Exponential growth of property tax and of inflation

See https://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp

What does article is talking about is exponential growth. 

The same thing happens to your property tax in New York City. You will experience even faster exponential growth because 4% or 6% is usually higher than inflation nowadays. 

2555% Inflation through November 2020

It isn't just a arithmetic doubling it is a compounding. So just as compound interest can multiply your savings, compound inflation can multiply the effects of inflation.  As you can see from the cumulative Inflation chart since 1913 we have seen 2555% inflation.

Yes, that is right Two Thousand Five Hundred Fifty-Five percent inflation.


Popular posts from this blog

View the types of New York City Property Tax Exemptions

Towaki Komatsu: I don't trust any of you (referring to the New York City Council"

SOI Tax Stats - IRS Data Book | Internal Revenue Service