The November 23 West Haven Voice contains an article entitled "
Picard points to 3-step deficit-reduction". This article focuses in on three income components to reduce the indebtedness and to offset the shortfall:
- The recent sale of the city tax lien list for $1.05 on the dollar. (I find this surprising - why would a company pay MORE than what the outstanding taxes are worth? I think this must mean that West Haven will not get the interest or other penalties).
- Selling a second older tax lien list (will get less on the dollar, and apparently this contract is in the works - but if it is hard to collect money, anything is better than nothing, I suppose).
- Audit the city's business personal property list, and collect monies from businesses that are re-evaluated. (This is currently only in the RFP for the auditor. I wonder if this might be of limited use - too many businesses are really small potatoes in this town).
Other items discussed:
- Building Oversight Committee has found $4 million to date in reimbursements to be requested from the state for reimburseable school projects.
- Project bids are coming in below budget for the first time in years.
- Controls have been put into place for the bidding process that eliminate certain potentials for misconduct.
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2 comments:
Is he going to lower our taxes?????????? That's all I care about.......
the question was asked about why someone would pay more than the lein amount. Here is why: The company buying the tax liens now owns the lien to your property. This is not like out delinquent tax company that goes after the resident to pay the taxes and charges a fee for the efforts. This is very different, we are selling the tax lien off, so the tax lien company now owns the lien on the delinquent property and can charge interst, collection fee and can foreclose on your house!!!!!!!! They make a fortune, but not as much as the assigned sherrifs who make up to $100,000 in serving papers for the tax lien company off this deal. any political sherrifs come to mind??
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