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How hard is inflation going to hit, or has hit?

budget76 said:
^^naw I don't, i was only 14-15ish so wasn't driving yet. but i follow your point, agree with your thinking. Exactly why I'm very interested to see if anyone sees anything reduce back down. I suspect some things will, but most won't
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easy youngin... open your eyes, nothing goes back down. if it does its only marketing ploy.

there has been money printed. that cant be undone. and is the bare minimum of market correction.
 
tracyb said:
easy youngin... open your eyes, nothing goes back down. if it does its only marketing ploy.

there has been money printed. that cant be undone. and is the bare minimum of market correction.
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yeah, we are lucky it is only "officially" trickling up as slow as it is

8% year over year....:laughing: hard pressed to find anything under 10% increased
 
Swayzeexpress said:
I give everyone a raise annually simply because they've learned or improved. Also get to give more responsibility and less time to shop for other jobs:usa:

I think I'm doing it right
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hell yeah. i see a 1:4 ratio all the time. boss 100 everyone else 25 or less.


i hate seeing less than 1:2. i know its not the way... and why everyone i've ever hired has their own business now. we all work together now as independent contractors. i dont know how that works on a big scale but its been fun so far. i win some, and i dont win as much, learn, on others.
 
www.cnbc.com

Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981

The consumer price index for March was expected to increase 8.4% from a year ago, according to Dow Jones estimates.
www.cnbc.com www.cnbc.com


Still, due to the surge in inflation, real earnings, despite rising 5.6% from a year ago, still weren’t keeping pace with the cost of living. Real average hourly earnings posted a seasonally adjusted 0.8% decline for the month, according to a separate Bureau of Labor Statistics report.
 
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Well, in spite of this slight economic hiccup, everything else is going great, thankfully!! :homer:
 
Rerock said:
I'd say inflation is in full swing...

Just got our 2022 property tax assessment and it went up basically 25%... :barf:
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We went up 98%. They are probably going to round file our appeal as well. :mad3:

We think its in part because the states shut down and tax revenue fell massively with 50% of the retail business closed. They conveniently reappraised only the big lots that they felt they could gouge on.
 
Thefishguy77 said:
We went up 98%. They are probably going to round file our appeal as well. :mad3:

We think its in part because the states shut down and tax revenue fell massively with 50% of the retail business closed. They conveniently reappraised only the big lots that they felt they could gouge on.
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So, if I were to become tax assessor would I have total authority to re evaluate propertys in my area to ridiculous low prices? Like, hey your 5k sqft house on 100 acres seems like a lot of work to maintain and nobody would like to live here. Seems like $20 is fair. Get in gov just to destroy it.
 
Dethmachinefab said:
So, if I were to become tax assessor would I have total authority to re evaluate propertys in my area to ridiculous low prices? Like, hey your 5k sqft house on 100 acres seems like a lot of work to maintain and nobody would like to live here. Seems like $20 is fair. Get in gov just to destroy it.
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That's not quite how that works. :laughing:


Assessed Value + Tax Rate = Bottom Line

As long as the bottom line is met, the other two factors alter.

Assessor's office hires out a company to do the assessing. Well, maybe not everywhere but here they do.
 
woods said:
That's not quite how that works. :laughing:


Assessed Value + Tax Rate = Bottom Line

As long as the bottom line is met, the other two factors alter.

Assessor's office hires out a company to do the assessing. Well, maybe not everywhere but here they do.
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So I did a little poking around, many are a sole elected position. NY state has some required training and is involved in keeping patriots out I'm sure.
 
woods said:
That's not quite how that works. :laughing:


Assessed Value + Tax Rate = Bottom Line

As long as the bottom line is met, the other two factors alter.

Assessor's office hires out a company to do the assessing. Well, maybe not everywhere but here they do.
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Nope, you have it backwards:
Tax rate (aka Millage Rate) = Total Budget/Total Accessed Value (of all real estate in the county/city/town/village)
Property Tax = Tax Rate*Accessed Value

Aaron Z
 
Dethmachinefab said:
So, if I were to become tax assessor would I have total authority to re evaluate propertys in my area to ridiculous low prices? Like, hey your 5k sqft house on 100 acres seems like a lot of work to maintain and nobody would like to live here. Seems like $20 is fair. Get in gov just to destroy it.
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Exactly.

