special interested groups, in particular the Clean Up the City of St. Augustine initiative represented by Ed Salvin, and even a local Neighborhood Association represented by its president Susan Rathbone was present. Almost all of the individuals I mentioned attended the meeting to voice their belief that there should be an increase in the budget for improvement of local roads. 3.The meeting I attended did offer an agenda but did not name a chairperson. When the call to order was issued, there was ... Get more on HelpWriting.net ...
  • 10. Read Savage Inequalities by Jonathan Kozol TARA BURKE FIELD DAY # 1 11/27/12 CHOICE # 1 Revised Read Savage Inequalities by Jonathan Kozol. Kozol examines the inequities in school financing between Urban and suburban schools, Chapter 3 (2 points) In 1964, the author, Jonathan Kozol, is a young man who works as a teacher. Like many others at the time, the grade school where he teaches is segregated (teaching only non–white students), understaffed, and in poor physical condition. Kozol... Show more content on Helpwriting.net ... Richer homeowners also get tax relief for paying their mortgages. Meanwhile, poor black areas are dumping grounds for toxic waste and garbage, which benefit the wealthier citizens, but they tend to be the only places poor non–whites can afford to live. Low properrty values result in badly funded, dangerous schools. Wealthier whites avoid these public schools and move to suburbs where their property taxes go toward building elegant public schools. Trier school is an example. It attracts a highly trained staff, and boasts an Olympic swimming pool as well as other luxuries. An article about this suburban school brags that most of the students in it are white. Kozol says that magnet schools (special public schools built for the most talented students) seem like a good idea, but are also unfair. The inner city disadvantaged non–white students usually don't provide head start programs or educated parents who can help them push for admittance. Students of magnet schools are mostly white. Disadvantaged students watch television and know they are being treated like something less than human. This is savagely cruel. In the next area, New York, Kozol sees the same pattern of filth, indifference and degradation. The difference between money spent in ... Get more on HelpWriting.net ...
  • 11. Essay On Property Tax The XYZ report projects that by XYZ, xyz of the world would live in an urban area one in every XYZ Americans would live in an urban area. The population of Americans that live in urban areas (add definition) has risen from XX in 20xx to YY in 20yy. (–– removed HTML ––) As of 2008, America's local governments spent about one–eighth of USA's national gross domestic product (GDP), one–fourth of total government spending, and employ over 14 million people (Glaeser). As of 2011, there are 89,000 local governments, 13,000 school districts and 37,381 special districts. A local body relies on three major sources of revenue – property tax, intergovernmental transfers and user charges or fees. Property tax accounts for one of the largest revenue ... Show more content on Helpwriting.net ... They attribute the sharp decline between 1977 and 1985 to the various tax limitations introduced in several states at the time. A detailed analysis by quintiles also revealed a significant stickiness in the share of property tax values. Property Tax: A theoretical model Factor mobility is a key factor for local bodies. Charles Tiebout in his seminal 1956 article put forth a model where local bodies compete in the provision of public services. He considers a city resident who wishes to move to the suburbs, 'a consumer–voter', who selects a community that best reflects and satisfies his preferences for public goods. Given that local governments have set patterns of expenditure and revenue, the greater the number of local governments, the closer the consumer–voter may find his preferences represented. Tiebout's model is based on the following assumptions: perfect mobility of consumer–voters; their perfect knowledge of differences between revenue and expenditure patterns and the ability to react to these differences; many communities to choose from in which to live; no employment restrictions as all consumer–voters live on dividend income and no external economies or diseconomies in the provision of public goods between communities. Additionally, he also defines an optimum level of community services i.e. the number of residents for whom the bundle of services can be produced at the lowest average cost. The relevance of this assumption ... Get more on HelpWriting.net ...
  • 12. Property Tax Statement Family lawyers do not always know all the legalities of splitting up assets and liabilities when calculating marital property. It is in your best interest to do some of the homework yourself and be aware of the pitfalls and opportunities. Plus, doing some of the work yourself will save some money you might have paid to your lawyer for doing the same thing. If you are in the midst of an emotional divorce, you tend to overlook key financial decisions. Rather than leaving all the financial details to your family lawyer, you need to get involved, no matter how painful. CHECK YOUR HOME'S APPRAISED VALUE Look at your Property Tax Statement to find your home's assessment value within your county. If you do not have your Property Tax Statement, filed... Show more content on Helpwriting.net ... This completely different than a down payment. Many people will become confused when their Realtor asks how much of an earnest money deposit they'd like to offer. Lets examine the importance of an earnest money check, where it goes and who it belongs to. When you write an offer on a piece of real estate, it's important to accompany it with proof that you are serious about buying the home. The seller will oftentimes take the amount of earnest money provided into consideration when deciding on whether or not to accept your offer. The check will typically not be written directly to the sellers. Actually, it's a bad idea to do so. The money should be held in escrow and is typically written to the real estate company the buyer's agent works for. Sometimes, the seller will require it to be written to their agent's company. Either way, it is held in escrow not belonging to either party until the sale of the property is executed. The money then gets released to the lender and is credited to the buyers upon the sale of the home. In the event that the buyers decide not to go ahead and purchase the home, the money will be released to the sellers and the home will go back on the market. Basically, the earnest money deters the buyers from walking away from the purchase for no good reason. When the sellers accept a contract on their home, they are not legally allowed to accept another offer. This money acts as "insurance" for the sellers, making them feel comfortable about accepting the offer knowing the buyers are serious and will lose the money if they decide against going through with the sale. Accepting an offer not accompanied by an earnest money check is somewhat foolish. The buyers can walk away with no penalty and the seller's home can be stuck in limbo for a period of time, not able to put it back on the market due to the original contract without earnest money. I have ... Get more on HelpWriting.net ...
