[00:00:05] The Kate Dalley Show. I'm just gonna say that and slowly walk away. The show starts now!
[00:00:15] It came without weapons. It came without tags. It came without packages, boxes or bags.
[00:00:23] Puzzled and buzzed to his puzzle of a saw. Then the Grinch thought of something he hadn't before.
[00:00:30] Dog. Maybe Christmas, he thought, doesn't come from a store. Maybe Christmas perhaps means a little bit more.
[00:00:42] Hi there. Welcome to Kate Dalley Show. So glad to be with you today. I know I don't have much of a voice.
[00:00:47] I sound like an 800 line or a 900 line. But, of course, getting to this main topic, I have Mitch
[00:00:56] Vexler with me and I told you today's show was gonna just blow the lid off of this scam, this theft going on in most every county in America.
[00:01:07] And my guest right now is Mitch Vexler from Texas. And he's actually in litigation with his county over
[00:01:14] the happenings, the goings on of the assessment and valuation of property and how this scam is really being
[00:01:26] perpetrated through designing a budget and then raising everyone's valuation in a fraudulent way to meet the budget
[00:01:36] of the amount that they want. Is that a good way, Mitch, of sort of encapsulizing the whole entire issue at hand or is there a better way?
[00:01:45] That's pretty well it. These are predetermined budgets that are being handed to the chief appraisers
[00:01:51] across the United States and
[00:01:55] they're told hit the budget. So regardless of the amount of taxing entities inside of that county
[00:02:00] hit the budget. And in the case of Texas is one more layer of fraud, which is the property valuation study
[00:02:06] that is at the direct hands of the state comptroller.
[00:02:10] Okay, so everybody points to the CAFR as the this is the hierarchy of of proof of fact of this is what your land
[00:02:22] your home is worth. Can you please describe the CAFR?
[00:02:25] C-A-F-R.
[00:02:27] No, because it's different in every state, right? So regardless of the definition,
[00:02:34] it's the uniform standards of professional appraisal practice is how the mechanics of the math are to be handled
[00:02:41] through what's called the CAMA software. The CAMA software software that all these CADs have.
[00:02:47] However, the CAMA software has the ability for the CADs individually. So they have what's called registered
[00:02:56] appraisers, RPAs. Well, they can hand override the computer system. It is literally the definition
[00:03:04] of garbage in and garbage out. They make up the value and then they try to negotiate the value
[00:03:11] through the appraisal review board process. The appraisal review board only exists as a way to
[00:03:17] placate the public and say, well, we're here for the public. We're here to help the public.
[00:03:23] Yet, mathematically, when you look at it, what we figured out is that 87% of the cases that show up
[00:03:28] in front of the appraisal review board don't help the public. Therefore, they're not there to help the
[00:03:34] public. It's a scam. The whole set thing is a complete scam.
[00:03:38] So when people's prices, when their tax evaluation goes way up and doubles and even say $100,000,
[00:03:47] you're thinking, how is my home worth this much more? Okay. So they come in with this assessment
[00:03:51] value. They have these tools that they utilize, that they manipulate to give you this total amount.
[00:03:58] You have to pay the tax on this amount by the point of a gun because otherwise you lose your
[00:04:02] property, right? So you're forced to pay it and it's coming from government level.
[00:04:07] Who is over that to make sure that theft doesn't happen? Crazy numbers don't happen.
[00:04:15] Who is over that in every state? Who is supposed to oversee this as a fail-set?
[00:04:20] Well, in reality, it goes all the way to the top. So I'm going to read something to you just so
[00:04:25] you understand and the viewers understand because this is important and this is across the United
[00:04:29] States. A reviewing court shall hold unlawful and set aside agency action, findings and conclusions
[00:04:38] found to be arbitrary, capricious, and abuse of discretion or otherwise not in accordance with
[00:04:45] the law. That statement is federal law and was also written in reality by Attorney General Ken Paxton
[00:04:57] in December of 2023 to the U.S. Supreme Court. Everything I just read in that definition
[00:05:04] is exactly verbatim what is happening at these central appraisal districts.
