Thursday, January 07, 2010

Harmac's Tax Bill Charged 5% Daily Interest

Is Harmac Good For The Money??

When a company allows their unpaid bill of $2.8 million to trigger a penalty of over $200,000 and now is gathering interest at the rate of 5% daily, it makes you wonder.

Harmac spokesmen are quoted in the local daily as saying they are appealing their assessment which they feel is too high. The legal authorities may very well find in Harmac's favour, however I would assume the penalties and interest they are accumulating would still apply to the amount of taxes they should have paid.

If they really are good for the money, why not pay the tax bill, avoid the extremely high penalty and interest and should the courts find in their favour, the city would have to refund the taxes they had over paid.

This shows the folly of city councils and city managers who think that the taxes they are spending based on today's tax base will always be there. They keep spending our grand kids money like drunken sailors.

However, any council which tells us they are saving us money by paying someone nearly $500,000 to not come to work certainly calls into question their sobriety.


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