$1.2 Million Lost From Outstanding Accounts

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The City Council suspended interest on taxes owed to the city until Dec 31, 2020. 

As of July 9, the city lost $555,000 in interest. The city plans to lose approximately $1.2 million in interest on outstanding accounts.

Tom Vair, acting chief administrative officer, said city staff “have been reaching out” to companies owing over $10,000.

There is around $2.8 million in the city’s tax stabilization reserve to make up for the budget deficit.

3 COMMENTS

  1. Brian, they also suspended interest on personal property tax. It takes a long time for someone’s house to go up for tax sale. It takes 3 years of missed taxes, and even then you have numerous chances to pay even a year’s worth and then it resets to another 3 years. Not sure which services you’re referring to that the city cuts off when you do not pay your property taxes…

  2. You can’t collect the taxes that are owed by these companies but you sure make sure you collect it from the public or you foreclose or cut off services maybe you should do the same for these deadbeatswhat are you waiting for to loose another 25 mil .like the plant fiasco .

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