[00:05:09] Okay.
[00:05:10] I'm quite certain Ken Paxton did not lie to the U.S. Supreme Court.
[00:05:15] Therefore, members of the U.S. Supreme Court, given the fact that everything we have said
[00:05:20] is evidenced on our website, for what justification are these values up 100% in five years when there
[00:05:30] is no math to back it up? And to your point, Kate, who is the ultimate responsible party?
[00:05:35] Right. Who signs off in every state?
[00:05:37] Off the counties?
[00:05:38] This is happening everywhere. See, Denton County has roughly 500,000 property accounts.
[00:05:44] Okay. The state of Texas has over 10 million. This case that we're doing now affects every
[00:05:50] single one of them. But over and above that, this case in reality is replicatable, which is why there's
[00:05:55] so many attorneys now across the United States looking at replicating the case because this is a
[00:06:00] constitutional issue. So, and to that point, if a system is designed to violate constitutional laws,
[00:06:09] it's not a system.
[00:06:10] Right.
[00:06:11] It's a crime.
[00:06:11] Right. Like the mafia, like a mob.
[00:06:14] And you're right back to your word, Rico.
[00:06:16] Yeah. You're right back to your Rico violations.
[00:06:18] Yeah.
[00:06:19] Racketeering and using legitimate, whatever that means, government. It's an oxymoron,
[00:06:25] like jumbo shrimp, but legitimate government entities. So, who is the person in the state then
[00:06:33] who is supposed to oversee? Is it a comptroller? Is it the treasurer, state treasurer?
[00:06:38] Who is it?
[00:06:39] Well, so you have a tax assessor collector who goes and gets the money that is based on the
[00:06:46] value that the central appraisal district comes up with. So, the central appraisal district would
[00:06:50] certify, be it fraudulently or legitimately, they certify the values and hand it off to the
[00:06:54] tax assessor collector. In law, the tax assessor collector does have the right to reject and not
[00:07:01] even collect the taxes. Tax assessor collector does not work for the state of Texas. They work,
[00:07:05] they're under federal oath.
[00:07:07] Really?
[00:07:07] Not under Texas oath.
[00:07:09] So, there's all sorts of ways to get around it. But the reality is, and the answer to your
[00:07:12] question, it should stop in reality at the state comptroller. But we have filed full-blown
[00:07:19] complaints with the state comptroller only to receive back. We don't have the right to enforce,
[00:07:25] which is not true, but that's what they said.
[00:07:27] Okay. So, this could be stopped if people sued to find out why the valuation is so high.
[00:07:37] This could be stopped with multiple lawsuits just from average people like me, right? I
[00:07:43] sue because I want to see the proof of why they're gauging my property so high. And if you had honest
[00:07:50] indecent county commissioners, attorneys, right? Your county attorney, your state attorney,
[00:07:59] your assessors, your chief assessors in your area, you could change this. You could 100%
[00:08:04] change all of this. But you don't, we don't, right? So, this is why this is going on in over 3,000
[00:08:10] counties in America, right? But if we sued, if people sued in every county, what would happen?
[00:08:16] Well, so let's go through the process for a second. You receive a tax bill and you sign a
[00:08:22] protest document that says, I hereby protest my taxes. They will make arrangements for you to go
[00:08:27] in front of the ARB panel. So, you go through that dog and pony show and they'll try to settle up with
[00:08:33] you before you go to the ARB panel. ARB panels, for the most part, are just as corrupt as the CADs.
[00:08:38] They're completely useless. Now, in some cases it does work, other cases, but for the most part,
[00:08:44] it doesn't work because they just take the fast way out and say, well, we agree with the CAD.