The opposite would be "I see you recently moved here from California, $27k for your 2300 sq/ft house seems fair. Don't want you to feel homesick."
 
aczlan said:
Nope, you have it backwards:
Tax rate (aka Millage Rate) = Total Budget/Total Accessed Value (of all real estate in the county/city/town/village)
Property Tax = Tax Rate*Accessed Value

Aaron Z
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yea, I can see it that way. The tax rate and assessed value alter to something as long as the operating budget is met.
 
woods said:
yea, I can see it that way. The tax rate and assessed value alter to something as long as the operating budget is met.
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Assessed value is used ONLY to define what percentage of the budget you pay in relation to other property owners.
The millage rate is set by dividing the total assessed value for the town by the new budget.
Here is an example showing 5 similar (imaginary) houses with thier accessed value and yearly taxes before and after re-assessment:
1649776078417.png



Aaron Z
 
Dethmachinefab said:
So, if I were to become tax assessor would I have total authority to re evaluate propertys in my area to ridiculous low prices? Like, hey your 5k sqft house on 100 acres seems like a lot of work to maintain and nobody would like to live here. Seems like $20 is fair. Get in gov just to destroy it.
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I thought about it last time the assessor came by for a 'visit'

Just put up a gate at the end of the driveway instead.
 
[486] said:
I thought about it last time the assessor came by for a 'visit'

Just put up a gate at the end of the driveway instead.
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Until the five year reval comes along and they nail you with a $150,000 adjustment. :flipoff2:
 
Dethmachinefab said:
So, if I were to become tax assessor would I have total authority to re evaluate propertys in my area to ridiculous low prices? Like, hey your 5k sqft house on 100 acres seems like a lot of work to maintain and nobody would like to live here. Seems like $20 is fair. Get in gov just to destroy it.
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No, you would get fired for costing them money. Its their money didn’t you hear. They need to keep taking it from us. :flipoff2:
How else do they fund their parties and hookers and blow?
 
[486] said:
I thought about it last time the assessor came by for a 'visit'

Just put up a gate at the end of the driveway instead.
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If you refuse to allow them access I believe you cant really dispute the increase if one happens... But you be you. Let us know if you figure it out please.
 
Thefishguy77 said:
If you refuse to allow them access I believe you cant really dispute the increase if one happens... But you be you. Let us know if you figure it out please.
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Well he bought a shit heap so refusing access and letting them do a market adjustement based on standard rates is gonna be way better then letting them see all the work he's put into it.
 
Just got our's land went up .23 cents and house $3.46 I guess it is good to live in an economically depressed area.
I have never seen anyone come by to assess the place
 
woods said:
Until the five year reval comes along and they nail you with a $150,000 adjustment. :flipoff2:
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yeah that happened to the neighbor I talk to

figuring on keeping it "unfinished" (because really that'll happen anyways) so it doesn't bump the value up any
 
Thefishguy77 said:
If you refuse to allow them access I believe you cant really dispute the increase if one happens... But you be you. Let us know if you figure it out please.
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well he already took pictures of the barn that fell down (and the valuation went up by a few thousand) so the damage is already done
 
Property valuations kept lower than market so you focus on that and dont notice the millage increase so the politicians can expand their wasteful spending while you sit there grinning that you are "getting one over" on those tax collectors.
 
Big Yellow Machinery company's parts are going up 15.5% in June....
 
tracyb said:
hell yeah. i see a 1:4 ratio all the time. boss 100 everyone else 25 or less.


i hate seeing less than 1:2. i know its not the way... and why everyone i've ever hired has their own business now. we all work together now as independent contractors. i dont know how that works on a big scale but its been fun so far. i win some, and i dont win as much, learn, on others.
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That's the way to go, all our guys are subs but we take really good care of them. Trouble is finding peoples skilled enough to do good work but not smart enough to start their own company lol. It happens with a few guys every couple years but they come back quick when they realize people don't always pay on time. Their guys get pissed cause there's no money coming in weekly etc...

What do you guys do?
 
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