  • 13. The Pros And Cons Of Gentrification Gentrification: Does the Good Outweigh the Bad? A study by The Urban Institute describes gentrification as "a process whereby higher–income households move into low income neighborhoods, escalating the area's property values to the point that displacement occurs." Gentrification generally takes place in deteriorating urban or rural areas. The purpose of gentrification is to take struggling neighborhoods and stabilize them by increasing property value. Naturally the system isn't perfect, as it has the side effect of displacement, which can cause some people to have to move to a different location, but overall gentrification is much more beneficial than destructive on a large scale. All neighborhoods have to be improved eventually. Gentrification is simply the most effective way of doing it. Although there are some negatives associated with Gentrification, in the long run it succeeds in creating a better place for people to live, and the pros far outweigh the cons. The purpose of gentrification is to take struggling neighborhoods and stabilize them by investing in the neighborhood. Gentrification is "the rehabilitation and settlement of decaying urban areas by middle– and high–income investors." (The Columbia Encyclopedia). These investors raise the value of the neighborhood by improving facilities and making the neighborhood look better. This doesn't always benefit everyone since some citizens get displaced. However, the number of people displaced is very minor in ... Get more on HelpWriting.net ...
  • 14. Property Tax and Management Property Tax & Management Q.1 The tenant must comply with various rules set out in law and by the landlord in order to exercise a break clause in the lease in the future, some of the main elements are outlined below: – The tenant must adhere to the duration of the lease and the timeframe that it occupies in order to exercise a break in the lease without complication. If the tenant overstayed the agreed timeframe the landlord would have provision to make a case and bring it before the courts. – The extent of the liability imposed on the tenant, whether the lease terms are confined to just the lease payments or whether the tenant is also responsible for repair/maintenance etc. Failure to carry out repairs and/or maintenance would negatively impact on the tenants ability to exercise a break clause in the future. – Where the Landlord applies for planning permission resulting in the structure of the building being altered causing possible obstruction trading this would give the tenant an opportunity to negotiate a break in the lease due to the fact it is impacting negatively on their business. In Ireland there was a case which is currently still unresolved between Dennis O'Brien and BT Communications where a number of complications arose, conditions of ecercise of the break clause in the lease included a 12 month notice of exercise of the break along with payment of damages to the amount of 6 months rent on the date the break is exercised. ... Get more on HelpWriting.net ...
  • 15. San Antonio School District Vs. Rodriquez Essay example San Antonio School District Vs. Rodriquez Rodriquez was started by parents whose children attended elementary and secondary schools in the Edgewood Indecent School District. About 90% of the students were Mexican American and 6% were African American. In Rodriquez, the Plaintiff's brought a class action on behalf of school children who were members of poor families who reside in school districts having a low property tax base. They claimed that the school's confidence on local property taxation favors the more well off and violates equal protection requirements. The Supreme Court examined the Texasschool finance structure and rejected this claim. They ruled that education was not a fundamental right under the Federal Constitution and ... Show more content on Helpwriting.net ... This meaning that the poorer the people within the neighbor the poorer the school districts will be. Although this case shed some light, it failed under the federal Equal Protection analysis because education was not a "fundamental right" recognized by the Constitution and because the educationally disadvantaged poor did not constitute a "suspect classification." The Court refused to overturn the school finance system on grounds of inequality. Equally notable, this case "virtually abdicated any role for the federal courts in guaranteeing educational rights under the Federal Constitution," leaving future plaintiffs "to state courts and constitutions for the change they seek (www.schoolfunding.com)." One con to this case was that even under independent state equal protection analysis, state courts are still responding as did the U.S. Supreme Court: "the existence of 'some inequality' .. is not alone a sufficient basis for striking down the entire system." This reluctance to require equality marks the majority of all state decisions, as it did in the federal equal protection field. Nonetheless, plaintiffs continue the traditional equality arguments (Verstegen, 1998). Education should not be denied because of financial reasons. Children shouldn't be denied an education because of their "wealth status"; they should be guaranteed an equal, fair education. References Brimely, V and Garfield, R. (2005). Financing Education in a Climate of Change (9thed.) Boston, MA: Ally ... Get more on HelpWriting.net ...
  • 16. The Tax Impact When Renting Your Property. Renting Your The Tax Impact When Renting Your Property Renting your home and becoming a landlord also has some handsome tax perks. Rental income is taxed as ordinary income and your taxes could be largely eliminated with the numerous deductions on expenses and depreciation. Please note the there is on major tax rule that may mitigate this benefit. If the house is eventually sold and you qualify for a capital–gains tax exemption discussed earlier, you 'll be taxed on the amount you depreciate, which would make renting out your home considerably less attractive than selling. With respect to expenses, you can deduct almost any out–of–pocket expenses related to owning and managing the home including property taxes, mortgage interest payments, advertising ... Show more content on Helpwriting.net ... In reality, for most homeowners, renting out a home is not an option for them. The sale of their home is necessary in order to put down a downpayment for their next home. Many homeowners only have enough capital to purchase one home, let alone 2 homes. There is a capital reserve required when renting properties. Tenants come and go and the homeowner has to pay the mortgage payments on the rental property regardless of whether or not he has paying tenants at the time. These are valid risks to consider when deciding to rent your property. When renting a property, there is also the risk that a tenant could damage the property or cause other issues that would lead to an expensive eviction process. In most states, the legal process to carry out an eviction could cost up to $5,000 and the process could take 1 to 2 years to ... Get more on HelpWriting.net ...
