Lower Taxes by Credit

Vaughan plans to lower tax bill with unique point system

Vaughan is the first city in the world to suggest using the common credit card to reduce residential and commercial property taxes.
The idea was presented to the City Council by Economic and Technology Development Commissioner Frank Miele, and it would appear quite simple.
Many credit cards offer points that most people never redeem, despite their significant worth; the City of Vaughan could redeem them for taxes.
Since the City does not need to make a profit, the citizens would receive more than their points' usual value.
In other words, some percentage (to be determined) of any sum charged to the Vaughan Credit Card would go to diminish (possibly eliminate) the year's tax bill. The credit card would be just like any other currently circulating, so it could be used in Vaughan or any other part of the world for any kind of purchase.
All the city councillors declared their enthusiasm for the idea, and will now receive a detailed plan for the project, which could be ready by the end of the month. The company managing the whole operation would be selected through a tender.
"This initiative would not cost a dime to our City," said Miele to the councillors, "since every associated cost will be borne by the managing company and/or financial institution."
Citizens will also profit, as a percentage of what is currently spent for buying groceries or filling up the car's tank will go to reduce the amount of municipal taxes.
This initiative is unprecedented, "and it will turn Vaughan into an international example in services to the citizenship."
"This is an innovative and interesting programme," remarked Tony Carella at the end of the presentation.
Now, some details need working out, such as, "any eventual cap on the sum that can be redeemed. It would be better if there was none, but in case there was, it should be high enough that the average property tax can be covered," declared Councillor Linda Jackson.
Maybe, the day will come when people who use their credit card a lot will get a cheque from the City of Vaughan.

Publication Date: 2004-05-30
Story Location: http://tandemnews.com/viewstory.php?storyid=4021