Property Tax Increase

[Trip McNeely]

Not that more responsibility in spending should not be first and foremost, but are some on here aware that there were cuts made last legislative session?

http://www.inforum.com/news/4024999-dalrymple-orders-deeper-cuts-state-agencies-budget-proposals

- - - Updated - - -

If anyone foresaw the drop in oil pricing and positioned themselves in the market accordingly, I am sure the state would appreciate your ability to predict this oil market.

if anyone couldnt have seen an inevitable correction or crash in oil they are/were blind.......

 

[gst]

if anyone couldnt have seen an inevitable correction or crash in oil they are/were blind.......

Exactly how much did you make in the market positioning yourself for $40 oil?

I missed your posts on here foretelling of an over $100 drop in oil prices.

$80 oil the state govt likely has funds to cover expenses with no cuts.

- - - Updated - - -

You were talking about an imbalance in crude oil supply and demand then you switched to another subject- wheat.


I can't predict weather or wheat production any better than the man in the moon but I can tell you what would happen to wheat prices if new technology provided a way for every producer to harvest 120 Bushels of wheat per acre.

Davy, you are the one that brought up commodities.

So you knew oil would hit $40?? Everyone understands markets correct themselves, the simple fact we established the legacy fund suggests we understand the market at some point might fall. But who here predicted it to drop to where it did? If you did, you should be a millionaire a few times over.

Davy, had the market corrected to say $70 what funds would have been there for the state to use?


So the legislators are so stupid they could not foresee this predictable drop (of over $100)in oil...........yet every thinks they should be in charge of coming up with the funding solutions and being in charge of dividing it up when we get rid of property tax.............

Okay then.

 

[Trip McNeely]

ive done well on paper so far thanks for asking.... until i hit the sell button its not realized value yet, but i did see a correction coming and held off the urge to buy "hot" oil stocks when the gettin was good. most of my securities were bought when oil was below 40. bought and sold a few since the crash and have made small profits but am holding most until it goes back to 80-90. it will. may be 20 years but it will. i spent the better part of 5 years working around the oil patch. being from nd i, like many others realized this chaos of a growth model was unsustainable. the "one-time" oil- funding is great and all but how will it be paid for to maintain? thats alot of new infrastructure to take care of. i dont know if anyone would have thought oil would hit 40 but to think the last 5 years were going to be the new normal would be unresponsibly foolish to think. why they didnt take a worst case oil price approach to set budgets i dont know...... esp with a volitile market as oil...

 

[gst]

like I said, most everyone understand markets correct. The point here is foreseeing it drop to $40. Had it dropped to $70 or 80, the state would still be running on all cylinders revenue wise.

Hindsite is always a bit better.

http://www.macrotrends.net/1369/crude-oil-price-history-chart

 

[Trip McNeely]

thats fair enough. its easier to see into the past than into the future. maybe a better way going forward is using a formula that is based off of lower than expected revenue forecasts and cutting that in half lol. id rather them miss low than high and have to give an excuse of "unforseen" markets...... id like to see some politicians who can do more with less instead of the same old less with more we are used to.

 

[lunkerslayer]

I rent so if my landlord doesn't pay property taxes does this mean I get cheaper rent?
Probably not

 

[Davy Crockett]

like I said, most everyone understand markets correct. The point here is foreseeing it drop to $40. Had it dropped to $70 or 80, the state would still be running on all cylinders revenue wise.

Had it only dropped to 70 or 80 we would still be in a boom. twist it anyway you want The only difference between the boom bust of the 80s and this one is we now have someone getting paid more than our Governor that is still trying to tell us its not going to happen. markets can't support a huge flood of production it's that simple. Cows , grain, oil I can't think of one market out there that wouldn't crash . There is no sin in expecting more out of our leaders, they were so busy patting each others on the back for the good work and boasting about North Dakota being the best run state in the nation they forgot about reality.

 

[lunkerslayer]

No property taxes need to stay right where they are it's a privilege to own a home or land unless we can get a renters rebate like what Minnesota had when I lived there. Until then there isn't enough tax infrastructure to get away from property taxes becuase if there was the brain trust at the capital woould have already thought of ways to regain capital by other means.

 

[gst]

like I said, most everyone understand markets correct. The point here is foreseeing it drop to $40. Had it dropped to $70 or 80, the state would still be running on all cylinders revenue wise.

Had it only dropped to 70 or 80 we would still be in a boom. twist it anyway you want The only difference between the boom bust of the 80s and this one is we now have someone getting paid more than our Governor that is still trying to tell us its not going to happen. markets can't support a huge flood of production it's that simple. Cows , grain, oil I can't think of one market out there that wouldn't crash . There is no sin in expecting more out of our leaders, they were so busy patting each others on the back for the good work and boasting about North Dakota being the best run state in the nation they forgot about reality.