[00:08:49] So, the problem with filing a lawsuit, what we're telling people is it's, it could be expensive
[00:08:54] depending on the state you're in. However, what you don't realize and what you should think through
[00:08:59] as a homeowner, well, wait a minute, this isn't just happening to me. I've got neighbors. How many
[00:09:04] of my neighbors is this happening to? Now, when you join forces as a co-plaintiff, let's say you got
[00:09:10] three or four neighbors that are on the same plane as you are. Well, and you can share those legal
[00:09:15] costs? Yes. And in the case of Denton Central Appraisal District, if the average lawsuits is
[00:09:21] above 508 per year, big lawsuits that go past the ARB. Well, if that amount of lawsuits doubled,
[00:09:28] we simply went to a thousand, Denton Central Appraisal District would be bankrupt. And it's the
[00:09:33] same thing, right? Because they don't even have the manpower. Like if you went from 7,000
[00:09:37] ARB hearings to 14,000, they don't have the manpower. They couldn't perform. So there's more
[00:09:43] than one way to skin the cat. The problem is skinning the cat in this case, for lack of a better term,
[00:09:50] is not the way to fix this problem. This is so irretrievably corrupted. The fix must be the
[00:09:57] elimination of the real estate taxes in favor of a uniform states, multiple states straight across the
[00:10:04] board, sales tax. And that restores the balance sheet to mom and pop. See, the problem right now
[00:10:11] is they have equity stripped mom and pop's balance sheet. Mom and pop do not own the land beneath
[00:10:17] their asset, regardless of the fact whether it's a commercial asset or a house. You don't own the
[00:10:23] land, right? Because you're being forced to pay this tax in perpetuity. Right. Well, the problem with that
[00:10:29] is that in the case of the state of Texas and any other state that we've studied so far,
[00:10:34] there isn't a single state in the union that owns all the land of the state. Therefore,
[00:10:39] the state has taken the position that we, the state, are the ground lessor and you, the peons,
[00:10:45] are the ground lessee. I see. The problem is there's no law to back them up.
[00:10:49] And we don't have land patents. That was in exchange for a warranty deed,
[00:10:53] is my understanding. Starting in the 40s, they started giving out the warranty deed instead of a land
[00:10:58] patent. You don't own what's under you. Right. So they took an idea that at one time may have been
[00:11:04] with good intentions, but they have corrupted it to the point where it is irretrievably corrupt.
[00:11:10] Wow. And then when we come back, I want to discuss again the budget. So they are creating these
[00:11:19] very big budgets with 80.3% going to the schools, right? But they don't, it's not about caring about
[00:11:26] the kids. This is about the pensions. This is about pensions. It's about the administration.
[00:11:31] It's about, it always has been, they've always put on a stage and, and, and shown the teachers,
[00:11:37] oh, you want your teachers to have more money. So they're constantly trying to get people
[00:11:41] to okay these, these amounts for the teachers, but the money doesn't really go to the teachers.
[00:11:45] It always goes to the administration usually. Right. And that would be lying and forcing people
[00:11:50] to act under duress. Whoa. Okay. So when we come back, let's, I want to talk about that again.
[00:11:56] I also want to talk. So this is all about your property tax and this huge grift that's going on.
[00:12:02] Grift isn't a good word because it's theft. It's just straight up theft, plunder. And this is going on
[00:12:09] in over, over 3,100 counties in America. So pretty much almost all of them. And they rate,
[00:12:16] they, they create a budget and they make sure that the valuation of your property somehow meets
[00:12:21] that budget number so that they can pretty much screw you for these taxes so that they can get
[00:12:28] their budget amount for set budget. Okay. So it really has nothing to do with the valuation of
[00:12:33] your property. It's how to utilize the valuation of your property to get what they want in over 3,100
[00:12:39] counties in America. I have Mitch Vexler with me from Denton, Texas. He is suing by the way.
[00:12:45] Be right back. Kate Daly.
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[00:14:41] This is the Kate Dally show.
[00:14:44] This land is your land is my land to the New York.
