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A limited-tax general obligation pledge requires a local government to levy a property tax sufficient to meet its debt service obligations but only up to a statutory limit. Generally, local governments already levy a property tax and can choose to use a portion of the property tax it already levies, use some other revenue stream, or increase ...
Thirty-two of Pennsylvania's sixty-seven counties levy a personal property tax on stocks, bonds, and similar holdings. With the exception of the city of Philadelphia, Pennsylvania, municipalities and school districts are allowed to enact a local earned income tax within the purview of Act 32. Residents of these municipalities and school ...
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The bank or other financial institution will then turn over the money in the account to the government to pay down your tax debt. Asset levy: ... payment of the tax debt. A levy actually takes the ...
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A levy in the form of garnishment upon wages is considered to be a continuous levy, i.e. it needs to be applied only once and will be applicable to future wages until either released by the IRS under §6343 or the debt is fully paid. So as future wages are earned, no additional levy action is necessary by the IRS to take a large portion from them.
The routine yearly increases district-wide, along with any increase in site value from the public and private investment, generate an increase in tax revenues. This is the "tax increment." Tax increment financing dedicates tax increments within a certain defined district to finance the debt that is issued to pay for the project.