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Life After Brown
How Much is Your Car Payment?
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<blockquote data-quote="Up In Smoke" data-source="post: 5595145" data-attributes="member: 79702"><p>The issue we've seen the past decade is our state, county and local governments chose not to pay down debt when surpluses occurred. They instead chose for tax decreases and refinancing debt. When 2020 hit and revenues came to a screeching halt, we found ourselves in a double wammy situation. We had no way of paying our debts and no one to buy bonds. So when property values began to skyrocket in late 2020 and 2021, they had no choice but to reevaluate all properties and sock it to the property owners. The value of our properties have increased somewhere in the 40% range over the last 3 years. Good for us, because of usable equity, but bad for the majority of the private homeowners.</p></blockquote><p></p>
[QUOTE="Up In Smoke, post: 5595145, member: 79702"] The issue we've seen the past decade is our state, county and local governments chose not to pay down debt when surpluses occurred. They instead chose for tax decreases and refinancing debt. When 2020 hit and revenues came to a screeching halt, we found ourselves in a double wammy situation. We had no way of paying our debts and no one to buy bonds. So when property values began to skyrocket in late 2020 and 2021, they had no choice but to reevaluate all properties and sock it to the property owners. The value of our properties have increased somewhere in the 40% range over the last 3 years. Good for us, because of usable equity, but bad for the majority of the private homeowners. [/QUOTE]
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