October 2011
Helping Pennsylvania Taxing Districts Hit By Unpaid Property Taxes Generate New Revenue For Their Budgets Since 2003
School Money Matters
Online Newsletter From Municipal Revenue Service
The Pennsylvania School Board
Association will be holding its 2011 School
Leadership Conference from October 18 -
21 at the Hershey Lodge & Convention
Center in Hershey, PA. Jeff Spaulding,
Municipal Revenue Service Associate, will
be attending the conference. "It's a
wonderful way to build and continue
relationships with elected officials that
make up school boards throughout
Pennsylvania," says Jeff. "It's also an
opportunity to explain the MRS process
that provides 90% of delinquent taxes
now, without the bait and switch tactics
that left some school districts with only
60% or less because they didn't use our
system. I will be pointing out to everyone
again that the big difference between us
and others is that we are not tax collectors, which means that MRS does not retain
the 10% penalty fees and 9% interest on delinquent taxes. All of that revenue stays
within the taxing district when they renew with us the following year, on top of the
90% instant revenue that was provided, just like a slot machine that keeps paying
out, which means we'll also be exhibiting some fun with our trade show slot machine,
so stop by Booth 427 and try your luck for a chance to win a gift card."
School board members interested in what MRS can do to help fill the gaps in their
budgets need to look no further than their professional counterparts across the state.
Please go to www.municipalrevenues.com and see for yourself the 32 school districts
that have benefited from MRS services.
©2013 Municipal Revenue Service. Municipal Revenue Service is a Patented Tax Lien Management Program. All Rights Reserved.
$18,049,535.85 Made Available To PA School
Districts So Far This Year Using The
Municipal Revenue Service I-Portal Program
Municipal Revenue Service (MRS) helped school districts with $18,049,535.85 through their I-Portal
program that arranged for the sale of ALL delinquent tax liens. School districts that signed on this year
will receive 90% of the face value of the tax liens in the form of instant revenue, and because MRS is
not a tax collector, additional revenue collected from penalties and interest is not
retained and is available for the following year's budget upon renewal of the
program. Typically, that's an additional 10% collected in penalty fees and 9%
yearly interest, on top of the 90% revenue that was initially generated.
No other program comes close to generating that amount of revenue on the
sale of tax liens.
Although a no-brainer, the MRS system walks the client through a
relatively easy path to generate instant revenue, yet it hasn't been all
that easy for MRS due to obstacles created by other previous
programs that generated negative press and anxiety because they
retained those precious penalty fees and yearly interest on the
delinquent tax liens. Because of this, some of the school districts
that signed on this year did so only after many years of meeting
with MRS. That, coupled with statewide pension obligations,
budget cutbacks, declining property market value and taxes,
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MRS Plans To Exhibit Fun With Their Trade Show Slot Machine
at the 2011 PASA-PSBA School Leadership Conference, Oct. 18 - 21
steered many districts to give MRS a second look. In previous years, when negativity and misconception about the sale of tax liens
were at their peak, some business managers did dig deeper to find out what the MRS program was all about. "When our District
required an immediate infusion of revenue to complete a fiscal year, the sale of delinquent tax revenues through MRS provided relief
from a potentially disastrous situation," explains William R. Gretton III, PRSBA, Former Assistant Superintendent of Business Affairs,
Harrisburg School District. "Within the four-year collection period the District received more than 110% of the original borrowing through
this program and continues to benefit from the timeliness of the program."
MRS invites your taxing district to dig deeper as well and sign-on with us as the following school districts did so far in 2011: Lancaster,
Steelton-Highspire, Armstrong, Erie, Allentown, McGuffey, Seneca Valley, Butler, and Uniontown. To see a complete list of MRS clients,
past and present, please go to www.municipalrevenues.com.