  • 17. What Are The Divisions In The City Of Bend, Oregon Government The City of Bend, Oregon Government consists of approximately 500 employees across thirteen different divisions. These divisions are Police, Fire, Community Development, Public Works, etc and are all coordinated under the City Manager's office. Bend's government style is called a "weak mayor" form of city government, in that the citizens elect a city council, which then elects a mayor from among the council members. The city council and mayor, then hire a City Manager to run the day to day operations of the city. In doing this form of government, the City Manager is not directly accountable to the citizens and can focus on the needs of the city and its employees. At the same time, the City Council can only provide direction to the city manager and is accountable to the citizens. The city employees in this case are led by the city manager as directed by city council. The community leadership environment in this case is established by council to provide direction to the city manager. For the Organizational Assessment provide for this module I used information and experience provided to me during the course of my... Show more content on Helpwriting.net ... First, leadership training opportunities are provided quarterly though our local community college. COCC (Central Oregon Community College) has partnered with both Deschutes County as well as the City of Bend to provide a leadership class four times per year. As an employee, I receive emails for these programs, with associated fees, multiple times per month. The classes are not limited to public employees, and are sent to the cities NGOs as well. As an employee of the city, if I wish to participate in one of the classes, the city will pay for it. In addition to funding leadership training for its employee, the city also provides funding for two NGOs which I see as strengths of the ... Get more on HelpWriting.net ...
  • 18. Poverty Reflection have a student named LaDashe who comes to school late everyday and the days she not late she is absent. When she comes to school she usually puts her head on a desk and sleeps or her behavior is causing disruption in the classroom. We were informed late in the year that she was homeless and living in a shelter with her mother and three siblings.. So that explains a lot of what was going on with LaDashe. We were also informed that LaDashe mother was a student of the school her daughter was attending as well,like mother like daughter had exhibited some of the same behavior as LaDashe. In my Urban Leadership class we talked about never ending cycles. LaDashe and her mother is an example of never ending cycle that is definitely repeating itself. LaDashe and her mother are types of people stuck in poverty from one generation to the next generation. I worked with a teacher who said," poverty is a choice" We got in someone of discussion regarding his words. After, taken the course Urban Leadership I often relate back to his words. I know poverty is not a choice however, some are born into poverty and remain a lifetime. In my Urban Leadership course one reason for poverty is the lack of education. If we could give everyone a fair and equal education we could hopefully wipe out poverty. We need to get all of politicians, community , teachers, and parents all on the same page t help our low income students. A way to help our low achieving students is to designate the funds so all schools receive accurate funds necessary to help all students succeed. Property Tax Our class discussion on affluent towns that pay less taxes than less affluent towns. In class we talked how towns like Greenwich CT. mill rate is .11 much less than Bridgeport a town in much need of funds which has a higher mill rate of.25. We talked about the difference in tax each town pays per year. Bridgeport mill rate is about 2.3 times more than Greenwich. In , a 1 million dollar home tax each year is about 11thousand, whereas, a 1 million dollar home tax in Bridgeport is 25 thousand. Bridgeport tax is so much higher than a lot of affluent towns, the Bridgeport schools academically should be performing much ... Get more on HelpWriting.net ...
  • 19. St. Peterville City Case Study 1.The meeting I attended was the city of St. Augustine's special meeting to establish the city's fiscal budget and millage rate for the upcoming year. It took place on September 22nd, at 5:05pm. The city of St. Augustine holds its city commission meetings every second and fourth Monday of the month in the Alcazar Room at City Hall, which is located at 75 King Street, St. Augustine, Florida. The meeting's purpose was to establish the millage rate for the city and how allocate those funds into budget for next year. The new millage rate of 7.500 mills was approved for the fiscal year of 2016–2017, which is an increase of 5.47% from last year. Additionally, a new budget for the upcoming year was also approved. 2.All of the city commissioners ... Show more content on Helpwriting.net ... The first concept illustrated by this meeting was the concept of effective management and planning covered in module 6. By the accounts of residents, it is clear that the city has not been effective in previous years, in planning the restoration and preservation of local roads. The city has not been proactive in planning which streets should be repaired, when, or to what those repairs should be. A common complaint of residents was that the city appeared to be content on postponing repairs when it would be more convenient and cost–effective to handle the situation as soon as possible. I believe St. Augustine should practice a more adaptive style of management and respond to changing conditions. From listening to the meeting, it seems that the city originally underestimated the problems plaguing their roads and decided that certain areas could stand to wait for repairs. From the accounts of citizens, it is clear that philosophy is not going to stand anymore. In my opinion, I think the city needs to be more proactive and handle the deteriorating condition of their roads a lot sooner than later, and at the very least re–evaluate old plans. The second concept demonstrated was collective action. Collective action is defined as a coordinated effort of several individuals or groups, who cooperate to accomplish specific goals. What was originally just a basic meeting to approve a budget quickly turned into a discussion on a major public issue due to the words of several speakers. ... Get more on HelpWriting.net ...
