Inflation Rate Multiplier: Part of the Great Reset?
Being a Home Owner
I am blessed to be a home owner. I don't want to give the impression that I'm not grateful to be a home owner, or going on about these "must be nice" problems of dealing with taxes and appeals - what I'm unhappy with is injustice and lies.
Every six months, the Michigan Department of Treasury will send a "Tax Statement" based on the assessed value of your home and property. As the (sell-able) value of a home increases, so does the assessed value increases, and the tax bill will increase.
The Assessor Assesses
An assessor will visit your home and estimate the value of the home and property using all sorts of statistics and data. It all looks very impressive, but it's very much inflated.
An example: value is added to the home based on which school district it's part of. If they determine it's "a very desirable school district", that increases the assessed value.
IF we were selling the home, these features might go into our ASKING price, but not final the SELLING price! Certainly not our annual TAXABLE price!
Appealing Property Assessments
If the home owner feels the assessment is inaccurate, they can appeal the decision. I went through this process once. They make it as unpleasant as possible. It was not fun. And it was pointless.
You gather your evidence as to why you believe the assessment is inaccurate. They call you into a board room with a number of well dressed people (who do not introduce themselves) and they have you make your case.
It's like shark tank. The feeling is that you have to "impress" them with your presentation. It doesn't matter if your presentation is perfect, your argument is spot on, doesn't matter if you offer compelling evidence. You will see a lot of unimpressed faces.
They will end the meeting with something like "you'll receive a decision via mail" or something to that effect. Then you'll get the letter essentially saying "no changes".
The process is not there for people to really make an appeal, it's there to give people the illusion of some control over the situation.
If the assessor decides your home is more valuable, then you will pay more taxes on it. Even for reasons that are beyond your control.
The Inflation Rate Multiplier
This experience has taught me that there is no real opportunity to "appeal" any disagreement with property taxes.
What happens when inflation hits? Inflation means higher prices and yes, homes will naturally be worth more money. The assessor will certainly factor inflation into the price.
But the treasury has made that easy. Introducing: THE INFLATION RATE MULTIPLIER.
This was on my most recent "Notice of Assessment, Taxable Valuation" document:
We are in for a wild ride. If inflation of the US dollar ever goes haywire, we are going to see this number go way up. That means when they make their annual assessment, they can automatically factor inflation into the value of the home.
This means under the right circumstances, property tax can double or triple in a single year, simply at the flip of a switch. No legal process needed, just change the "inflation multiplier".
Adjusting the value of the home by a "multiplier" means the taxable value will also "multiply".
Can We Appeal INFLATION?
When it comes to rising prices, we may see multipliers on our bills, to compensate for inflation. Imagine your electric or gas bill with an "inflation multiplier" increasing the price by 1.5x or 2x or 3x?
What appeal process will we have concerning inflation multipliers? They will look at us and say "It's hard for everyone" and "we're in this together" and "at least you're making more money, right?" and "It's the New Normal" and "Prices are going up everywhere."
When taxable assets increase in value based on the assessor's "multiplier", what is the property owner supposed to do? We have no control over economic issues like that!
If you're going to need more money because of inflation, put it to a vote! How can they just flip a switch and tax more?
Forced Buyout
Not to get ahead of myself... but what happens if we cannot afford 4x property taxes? Or 10x property taxes?
Or 1000x property taxes?
Will the state seize the property for "unpaid property taxes"? Who will bail our family out?
Blackrock?
Perhaps INFLATION is a key element for the "great reset" where there are no more HOMEOWNERS. We will rely on the world system to live. This is a nightmare situation for our family.
Am I going too far with this? Am I letting my imagination get the best of me?
I can't help but wonder why the WEF (World Economic Forum) would make such an outlandish statement (You will own nothing and be happy), unless they had an actual plan in motion to bring it about.
Topple the monetary system, forcing people to be "bailed out" by the big guys... but at a severe price.
Am I Off My Rocker?
I hope I'm wrong, because I don't see a way around this scenario. If local municipalities start handing out insanely high tax bills, we could protest, we could refuse to pay, we could do things like this... but most people won't. And just like the appeals process, it will be pointless.
