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n3gative_c00l OP t1_iuaiw5p wrote

Ah, I see that 22Q4 is supposed to be extremely high. Does this mean that they basically didn't smooth the increase out over 4 quarters, so it is like ~3X higher than normal? That would make sense (and be less despairing), even if it is about the most maximally painful way you could do a tax increase.

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bodhipooh t1_iud64q6 wrote

>Does this mean that they basically didn't smooth the increase out over 4 quarters, so it is like ~3X higher than normal?

Basically, this is correct. Q3 and Q4 were high because they are "trueing up" for the year. The budget that was approved in October is the 2022 budget, so the increase in taxes is retroactive to the beginning of the year and became *instantly* due in Q4.

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wasting_-my-_time t1_iudgw8f wrote

I fully expect this will happen again in 2023. Plan for a big tax hit.

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pixel_of_moral_decay t1_iudr9e6 wrote

It will. State will contribute less to BOE so even without inflation taxes will need to go up.

Then the city hasn’t fully accounted for inflation since most of this years budget is retroactive. So that’s on next years budget.

That’s the minimum.

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bodhipooh t1_iudx2c9 wrote

You, and I, and several others have been stating this for years, pretty much unheeded or ignored by most, it seems.

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