  • 20. Finance And Budget Text Questions Essay Finance and Budget Text Question The current issues regarding education finance and funding is the lack there of. Money is the top issue. The financial crisis which Texas faces has recently arrived in the hands of the Texas Supreme Court, which now holds a lawsuit filed by approximately 600 school districts. The lawsuit aims to decide whether the current Texas school funding system violates the state constitution (Smith, 2015). The breakdown to the finance shortfall stems from the state not having enough money to fund public education at the current levels without increasing taxes, which many legislators vow not to do. In recent years, the Texas Legislature reduced property taxes and increased the business and cigarette tax, but the changes were not able to off–set the funds lost (Wirth, 2013). Educational funding then took another hit when $5 billion was cut from public education in 2011. School programs and resources are dependent on the dollars received from the state. As enrollment in Texas schools continues to grow and property tax revenues begin to fall, the budget crisis in Texas is growing and not getting any better (Smith, 2015). Recently, the 84th Legislature approved and passed the state budget bill for the 2016–2017 Biennium. House Bill 1 appropriates $209.4 billion in total spending and passed bills which allows increasing homestead exemption on school district property taxes resulting in a $1.2 billion tax break for Texas homeowners, and reducing the ... Get more on HelpWriting.net ...
  • 21. New York Property Tax Case Study The New York property tax problem has grown out of hand and now threatens the state's economic growth. If New York wants to attract more businesses and residents to capitalize on the full potential the state's new casinos will offer the state economically, it must reduce its overall tax burden. By reducing their sky–high property taxes, it can lower some of the pressure placed on the state's equally high income tax rates. Working to fulfill his campaign promise from 2011, New York's Governor Andrew Cuomo proposed a $1.7 billion plan to reduce the amount New Yorkers pay in income tax each year as well as reform the problematic state revenue source in January. The Sky–High New York Property Tax All of New York's tax rates are high (and confusing). ... Get more on HelpWriting.net ...
  • 22. The Negative Effects Of Gentrification Gentrification: Is it good or bad? The root meaning behind the word gentrification comes from the Old French word "genterise" meaning "people of gentle birth". However, in the modern day, gentrification can be defined in multiple ways such as "the process of renovating and improving a house or district so that it conforms to middle–class taste" or "the process of wealthier residents moving to an area, and the changes that occur due to the influx of wealth". In simple terms, the concept behind gentrification refer to the change which a community goes from low value to high value, however the effects of gentrification are far more complex. The positive impacts of gentrification includes higher wages due to the boost of economy in the given area, more tax revenues, and lower crime rates. The other end of the impacts of gentrification spectrum include the displacement of long term residents and businesses due to higher rents, property values, mortgages, and property taxes, as well as shifting of the community's culture and characteristics. Gentrification has been a controversial topic and it has a significant impact on the social, economic and demographic changes in the communities specifically in the modern day today. This raises the question of, is gentrification good or a bad? The basic causations of gentrification can be explained in three basic categories: the supply–side factor, demand–side factor, and policy factors. The supply–side factor theory entails the various ... Get more on HelpWriting.net ...
  • 23. Project Report On Budget Budgeting Essay Projected Budgeting In this week's assignment paper, I am a manager of a property management and I am to draft a memo to my employees to hand in a projected budget for the upcoming year. A budget is a "financial plan to control future operations and results", to improve future performances and attain a profit goal (Shim & Siegel, 2011). In order to create a great budget and get the best results you must eliminate budget weaknesses such as unrealistic figures and different methods of preparing budget (Shim & Siegel, 2011). In my memo, I am asking my employees for a short–term, annual projected budget for the upcoming year. My goal is to make sure that my employees ' projected budget does now show weaknesses that will cause drastic changes to operations and results by making sure their budget is realistic and does not go over budget cost. Even though a projected budgeting is a forecast, it should be realistic and should consider what–if scenarios of both intrinsic and extrinsic factors to the budget. Because I want a realistic projected budget, I expect my employees to explain in their projected budget how they got their numbers and provide resources (Shim & Siegel, 2011). I want my employees to use previous projected and actual budgets to come up with the upcoming years projected budget as a resource do a thorough research to make sure their data are accurate and as realistic as it can be and have facts to defend the data figure. I would also like my employees to consider ... Get more on HelpWriting.net ...
  • 24. Public School Of Public Schools In 2003, Wellesley accepted the provisions of Massachusetts General Law, Chapter 60 Section 3D which authorizes volunteer contributions by citizens to a Tax Relief Fund to help offset tax obligation for elderly or disabled individuals. Town's Taxation Fund Committee establishes the rules and regulations and donations of any amount over $1.00 is accepted. The solicitation was virtually non–existent and the town has received zero donation from the community that it is considered a failed policy. On the contrary, Wellesley Educational Fund (WEF) continues to solicit donations from all residents including empty nesters. The fund collects a sizable combined donation every year. Their mission statement states the fund is used "to enhance, enrich and maintain educational excellence and foster innovation in the Wellesley Public Schools" (WEF.org., 2016). Wellesley public school teachers were among the highest paid in 2015 with an average salary of $90,041 (doe.mass.gov., 2016), and it is always good to remember where the source of money comes from. In addition, WEF awards grant to excellent teachers. Policies, Suggestions, and Recommendations to Be Considered Massachusetts's property tax relief programs are designed to help low–income elders and disabled citizens off–set the burden of real estate tax bills. The current eligibility brackets are standard for all cities and towns in Massachusetts without much consideration given to the average estate values in each town they ... Get more on HelpWriting.net ...