Davy, if you fore saw this in such an absolute manner you claim, why not position yourself in the market and make millions?

The simple fact is ND has been a pretty well run state for the most part when compared with MANY others.

- - - Updated - - -

Case in point the cattle market. three years ago we saw record cattle prices. Most everyone knew a correction was coming but given the factors involved in our global market no one I knew foresaw it dropping to where it did.


Markets today are manipulated more than they are responsive. There are large amounts of monies made on market moves, moves that have no logical supply/demand/outside influencer answers. They move because that is how people make monies. They move far beyond what the influencing factors suggest they should because that is how people make monies.

So go ahead and look in your rear view mirror and tell us all how we should have known when/why/and how much markets should move........until you post your earnings from trades/positions made prior to said moves.........well you aren;t much better than my broker.

 

[Obi-Wan]

What would no property taxes do to the cost of land? Without having to pay taxes yearly it would be a good investment with very little risk.

 

[Davy Crockett]

Twist it anyway you want, I simply pointed out some common sense that you fail to see.

- - - Updated - - -

Your treating oil supply and demand like rocket science , Its not.

 

[WormWiggler]

Is the problem with government that everyone wants to get something from it. God forbid Antler doesn't break par.



And why do we have 53 counties, seems like 8 would do...

 

[Davy Crockett]

Is the problem with government that everyone wants to get something from it. God forbid Antler doesn't break par.



And why do we have 53 counties, seems like 8 would do...

Probably stuck in time....... Horses were the main means of travel when most counties were established, towns along railroad tracks were about 20 miles apart give or take, That was a one day ride on horseback. Just going by what the old timers said , It sounds logical.

 

[gst]

Twist it anyway you want, I simply pointed out some common sense that you fail to see.

- - - Updated - - -

Your treating oil supply and demand like rocket science , Its not.

So then how much did you make after the crash Davy? Nothing is being twisted.

You claim legislators should have foreseen the drop to where it is now..........yet YOU did not take advantage of your crystal ball and inside knowledge. I gotta admit, if I had that foresight to call these markets I would be cashing in like crazy.

- - - Updated - - -

Is the problem with government that everyone wants to get something from it. God forbid Antler doesn't break par.

Aaaaand you miss the point entirely.

All that is being asked is that you geniuses tell us how NECESSARY funding will be allocated across the state to the various entities before demanding we follow you over the cliff once property tax is eliminated.

How about you try answering that for once.

 

[guywhofishes]

 

[gst]

And guywhooverusesmemes apparently has no answers either.

 

[lunkerslayer]

And guywhooverusesmemes apparently has no answers either.

Gst they can't there isn't enough tax revenue anywhere else to compensate for property tax dollars. If they did north Dakota would have supported it and it's residents would have voted for it.

- - - Updated - - -

Also other then congress I don't think anyone else gets stock market tips it's one of thier perks.

 

[Davy Crockett]

So thenhow much did you make after the crash Davy?

Nothing is being twisted.


yet YOU did not take advantage


Haha twist away , You sure seem confident in your knowledge of my personal business.

- - - Updated - - -

ok I give , You win. I'd rather say uncle and see some progress with this thread than to dicker back and forth with you.

 

[Migrator Man]

So property taxes are going up 20-30% in Ward County? When is the next election? This must be stopped. There is no reason why taxes should go up over 5% with a absolute limit of 10%.

 

[gst]

So thenhow much did you make after the crash Davy?

Nothing is being twisted.


yet YOU did not take advantage


Haha twist away , You sure seem confident in your knowledge of my personal business.

- - - Updated - - -

ok I give , You win. I'd rather say uncle and see some progress with this thread than to dicker back and forth with you.

The point that was trying to be made is that the state (those behind the LF measure and those that supported it) in preparation for the expected drop in oil revenues created the Legacy Fund. They in fact DID prepare for a drop in oil prices. Had oil not bottomed out, the revenues the LF would generate would have nearly if not fully sustained the states expenditures that everyone was crying for during the boom.

So these legislators that are representing those in their districts that come to them for funding were doing their job. They forced an across the board 4% cut to spending. They are likely going to have to do that again next session if we hold them accountable to not tap into the LF.

I'm curious, how many on here attend the town hall meetings their representatives put on?

- - - Updated - - -

People want to brand others a "pox" for something........try holding the almost 40% of North Dakotans that don;t bother to vote accountable.

We are going to end up with the govt we deserve.