[00:14:56] All right. Welcome back to the Kate Dally show. And of course my guest, big show today. I told you,
[00:15:03] um, this land is your land, by the way, on the song of my guest, Mitch Vexler. And let me,
[00:15:09] let me say this. Um, first of all, go to Patriot dot TV forward slash Kate. You can get Kate gear,
[00:15:15] uh, for Christmas. You can get, um, the Nimi skincare I always talk about, but what a great,
[00:15:20] uh, what a great place to go and do a little shopping. They have the mugs, the hats, and,
[00:15:25] and they even go, I think as high as three X. Anyway, uh, you can get, uh, sweatshirts and
[00:15:29] hoodies with the show sayings on them to support the show. I really appreciate that from you.
[00:15:33] So Patriot dot TV, uh, forward slash Kate, and you can actually watch the show on Patriot dot TV
[00:15:39] every night. Um, I have Mitch Vexler with me, you know, Mitch, um, I've noticed everybody's been
[00:15:46] noticing even my own governor, um, who Tucker Carlson makes fun of all the time as a mini
[00:15:51] Gavin gruesome. Okay. In the state of Utah. And, um, and he's, he's, he's quite deplorable, but he,
[00:15:57] he was basically threatening all the counties in Utah that they better up their affordable housing.
[00:16:03] How does the affordable housing fed scammer Rooney, um, come into this issue with the appraisal
[00:16:11] amounts and how does it factor in? Okay. There's two levels that we're dealing with. We're dealing
[00:16:18] with federal dollars on low income housing tax credits, which banks buy those low income housing
[00:16:26] tax credits to shelter their income. That's on one level. Okay. On another level, the municipalities
[00:16:32] will say, well, we'll offer an incentive. It could be a through a TIF tax incentive financing. It could
[00:16:38] be all, they've got multiple levers that they can pull economic development commission, et cetera,
[00:16:43] et cetera. I saw a case just this week where 100% of the cost of this property at 103 million
[00:16:53] was financed by two different levels, be it both state and federal. Then it goes up to a different
[00:17:00] level. So let's call that the A bucket. Now let's look at the B bucket under HUD. Well, HUD is part of
[00:17:06] the scam. So we've looked at the 221d4 program. A lot of developers use 221d4 because they don't have
[00:17:13] the equity. So they put in 15% equity allegedly, and then they use the 221d4 program to buttress another
[00:17:22] 15%. So it appears to the public that they've got 30% equity in the transaction. The problem is that
[00:17:30] that's done using bonds. So the illusion is that the bonds create what would be deemed class A paper
[00:17:38] that is sellable. So, and it's backed by HUD. The reality is it's all a scam because it's being
[00:17:46] done for the purpose of the developer not having enough initial equity. Here's the net result and
[00:17:51] why it's not good. On one hand, you say, well, it helps development. It helps get things going.
[00:17:56] That's true. But the reality is, do you know that under a HUD project, the cost to build a HUD
[00:18:02] project, low income housing, or even if you say it's market rate housing, that's perfectly fine.
[00:18:07] So let's call it a B caliber new construction multifamily. That cost to build that is 15 to
[00:18:14] 20% higher than I can build class A for on the same property and deliver a better caliber property.
[00:18:22] Damn. So they're just raising the level ultra high. Well, it's worse because the market rate. So if I
[00:18:30] build a new class A unit right now today, including a cement parking garage, that would cost me about
[00:18:35] 325,000 a unit. This deal that just went off that I mentioned at 103,000 was 630,000 per unit.
[00:18:44] So, okay. Now 630,000, just so you understand how crazy this is, that requires 6,000 a month in rent.
[00:18:53] Jeez.
[00:18:54] Okay. What low income housing project do you know, or per unit? I don't care. Call it a project,
[00:18:59] call it per unit. It doesn't matter. What low income housing unit do you know that can afford
[00:19:04] 6,000 a month?
[00:19:05] Yeah, they can't.
[00:19:06] So they can't.
[00:19:07] Are the counties, are the county budgets with, if you have a really high county budget,
[00:19:12] then do the feds do less than affordable housing or more than affordable housing? Because I've seen
[00:19:16] this huge push by, I mean, cities and counties throwing up this affordable housing like it's
[00:19:22] going out of business. I mean, just throwing it up in every single county. Are they rewarded
[00:19:26] by the feds in the scheme? Does their budget have anything to do with it?