  • 25. The Ambivalence of Direct Democracy Essay The California Constitution states, "All political power is inherent in the people. Government is instituted for their protection, security, and benefit, and they have the right to alter or reform it when the public good may require." (CA Const. art. 2, sect. 1) Indeed, the age–old maxim that the government is for the people is evident in California's Constitution, and the inception of direct democracy by the early 20th century Progressive movement follows this ideology. The 2nd article of California's constitution includes three forms of direct democracy: the initiative, referendum, and recall. Respectively, these forms of direct democracy grant electors the power to propose statutes and amendments, adopt or reject statutes and ... Show more content on Helpwriting.net ... Direct democracy's initiative sounds appealing in theory, but realistically, history has shown that the average voter is incapable of truly assessing the effects and repercussions of these ballot proposals. This is clearly exemplified by Proposition 13, an initiative that, as author Isaac Martin states, became a "nationwide symbol of tax revolt" (Martin). Proposition 13 essentially set the property tax rate to 1% and stated that the assessed value of homes could not exceed the 1975–76 assessed value. This reduced taxes by about 57% (californiataxdata.com), a truly drastic decrease, which translates to a loss of $7 billion in property taxes during the 1978–79 fiscal year (McCaffery & Bowman, 530). Consequently, Proposition 13 led to intense repercussions; the huge decreases in finances forced local agencies to look for funding elsewhere, and severe cuts were made. The Los Angeles Times conducted a survey of 70 southern school districts and found that two–thirds of them had eliminated or sharply curtailed summer school. Also, Long Beach school sent layoff notices to nearly half of its staff of teachers, and by June 28th there was a total of 3,252 estimated layoffs with 165,000 imminent layoffs. The repercussions continued, with prices escalating to cover the decline of financing. And ironically, ... Get more on HelpWriting.net ...
  • 26. Debt Refinancing Reflection property–taxes The Octorara Board of Directors and Finance Committee met on Monday, September 19, 2016. All Board members were in attendance. Debt Refinancing This is a wonderful opportunity to remind people if all you do is either attend the Board Meetings (the 3 or 4 of you) or watch the videos, you are missing 95% of the discussions and information. Yes, Mr. Ganow did mention the Debt Refinancing in the Facilities Committee Report, but you received very little of the information detail. This is why I have repeatedly asked that we start broadcasting Committee Meetings and posting the minutes online. What could it hurt? But, I digress... The Committee received a Debt Service Presentation from Ken Phillips and Rhonda Lord of RCB Capital ... Show more content on Helpwriting.net ... How did that work? In reality, it only accelerated our financial problems. One thing we must keep in mind, a 3.2 percent property tax increase does not cover a 3.2 percent budget increase. A 3.2 percent budget increase adds more than $1.66 million in costs and a 3.2 percent property tax increase will likely raise only roughly $1 million of additional revenue. This is because a large portion of our revenue comes from other sources like the State and Federal governments. Property taxes are the largest portion of our revenue, but it is significantly short the cost of the budget, So, expect to add an additional $600K deficit to the carried over deficit from last year. Ok, sure, nothing has been decided. However, there are only so many viable paths here. So, you can choose to listen to those who hide behind the process or you can take an active roll, pay attention, and make your voice ... Get more on HelpWriting.net ...
  • 27. Motivational Motivation The purpose of this study is to examine the underlying reasons an employee is motivated to function at his or her best. I am currently employed at the Erie County Board of Developmental Disabilities (ECBDD). It is a public local governmental agency charged with providing support to individuals with disabilities who qualify for services. The agency is funded through tax dollars at the local, state and federal level. The annual operating budget is approximately $8,000,000, and seventy percent of these dollars are collected through local property taxes. The agency employs approximately fifty people that fall within three departments. One of the departments is comprised of Service and Support Administrators (SSAs). The primary role of ... Show more content on Helpwriting.net ... Currently, the SSAs are producing at an average of 65 percent of their time per month. They are not meeting the 75 percent monthly productivity rate that has been established by the ECBDD. There is a tangible cost to the agency due to the low productivity rates. The county board has the potential to generate an additional $2,496,000 to $3,321,600 in revenue each year though TCM billable units. This is significant for a non–profit agency that relies heavily on local property tax dollars for funding. Because of this disengagement and lack of productivity, the board of directors are not willing to approve addition positions for future SSAs until additional dollars are being generated through the TCM process. Therefore caseloads will go up, SSAs are becoming frustrated and individuals with disabilities may go without services. "What people think, feel and do, in and around organizations is important for the organizations financial health, survival, and success" (McShane &Von Glinow, 2012, p. 6). "There is a long–term negative productivity development trend, where public employees perform less and less but successfully demand more and more in salaries" (Lane, 2000, p. 42). This has historically been the case. SSAs would receive a 2 to 3 percent increase in salary each year. However, today, any increase in salary is tied to performance and productivity. If they do not achieve the expected 75 percent ... Get more on HelpWriting.net ...
  • 28. Lack of Education Funding Essay Within the federal government's budget education is among the most important yet in the year of 2012 the federal government only spent $107.6 billion out of 3.7 trillion which amounts to 3% on education. Compared to other funding categories in the government's fiscal year of 2012's budget it's clear to see that education isn't as important to the government officials as they would like us to believe. Many Americans today are lead to believe that education is important to government officials and it receives an adequate amount of funding because they don't know how much funding is put into the other categories of the budget. The funding put into education in the year 2012 is only 1/8 of social security spending and 1/5 of Medicare... Show more content on Helpwriting.net ... Results taken from the executive summary of the Education Law Center in New Jersey show that a small percentage of states who have funding systems put in place and provide greater funding to high poverty districts remain the most progressive states yearly. Whereas a larger percentage of states have funding systems where districts with higher poverty rates receive less funding, these states remain the most regressive. (School funding disparities persist, analysis shows). The sad reality of it all is that gross funding inequities continue to persist in the U.S and no one seems to be working steadily to rid this problem. When putting funding into education equity should be focused on rather than equality. According to the National Report card there are core fairness principles that must be followed to maintain equal opportunity. The 3rd principle states that the level of funding in a district should increase relative to the level of concentrated student poverty rate. Therefore state finance systems should provide more funding to districts serving larger share of students in poverty (Is School Funding Fair? 7). Examining the school district of Philadelphia one could see that this principle is not being followed. The No Child Left Behind Act was created in 2001 to ensure that no later than 12 years after 2001 (2013) all students will meet the states standards. The act ... Get more on HelpWriting.net ...