If a convenient solution was offered (sign here in blood), many people could get swept into making decisions that would affect generations to come. Decisions that may seem sensible at the time, but have permanent long-term consequences.
What do you think? Is this possible? What steps could we take now? Is this not worth being concerned about?
As For Me and My House
Just because we see what might be coming, does't mean we should worry about it. Yeshua said "Do not worry about your life" and "those who seek to save their life will loose it" and "those who loose their life will find it". These are words of encouragement, for us to "Be strong and courageous" and to "seek first the kingdom of Heaven (the Reign of God) and all these (concerning your life) will be added unto you."
We either believe this or we don't. Will we have joy when our livelihood is stolen from us? Will it shake our confidence?
"You joyfully accepted the plundering of your goods, knowing that you have a better and an enduring possession for yourselves in Heaven, therefore do not cast away your confidence which has great reward." Hebrews 10:34-35
Maybe the day is coming when our goods are plundered, when we find ourselves slaves in Egypt... no matter what, we must keep our eyes on the ultimate prize, the great reward in Heaven, no matter what the enemy of our souls have planned for us.
Bless the Name of the Most High God and the Son at His Right Hand!
Bless the Most High!
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Well, the great reset, I am not really following the hype of this so called planned set-up by Klaus Schwab and his friends, but inflation is indeed a motherfucker… It’s a form of taxation that people really don’t understand, but thank God we have crypto as a hedge against that! No great reset for us!
In my opinion, when big-time inflation hits, people will cash out their crypto to try to offset higher prices. This will cause many cryptos to crash at first... it will take "diamond hands" to HODL during this time. Good time to buy if you can and not be discouraged because they may seem worthless.
But eventually (once hyper-inflation begins) the assets will reflect the rising prices and reach levels we cannot imagine, like trillions of dollars. This is only my opinion, many nations may begin printing trillion dollar bills. How many of these would it take to purchase one bitcoin?
I'm sorry you had to go through that, but I have to admit, I laughed out loud reading this in combination with the South Park image:
I can only imagine how uncomfortable that must have been!
I'm also wondering how this will unfold the whole "you own nothing but be perfectly happy" shit that was mentioned. It sure feels as if they're going into that direction but I'm not willing just give up now that we're finally going to be in a better financial place than we've ever been. I will just keep building and hoping that by the time it gets to that point, it turns out this was not explained well (only to spread fear of course) and there was another side to the story.
I have no idea how to otherwise take these comments though, but I refuse to live in fear of losing all my belongings.
Reliving the moment in my mind, I laughed too. Although it wasn't funny at the time, I didn't know what I was getting myself into! I was younger and more naive then.
I'm happy to hear you are in a better financial position, I hope that all goes well and the evil plan of evil people get in the way of your self-determined destiny! Keep building and hoping, it's not like their evil plan is written in stone... once the Georgia guide stones are toppled and pulverized into chunks.
This is a good strategy, today's evil is sufficient on it's own! No need to extrapolate into a dystopian vision of the future that may or may not take place.
Exactly :)
Yeah, "You will own nothing and be happy" as decided by a handful of psychopath billionaires who would never in this lifetime be able to live owning nothing...
It's been long planned, and we're not moving into a time with inflation, it'll be hyperinflation.
I've been saying this for the last two years, and was called a crazy conspiracy theorist.
But what can you expect, when life has been put on hold for a long time. Some longer than others. Businesses that had to close, people losing jobs... The also planned oil crisis plays right into their hands too. And still people can't see what's really going on.
Taxes are theft. Period. Those history lessons where they'd tell us about the crazy kings, barons, and landlords that would extort the average people and take all they had, leading them into poverty... We used to be appalled by it. How could they treat people that way? But nothing has changed. It's still the same. Just different players. Now it's suddenly OK. Because they build roads with those taxes (do they though?) and there's some sort of social security, although I wouldn't want to be the one in the US to have to avail of it...Here in Mexico, there's a hole in the road, the people fix it. Not the government.
Just imagine how it would be if people would take their power back and sort everything amongst themselves. Would it be possible? I think it would be. I think that's where we're going if those crazies aren't stopped. I think the new world isn't a bad world. We can make it better. We don't need billionaires to do it for us.
There are communities being built everywhere. Especially here. Something to consider if things go crazy over there...
