How much interest will I earn?

Interest on the total amount of trash fee payments made to the city in fiscal year 2007 accrued from the date of the preliminary injunction order, November 20, 2006, to the first quarterly billing date in fiscal year 2008, April 17, 2007.

The interest has the daily rate of 4.82% and yield of 5.00%.  The city will allocate the interest earned based on the amount paid per account, according to the following formula.

Interest Earned = (Amount Paid Per Account divided by Total Trash Fee Payments) multiplied by Total Interest Earned by the city.

Your exact amount of interest earned will appear on the first fiscal year 2008 invoice.

The property owners who choose to participate in the city’s trash service in fiscal year 2008 will have the option to apply the previous payment along with interest earned to the current trash fee balance.  If the total amount of payment and interest exceeds the current annual balance, an automatic refund for the difference will be processed by the city.

Trash Fee FAQ:

1. I thought the trash fee was invalidated by the court.
2. I thought the City was going to stop collecting the trash fee.
3. I made payments last year. When will I get my refund?
4. How much interest will I earn?
5. What are my options under the new trash program?
6. Can I re-join the city trash program after I leave it?
7. When will I get the new bill?
8. Can I still get a discount?
9. The number of containers on my trash fee bill is incorrect.
10. I did not receive credit for the return of additional container(s).
11. I only received the discount on one (1) container.
12. I do not have city trash service at my property.
13. The name of the owner on the bill is incorrect.
14. Can I have the trash bill sent to a third party, who is not the primary owner?
15. The service location on the bill is incorrect.
16. The mailing address on the bill is incorrect.
17. When will my bill adjusted?
18. My payment did not show on the bill.
19. Can I pay the trash fee in full, as opposed to 4 quarterly payments?
20. Can I schedule the trash fee payment through an automated debit to my bank?
21. Can I add the trash fee payment to my bank’s existing real estate escrow account?
22. Do I have to pay the trash fee if my property is vacant?
23. Can I return any unwanted or unused containers?
24. Can I get a prorated bill if I do not reside in Springfield for the entire year?
25. Can I submit a birth certificate with my maiden name as a proof of age?
26. Do I have to pay the trash fee if I live in a condominium or mobile home?
27. Will I be billed for containers assigned to my property, even if they are missing?
28. Will this fee increase in the future?
29. Is this a permanent fee?
30. Can I deduct this fee from my taxes?
31. Who is responsible for paying the trash fee?
32. Do I have to pay if I have private trash collection?
33. Do I have to pay the fee if I rent?
34. How much is the trash fee?
35. Do seniors have to pay the full amount?
36. How much do I pay if I have a 60-gallon container?
37. Do I have to pay for recycled items?
38. Does the fee include disposal of bulky items?
39. Will this fee change the way the trash is collected?
40. How can I report a problem with my bill?
41. How can I pay for this fee?
42. When are the bills due?
43. What happens if I pay late?
44. What happens if I don’t pay the fee?
45. Are there discounts from the fee?
46. How do I get more information?

Trash Fee:

• Trash Fee Info
• Trash Fee FAQ
• Ask a Trash Fee Question