  • 29. The Importance Of Property Tax In America Your Property May be Worth More Than you Think The American suburban neighborhoods; a symbol of true social euphoria. Well off suburbs with adequate parks, consistently maintained streets, and up to par public facilities. Yet most important, residents who generally share the same tax bracket, whose funds support everything from streets, facilities, and the public schools around them. Furthermore, well off neighborhoods, contribute a larger amount of funds to their local public schools through their local property taxes than public schools of the less advantaged. It was this structure of localized funding that purported economic discrimination. As pointed out by John Yinger in the text, Helping Children Left Behind; " The Supreme Court ... Show more content on Helpwriting.net ... Allowing this to become a nationwide issue of social justice, which is taking place in the education financial system. However, there are too many discrepancies being ignored by the general public on the nature of local property taxes and their role in public education. Therefore, using local funds to support local schools of each designated district, allows for educational discrimination. Thus, it would seem utmost important to the future of public education, in relation to funding, to end local taxing that goes into the funding of school. Instead, public school funding should derive from the federal income tax funds, to ensure every student who attends public education institutions to receive the same amount of funds which are to be invested in their academic career. An idea also shared with Brian Wilson, author of the article,"Raising Taxes for Education Is Not the Answer," as Wilson states; " When money is short, leaders must raise taxes or create new ones to make up for what they perceive as lost revenue. However, government should always resist the creation of a new tax unless it replaces one that has been abolished"(Wilson,p.11). It simply would not seem fair to increase federal tax for all just to help fund public schooling, considering that is the general purpose for local property tax. That is why, it would seem most indispensable to remove local property taxes. The majority of these funds go to maintaining and or upgrading public facilities, as ... Get more on HelpWriting.net ...
  • 30. Analysis Of The Article ' The American Ideal ' Vasi Papadopulos Mr. Lofaro 20 American History September 28, 2015 The American Ideal As expressed in the constitution, the United States has not lived up to the ideal of equality. Economic inequality has surged into a greater issue over the past several years. Gender inequality is something that has began to reduce in the US ever since the 1900s. Even though big changes have been made, gender inequality stills exists in the workplace due to many reasons. Furthermore, ever since colonial times, racism has been a prodigious problem in the United States . Examples of racial inequality includes poverty and education, as a result, racial inequality has become an obstacle America has been facing all throughout our history First, economic ... Show more content on Helpwriting.net ... Subsequently, even though big changes have been made, gender inequality stills exists in the workplace. In the United States, the percent of women engaged in the workforce is falling behind other western countries. The United States ranked 22nd best in terms of gender equality out of 135 countries. Researchers say that that the United States is falling behind due to the lack of business and social support for working women. In addition to this, the United States is the only industrialized nation that does not have paid parental leave. Moreover, in an Huffington post article, Katy Hall found that as a result of the Family Medical Leave act of 1993, new parents are guaranteed their jobs twelve weeks after their baby is due. This act does not require the company to give fully paid maternity leave. Unpaid parental leave could make a woman not want to work since if she does it would be harder for her to start a family. Hence, this makes it harder for women to work. If a woman is not having paid maternity leave, then this will cause her to have problems when trying to provide for her child if she does decide to have one. Moreover, a study directed by researchers at San Fernando Valley State College said that " when an individual with a PhD applies for a position at a university, that individual is significantly more likely to be offered a higher level ... Get more on HelpWriting.net ...
  • 31. Housing Market and Property Taxes Effect Essay examples During the Great Recession, we have seen property taxes and the housing market bubble decline substantially. During this down turn of housing prices and decrease in taxes we saw a drop in the revenue that is created by property taxes. Property tax helps to pay for a majority of public services but most importantly our K–12th grade education system. It also helps fund parks, police and fire department services as well. During this period of down turn there was not a raise in taxes causing the states to increase spending cuts and to use more federal monies and their rainy day funds. Because of this lack of revenue coming from property tax and housing bubble it caused the local governments budgets to be impacted negatively. By examining how ... Show more content on Helpwriting.net ... Also, there can be planned structural deficit which is where the government decides to invest in the future of the country. For example, investing in job training, higher education, transportation or infrastructure changes throughout the city are all planned structural deficits. These are all investment that will not show an immediate return causing a structural deficit, but one that is planned. California is a good example of how cyclical and structural deficit problems can become a financial crisis in local governments. California has throughout it's time had high economic growth allowing them to get a budget that could expand public service, maintain tax cuts and maintain a high living type of life style. After the Great Recession we see that the downturn of economic production and the use of rainy day funds have crippled the progress they once with keeping a well balanced budget. Because of this, California and other states are facing huge budget gaps that they cannot bring to a close. California has tried to solve its budget problems with tax cuts and one time tactics to curb the problem temporarily. In addition, California has shown trends of having a spending problem and being unable to live within its means. The problem is these quick fixes were only temporary measures. When economic times get rough, policymakers often neglect to make the tough decisions needed to ... Get more on HelpWriting.net ...