This needs to be said more often. I grew up in a culture where good people pay (surrender) taxes and bad people avoid them. I'm learning that it's not that straight-forward. Taxation is a symbolic gesture, the government is so much in debt, our little drippings don't make an actual difference. But... we are told to "do your part" and "pay your fair share". As if the authorities of this world really have our best interests in mind.
Quick story: there was a particular road in our neighborhood was awful, potholes large enough to loose a car. Someone petitioned the municipality to repave the roads. Next thing you know, there's a contract to repave (yay!), the roads are fixed (yay!) and every house with improved road in front of it has to pay several hundred dollars a month for years (BOOOO!!!!) with no option to opt out. The myth of "taxes pay for roads" is bunk.
This is how it should be. Those hundreds of $$'s that all the homeowners pay could have gone to a private contractor and they could have repaved the entire neighborhood for much less.
It's going to be intense, especially around here, one in every few dozen cars driving around look like this:
I disagree with some of the things you said but your post was very well done. Like anything else, its value is what people are willing to pay. That is why some things that are intangible can affect the price. Your experience with the review board sounds terrible but it doesn't surprise me. Thanks for sharing.
Thank you for your comment.
Very true. Being in sales, that's a concept I'm very familiar with.
Also true. The reassessment took place when housing prices were extremely low, after the real estate bubble burst. Other homes were selling (cost per square foot) at much lower rates then the assessment. The assessor priced the home unfairly high, then used statistics like crime rate and school district to "act as if" the assessment was fair. It was criminally unfair, and I gave them the evidence. But it made no difference. It was an eye opening experience about how corrupt local government can be. I should have had a lawyer present and recorded the entire thing. But at that time I was a first time home owner, just married, one child, and caring for my elderly grandmother. Too much.
I like to remain optimistic and positive, but I also don't want to be blind. Today, as a father of six children and a husband, it's my duty to look on the horizon for potential threats. But some things are beyond my ability to control.
Yep. It's rule by technocracy. And you have no say. Even though you pay their salaries! We have (been) sleepwalked into this over a long time.
@misslasvegas has it right. Tax is theft. Without the threat of using force when collecting taxes, I wonder how many of us would be inclined to pay governments for terribly inefficient and ineffective service levels, foreign wars, horrendous infrastructure etc.
Manufactured inflation of the kind you describe is a last resort for any government to get out of debt, or at least reduce debt levels. And it always, ALWAYS fails.
Best be prepared!
All corrupted civilizations eventually fall.
The government and the organizations under it are so corrupt. It's so inefficient and I can only see their current actions as sucking money away from us. I don't even know if there is anything that can really be done about it at this point.
However, I am not really sure I agree with the inflation narrative. Technology is always improving and I think it tends to be more deflationary because the price we are paying for this relative to the price we pay a decade ago in terms of electronics and etc is definitely lower. I think technology only moves it downwards but the supply chain issues are causing prices to go up in the short term. It is possible that the confidence in fiat drops and prices go up because of that and it could offset the deflationary aspects.
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I agree completely! Technology brings about lower prices for goods and services and as technology continues to improve, it will become even more influential in bringing costs down. What's difficult is when the scale changes. What used to be $10 can now be bought (because of advanced manufacturing) at the $1.00 store... but then the $1.00 store becomes the $10 store because of 10x inflation, we're right back where we started! But instead of being $100, it's only $10.
Once the supply chain issue is resolved, it will improve a lot of things. We were told that once the "pandemic" restrictions were lifted, everything would be back to normal, but we're discovering they are far from normal.
A very well written post. There is a lot going on right now, and many people's attention has been diverted from what lies beneath everything. Inflation is higher than it has been in the past 30 years, and people are still closing their eyes to what is happening.
There are so many things that it is also difficult to see through them all. However, there is a big difference between seeing and going along with it. Keep building your own future and your dreams is all you can do.
Thank you. Many people are hearing the word "inflation" for the first time, if we experience heavy inflation, it will be the talk of the town. Even if we suspect the bully will topple what we build, we should never stop building - if we make a habit of doing that, we will always have something! Every "disaster" has "opportunity" on the other side of the coin. Let's build on that OPPORTUNITY!