An assessor works for your local government with a purpose of figuring out how much your home, your land, and any improvements that have taken place on that land are worth. It’s done for tax purposes.
Lots of things are taken into consideration...from what your home is built out of, to where it’s located, to how big it is. This assessment is done every so often, based on state requirements. For example, in Illinois, everyone gets assessed every four years. Given that most real estate taxes are roughly 1.3% of the market value of the home, the higher the assessed market value, the higher the assessed taxes.
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Finance: What is the Free Rider Problem?10 Views
finance a la shmoop. what is the free rider problem? free rider not Easy Rider
but a great film ask your parents about it and go watch it someday.
alright and if there was any confusion this video is not about ebikes either. [kid holds up VHS in a movie rental store]
you know those battery-powered bikes? okay so you're a tax derelict. you hate
paying taxes so much you just don't. but then North Korea sends over a nuke.
well it's about ten miles off the coast just about to make you glow in the dark
forever, when one of our homing robot defense missiles shoots out the belly of
a nuclear sub, and blows that nuke from North Korea all the smithereen. thank you
very much. so now the country is safe not so much North Korea but that's a
different story. well you didn't want to pay your taxes. [missile flies through the air]
you didn't want to fund that sub or the brave sailors in it or the homing drone
or the myriad other fancy tech things that powered it. you deadbeat tax non
payer that you are, you wanted a free ride. a free ride on everyone else's hard
earned money that they paid taxes on. all right so how do we avoid this problem
like you? well we have the IRS and they have an army of geeks who make sure you
pay your taxes, so you can't just freeride on the rest of our backs. and if
you don't pay your taxes you face serious jail time and we'll have to end
up paying more than if you just fallin in step and pay your taxes on time along [man is thrown in jail.]
with everyone else. got it all right free-rider problem solved.
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