  • 32. The Average Property Tax Rate Antonio Gonzalez USP 120 11 FEB 15 Instructor: Jack McGrory Midterm Proposition 13 Before 1978, the average property tax rate for a home in California was at a little less than 3% of the assessed value of a home. There were no limits on annual increases for the tax rate or on the individual 'ad valorem' charges; the taxes based on the assessed value of the property (Stoltman, 2013). During the early seventies the real estate market experienced dramatic growth and there was a rapid escalation in the value of our homes. At this time assessors were required to keep assessed values current. Because of such, property taxes were skyrocketing at a substantial rate. However, increases in the assessed value were not made every year thus resulting in a major tax jolt for homeowners every few years (California Tax Data, 2002). Prior to Proposition 13 local agencies could independently establish their tax rates, and make the total property tax rate composite of the individual rates with only few limitations. It was common in the late 1970's for homeowners to lose their homes due to uncontrolled taxes. Essentially, before Prop. 13 if someone bought a home on a block in the 1950's for $100,000 and someone else bought a home next door to you for $300,000, your property tax would go up because the assessed value of your home would go up with the new sold value, not with the price you paid for your home. This boom of the 70's ultimately gave rise to a tax revolt that would aim to ... Get more on HelpWriting.net ...
  • 33. The Pros And Cons Of School Funding When local property taxes were the primary source of school funding, districts were financially stable and were able to allocate funds for appropriate spendings. With the limitations set on property taxes, school budgets became dependent on the state's fluctuating economy and tax collections. Fortunately, in 1988, Proposition 98 was passed, which set a minimum base funding for public schools. This proposition guaranteed funding that would grow each year with the changing economy along with student enrollment. This funding, though managed by the state was a combination of state General Fund and local property tax revenues. LCFF When the Local Control Funding Formula (LCFF) was adopted by California in 2013, educators were hopeful ... Show more content on Helpwriting.net ... These eight priorities include: student achievement, school climate, basic services, implementation of Common Core standards, student engagement, parental involvement, course access, and other student outcomes (Koppich 2015). Though the LCFF was designed for local control, the state still holds them accountable to meeting these goals. Benefits to the LCFFThough some may believe that the implementation of LCFF is a disservice to districts that may not have as many disadvantaged students or students of EL, others may see that the LCFF model does, in fact, have more benefits than none. Through the LCFF, districts are now required to communicate and collaborate with employees (administrators, teachers, personnel, bargaining groups, students) and the community to develop the LCAP. According to EdSource, it was found that the LCFF has "created an unprecedented level of engagement among school district leaders, community leaders, parents, teachers, and students" (2016). Districts have more control in how to spend these funds that align with what their needs are. As the LCFF purpose was to provide more services/programs for EL Learners, foster youth, and low–income students, we find that this system is not only a district decision, but also a community–based decision. The communities now play a vital role in how allocated fundings are spent. This provides opportunities for ... Get more on HelpWriting.net ...
  • 34. Unit 9 Assignment Essay BS100 Business Math Unit 9Assignment Answer the following questions directly on this document. Please bold or highlight your final answer.Where needed, round to the nearest cent. To find payment amounts, you may use Excel, the EZ Calculators app, or the tables in the Chapter if those tables have the needed values. When finding an APR, give an exact value using Excel or the EZ Calculators app. Show work. 1]A cell phone has a purchase price of $299. The phone can be financed by putting $100 down and paying $20.50 a month for 12 months. Find (a) the amount financed, (b) the total monthly payments, and (c) the total finance charge. Total selling price = $299 Down payment = $100 Amount financed = 299–100 = $199 Total monthly payments = ... Show more content on Helpwriting.net ... The down payment is $5,000 and the mortgage will be for 30 years at 5.5%. Find (a) the monthly mortgage payment, and (b) the total cost of interest. Amount borrowed = 90,000–5,000 = $85,000 Amortization payment factor = 5.6779 Amount of loan in thousands = 85 Monthly mortgage payment = 85*5.6779 = $482.62 Total cost of interest = (482.62*360)–85000 = $88,743.20 7]The selling price of a home is $125,000. The down payment is $5,000 and the mortgage will be for 30 years at 7%. Find (a) the monthly mortgage payment, and (b) how the first monthly payment is broken down into interest and principal. Amount borrowed = $120,000 Amortization payment factor = 6.6530 Amount of loan in "000" = 120 Monthly mortgage payment = 6.6530*120 = $798.36
  • 35. $120,000 mortgage has a monthly payment of $798.36 The monthly interest rate = 7/12 = 0.5833%; therefore, in each row below, Monthly interest = Unpaid balance*0.005833 Principal payment = Total payment – monthly interest Month Unpaid Balance Interest payment Principal payment Total payment New balance 1 $120,000 $699.96 $98.4 $798.36 $119,901.60 8]Oprah Winfrey has closed on a 42–acre estate near Santa Barbara, California, for $50,000,000. If Oprah puts 20% down and finances at 7% for 30 years, what would her monthly payment be? Down payment = $10,000,000 Amount borrowed = $40,000,000 ... Get more on HelpWriting.net ...
