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Gov. Greg Abbott and top Texas leaders announced Tuesday that they will push for legislation next year that would freeze property tax revenues for cities that cut police budgets, just days after the Austin City Council approved a budget that will cut police funding by one-third and reinvest money in social services.
"Any city in the state of Texas that defunds law enforcement will have their property tax revenue frozen as of that time," Abbott said in Fort Worth, where the press conference was held. "This will be an effective tool that effectively will prevent cities from being able to reduce funding support for law enforcement agencies."
Not to change the topic here:
California Legislators Propose 0.4% Wealth Tax, Plus 16.8% Income Tax Rate
Denmark seeks to fund early retirements with tax increases
Denmark's Social Democrat-led government drew the ire of the country's financial industry by unveiling 3 billion kroner ($480 million) worth of additional taxes to fund early retirement for certain categories of workers.
The government's plan includes a targeted corporate tax on banks and pension funds and higher levies for the most wealthy investors on their stock market returns, Prime Minister Mette Frederiksen told reporters Tuesday.
What's ahead for your taxes if Biden wins the election
Though former vice president Joe Biden has proposed raising taxes on the wealthiest households, accountants are telling their clients to stand pat for now.
As Biden prepares to accept his party's nomination for president this week at the Democratic National Convention , high-income earners are beginning to wonder if it's time to revisit their tax plans.
"Many people think the Democrats will take the White House and the Senate, and as a result, changes will occur sooner rather than later," said Jim Bertles, managing director of Tiedemann Advisors in Palm Beach, Florida.
Quite a lot has been going on:
Why You Shouldn't Donate Bitcoin Without Tax Planning
You can bypass capital gain taxes and generate a tax deduction by donating cryptocurrency such as bitcoin to qualified charities. However, if you don't do careful tax planning, it is highly likely that you will reduce or in some cases completely eliminate the full tax benefit you can get from crypto donations.
To understand how crypto charitable donations are calculated, I will explain the impact of factors such as timing, tax profile, charity type, Adjusted Gross Income (AGI) on the ultimate deduction. Gaining a command of these could mean the difference between a sizable deduction or no deduction at all.
Transportation funding down, even though gas taxes have gone up | Govt-and-politics | richmond.com
Virginia gasoline dealers are not happy to see transportation revenues going down less than two months after fuel taxes went up.
State officials estimate that decreased driving during the coronavirus pandemic helped lead to a $121 million reduction in transportation revenues for the fiscal year that ended June 30 and the will slash expected money for roads and transit projects by $750 million in the two-year budget that took effect on July 1.
Biden's tax plan: Eyes on the 1% and corporations like Amazon
The Trump campaign's official response largely ignored that and started by bringing up a different subject entirely: taxes.
Trump's press secretary opened by saying that "the first night of the Democratic convention left out the fact that Joe Biden would raise taxes on more than 80% of Americans by at least $4 trillion."
The numbers were slightly off but are true in the broad strokes. According to analysts, Biden's tax plan would raise "between $3.35 trillion and $3.67 trillion" in the coming decade.
Esri Tech to help modernize Vermont Department of Taxes | Vermont Business Magazine
"When state and local governments assess properties to determine how much they should be taxed, they have to also ensure that property values are equalized across each jurisdiction so that state resources, such as school funding, are fairly distributed," said Brent Jones, global manager of land records and cadastre at Esri.
Axiomatic LLC is a New Hampshire-based company serving government, business, and nonprofit clients all over the world. Esri will assist Axiomatic by working with the Vermont Department of Taxes to collect real estate data from local tax assessors across the state to create one aggregated near real-time database. Axiomatic's software will provide efficiencies, enabling the department to focus on the analysis of that data and verify fair property taxation.
Happening on Twitter
Texas Gov. Abbott, Other State Leaders Want To Freeze Tax Revenues For Any City That Cuts Police Budgets https://t.co/0mU2RmexN6 DailyCaller (from Washington, DC) Tue Aug 18 20:45:00 +0000 2020
Greg Abbott and top Texas leaders said they will push for legislation that would freeze property tax revenues for c… https://t.co/BNLpYS1yCr HoustonPubMedia (from Houston, TX) Tue Aug 18 20:13:41 +0000 2020
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