The Financial Supervision Board (JCF) today approved a new financial plan for Municipal Revenue Collection Center (CRIM) for Fiscal year 2021 Which income projects $ 1,973 million In collection and reforms in a period of five years.
Like the central government financial plan, the financial entity approved the CRIM plan unanimously during its tenure The monthly meeting held this morning.
The financial document listed about 11 proposals, according to the board, that would strengthen the property tax regime and translate it into income of up to $ 1,973 million Between fiscal year 2021 and 2026. Among the council’s measures – also proposed in the fiscal year 2020 plan – include the sale of an accounts receivable portfolio that could generate around $ 400 million to the public agency, and correct incorrect addresses that made it impossible to collect property taxes that It could generate up to $ 466 million and valuation over 17,000 properties not yet evaluated by CRIM which could result in $ 26 million for the government agency.
At the conclusion of the meeting, Natalie Yarsco, Executive Director of the Board of Directors, was confident that CRIM could comply with these measures to avoid a deficit of the entity. In turn, he declined the estimated income of $ 1.973 million to be overly optimistic.
“I don’t think the target is that aggressive. I think it can be done… There is nothing new and it doesn’t require changing property tax rates. This is true, in the past the government did not implement any of these changes and so this is what we are [la Junta] Here, but it is possible, “Jarisco said to questions from the press.
Yarsko pointed out that among the changes, it also includes the evaluation of new properties that can reach more than 230 thousand of which have not been identified and have not paid real estate taxes. According to the CEO, that amount could amount to just over $ 500 million for a government agency in the next five years.
He added that the Law on Combating Criminal Crimes, together with the municipalities, should improve the property tax collection system. Currently, according to data from the board of directors, CRIM only administers about 67.7% of property taxes in a single year. The financial plan sets the goal that CRIM can increase this number to 76% of groups in a five-year period. For this, the document states that by June 2022, CRIM should increase its collector’s staff by 25%.
For his part, Council Director Antonio Medina agreed with Yarsco and said that adherence to these measures is crucial to the financial health of municipalities. “Doing it well is critical. Municipalities lack sufficient funds and these measures are essential to ensure good management,” he said.
For his part, Yarsko indicated that municipalities – as managers of CRIM – must reinforce these measures if they want their financial outlooks to improve in the coming years. “Municipalities are aware of their financial situation and have expressed how difficult the situation is for them in these years. But municipalities are governed by municipalities. If they understand that they are facing a complex financial situation, they should be the first to implement these measures, especially the method of collecting real estate taxes.”
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