  • 36. Federal Income Tax, State Tax And Property Tax The concept behind federal income tax, state tax, and property tax is........ The ratification of the sixteenth amendment to the constitution established the federal income tax. The federal income tax is a tax the United States government collects on the wages and income an individual may earn in a year. Each year federal income taxes are collected from millions of Americans based on a progressive taxing formula. The progressive structure of the formula is designed to ensure that each individual no matter their income, pays what is considered a fair taxation rate. If an individual earns more, more taxes are levied against the earned wages and income. States tax their citizens in a similar fashion as the federal government. However, the income tax rates or percentages at the state level are much lower. States also employ a tax that the federal government does not have. This tax is called a sales tax. The tax on goods and services such as clothing, automobiles and dining in at a restaurant is regressive. No matter what the income of an individual, the tax remains the same, unlike a progressive system. There are many states that do not have an income tax. These states get a large proportion of their revenue from sales taxes. States such as California, New York, and Massachusetts, have some of the highest state income tax and sales taxes in the United States.... Show more content on Helpwriting.net ... A county in Texas cannot tax a property in Nevada. The federal government does not levy property taxes, some states do, and all local counties and municipalities do. Homes, land, and buildings are considered property. Not every individual owns property so not everyone pays property ... Get more on HelpWriting.net ...
  • 37. Exploring The Tax Treatment Of Deductions, Losses, Sales... Investing in real estate has become increasingly popular over the last fifty years and has become a common investment vehicle. Although the real estate market has plenty of opportunities for making big gains, buying and owning real estate is a lot more complicated than investing in stocks and bonds. It is pretty common for people using rental property to offset high expenses and provide some cash flow. However, the tax effects on these transactions can be complex and not well understood. This paper is focus on describing the tax treatment of deductions, losses, sales and exchange for real property, especially a mixed–use rental property, where a property is used as a personal residence as well as for rental purpose. 1. Types of Residential Property for tax purpose For tax purpose, there are three types residential property, which are personal use, the mixed–use, and rental use. The deductibility of the expenses and rental losses depend on the categorization of the real property belong to. Therefore, it is important to understand the categorizations. 1) Personal Obviously, if a real estate is used for personal purpose not for rental or business purposes, it is personal use real estate. However, it is still personal use when a taxpayer rents out his or her personal residence less than 15 days during a tax year. Under this situation, the taxpayer is not required to report the rental income and may not deduct any rental expenses other than mortgage interest and property ... Get more on HelpWriting.net ...
  • 38. The Effects Of High Compliance Rate On Municipal City Of... Research Design and Methodology 4.1Introduction The purpose of this study is to find out what are the causes of the high compliance rate in property taxes in the municipal city of Portmore, Jamaica. Taxes are of essential importance to small developing countries as they do not have much needed resources. As further developments takes place in the municipal city property values will increase, hence the amount of property tax collected by the Portmore municipal council will also increase. This increase however, is not a guarantee that the tax collection will be sufficient in the maintenance of the community due to the rising cost of goods and services. Hence continuous voluntary compliance is essential and important as it most efficient for both the tax payer and the tax authorities. This section gives the hypothesis or research perspectives, the design of the research and the methods that were used to gather the data. 4.2 Hypotheses/ Research Perspectives My research perspective on the Municipal City of Portmore attaining the highest compliance rate property tax collections in Jamaica are: That the tax payers have recognised the need and importance of property tax to the community. The taxpayers are knowledgeable about property tax and the consequences if not paid. The local authorities are ensuring that the community is well maintained by effectively and efficiently using the tax collecting in providing services such as timely collection of garbage, maintaining and ... Get more on HelpWriting.net ...
  • 39. The City Of The Golden State Let's say you're a Californian who was born and raised in a major city in the Golden State. You just graduated and received your bachelors in one of the many UC schools that the state offers. And now you found a job that fits your career choice. So you decide to move out from your roommates place and into a new home. Well thing is you probably won't be looking to lease a house but rather rent a house or most likely an apartment. Back then especially before 1978 you could most certainly be able to do this. But thanks to prop 13 stance on capping the states property tax measures, it's extremely difficult to own a home in California. After 40 years in state law, prop 13 has released some unfortunate effects on the young and lower income. Having to pay more in property taxes than rent, it's a no brainer why many young Californians are moving out of here. On June 6th, 1978, nearly two–thirds of California's voters passed a measure that would reduce property tax rates on homes, businesses and farms by 57%. Many state residents were living with increasing property taxes on the state. And a new proposition came, allowing property owners to reduce taxes on their properties. Thus residents were able to use a rational principle towards achieving their goal. However now, many new young people are turning away from home buying due to high property taxes according to the California Legislative Analyst's Office. Today, this may seem as an eviction notice but for some, proposition 13 is ... Get more on HelpWriting.net ...
  • 40. The And Its Effects On The Community Wellesley has been known as a well to do community with good school systems. The neighboring communities such as Weston, Wayland, and Needham are also comparable in terms of real estate values and excellent educational systems. However, in Wellesley, there has been a rapid change in landscapes throughout the town due to what is described as a demolition haven. Although the culprit of the recent high–end building boom is unclear, new constructions replaced by the teardown act are popping up to be transformed into mansion size houses. What is Wellesley trying to compete against? What impacts do they impose on seniors who are retiring or have retired? Many old houses have their inconveniences but have characters which have painted a part of beautiful Wellesley scenery. The recycled properties increase the value of the houses on the street, which in turn increases theproperty tax bill due to increased assessed values. It resembles a domino effect. Many elderly people are trying hard to stand firm on their feet to avoid being knocked over, but controlling their environment is nearly impossible and seeing annual updated assessed property values with increased appreciation may only be described as a nightmare. Proposition 2 ВЅ (MGL Chapter 580 of the Acts of 1980), also known as Property Tax Levy or levy, is a Massachusetts law passed by ballot vote in November of 1980. Its purpose is to limit the amount of money city or town can raise from property taxes. There are three ... Get more on HelpWriting.net ...