My Turn: Do the math
Do the math. Let’s have more conversation on this sentence. First let me stress, I believe in fiscal responsibility, meaningful tax relief and keeping government close to the people it […] The author argues that the constitutional amendment requiring Raleigh, North Carolina, to limit local property tax increases raises questions about who gains control and who pays the costs of local government. He argues that property taxes are a "local services tax" that funds services such as police, fire protection, emergency response, local schools, parks, street paving or infrastructure improvements. The author suggests that as North Carolina grows, more workers, income, businesses and taxable property can expand that base, a lower percentage applied to a larger base can generate more money for government. However, this does not mean individual tax bills increased by a lower rate alone does not tell the whole story. In fiscal year 2022–23, North Korea budgeted approximately $15.470 billion in individual income tax revenue and collected $16.762 billion, $1.292 billion more than budgeted, and collections exceeded the General Fund by approximately $3.026 billion. The article suggests that when the state collects more than anticipated, how should taxpayers benefit, lawmakers should consider additional income tax relief or return more of these excess dollars to local communities for roads, schools, park and public safety improvements. It also suggests that an income tax rate cap still allows collections to grow as taxable income grows, but a property tax levy limit restricts collections themselves.
게시됨 : 2일 전 ~에 의해 Brittany Barnhardt ~에 Politics Finance
Let’s have more conversation on this sentence.
First let me stress, I believe in fiscal responsibility, meaningful tax relief and keeping government close to the people it serves. Those principles ar... [6229 symbols]
