Editor: Crass Cash
Orlando is going to experience a 17.7% property tax increase! This sounds shocking and I'm never happy with a tax increase, but in fairness it's the first one in 5 years and that puts it at around the compounded rate of 3.3% a year. Which in my opinion is too high, since inflation has been lower than that.
They're still going to have a budget shortfall, but the part I like the most is that they're also going to cut dept funding by $15 million. Whereas the tax increases are projected to bring in an additional $17 million.
Why am I bringing this up though. Well it's an example of just how inflation can creep up on you. The last time they had an increase was in 2008. And after next year I'm sure it'll be a 20% increase from them. So you have to be making 20% more and be worth 20% more than you did in 2008 just to BREAK EVEN! I'm not talking about getting ahead, just breaking even.
Inflation is one of the great destroyers of wealth and yet very few people even take notice because it happens so slowly. Didn't 2008 seem like it was just yesterday? Now are you 20% richer, the same, or 20% poorer than you were then?
They're still going to have a budget shortfall, but the part I like the most is that they're also going to cut dept funding by $15 million. Whereas the tax increases are projected to bring in an additional $17 million.
Why am I bringing this up though. Well it's an example of just how inflation can creep up on you. The last time they had an increase was in 2008. And after next year I'm sure it'll be a 20% increase from them. So you have to be making 20% more and be worth 20% more than you did in 2008 just to BREAK EVEN! I'm not talking about getting ahead, just breaking even.
Inflation is one of the great destroyers of wealth and yet very few people even take notice because it happens so slowly. Didn't 2008 seem like it was just yesterday? Now are you 20% richer, the same, or 20% poorer than you were then?
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