Sampson County sought to collect $2.6 million from Aaron’s
Rent-to-Own for personal property taxes owed for the period from 2010 through
2015 for the property which Aaron’s leased to consumers. Aaron’s argued that the property was “in the
process of being sold” and qualified as inventories under N.C.G.S. §
105-275(34). The Tax Commission held
that by Aaron’s renting the property to third parties, it was not entitled to
the exclusion from personal property taxes.
This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent foreclosure crisis. Research on defaults was advanced both theoretically and empirically by the time the crisis began, but economists have moved the frontier further by improving data sources, building dynamic optimizing models of default, and explicitly addressing reverse causality between rising foreclosures and falling house prices.
This paper finds that graduates from universities that remove student loans from their financial aid policies are more likely to start entrepreneurial ventures and are more likely to subsequently get venture capital (VC) backing, particularly by reputed VCs, and get higher VC investment. Such ventures have higher sales and employment five years after founding. These results are stronger for universities with higher tuition and greater extent of R&D activity.
This paper studies the effects of available student loan repayment plans on borrowers’ career choices. By removing the risk of loan default, income driven repayment (IDR) plans make higher-paying but riskier jobs more attractive to those with moderate skill levels. The authors present experimental evidence that student loan recipients consider the repayment plans offered to them as well as the plans available to other borrowers as a reference in their evaluations of loans and careers.