[00:19:31] Yes. This is a cacophony of fools. I mean, at the tail end of the day, this is exactly what is
[00:19:36] happening. So the federal government or this current administration, well, we have to do this because
[00:19:40] we need more housing. You wouldn't need more housing because the market would look after itself
[00:19:45] if you weren't monkeying around with the bonds in the first place. And that's why they literally
[00:19:50] have created it. It's a circle, right? It's literally, it's a loop of doom. When you keep
[00:19:57] inflating this stuff, you get to the point where it's no longer affordable. And then the whole thing
[00:20:01] blows up and the bonds aren't worth toilet paper. And by the way, I figured out that the current
[00:20:06] bonds at the school districts, give or take, are worth somewhere between 13 cents and 30 cents on the
[00:20:10] dollar. Okay. We're going to come right back on that. More with Mitch Vexler, Kate Daly Show.
[00:20:14] Stay with me.
[00:20:24] Now.
[00:20:25] Hey, everybody go to patriot.tv forward slash Kate. Why? Because they have Kate gear. I'm not joking.
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[00:20:39] Go to patriot period TV. Okay. So there's no.com. It's like patriot period TV forward slash Kate.
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[00:21:35] This is the Kate Daly show.
[00:21:44] All right. Welcome back. Yes, I know the song was written by a socialist. I get it.
[00:21:49] You don't have to email me. I always get emails telling me, uh, I get it. This land is your land.
[00:21:54] Uh, so welcome back. Kate Daly show. I have Mitch Bexler on with me, who is a big whistleblower,
[00:22:00] has a litigation going on and hopefully it gets the Supreme court about these issues that we're
[00:22:06] talking about today. And, um, just wanted to mention all family pharma.com all family pharma.com
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[00:22:50] Kate 10. I'm losing my voice. Obviously I've got Mitch on with me. There's a couple of questions.
[00:22:57] So let me lay this out again, because, um, I think everyone's trying to kind of understand how all this
[00:23:03] works. The County gravitates towards this budget. They put this budget on paper that they want.
[00:23:09] They've got to have all of our valuations of our homes for, for property tax, meet that number,
[00:23:14] that golden number. And so what they do is they inflate the property taxes to meet designated
[00:23:20] budget number. They screw you and I over so that we're paying more taxes and paying any tax at all
[00:23:27] on this, but more taxes every year, right? Inflating the valuation. They also get a carrot basically
[00:23:34] for doing this affordable housing. And you enter in this fed program, HUD program, which is so scammy
[00:23:43] and so thefty. And so there's a carrot there for the counties to do that as well. Right. And so all of
[00:23:51] this money that they're collecting is going into these bonds where further money is hidden because then
[00:23:56] of course, my next question is going to be about BlackRock and the bigger picture of this.
[00:24:03] So Mitch, so is that right? Am I laying it out right?
[00:24:08] For the most part. Yes. What am I getting wrong?
[00:24:11] Yeah. The issue with BlackRock is what is BlackRock? So BlackRock is a, let's call it a shell
[00:24:19] and that shell holds money and it's a stock market company. So it has shareholders and it has
[00:24:27] investors, pension investors. So BlackRock goes and it is now buying what's called single family
[00:24:34] rentals. And in some cases, I think it's actually building them.
[00:24:38] It even has a Fink at the top. Larry Fink is his name. Sorry. Go ahead. Go ahead. Yeah.
[00:24:42] So they buy these rentals. Right. And so they're really in the rental business. Now, just like you
[00:24:48] and I, or anybody that buys a house and says, okay, we want to rent it. They're really no different.
[00:24:54] They're just doing it on a much larger scale. So as a shell entity, that's not where the problem
[00:24:59] is. Where the problem is, is when the market reverses, which it will, and the values come down
[00:25:07] because of the hyperinflated values where we are today. So if you can simply say our target is five
[00:25:14] years back, do you realize that that's a 50% drop in house values from five years ago?
[00:25:20] That's how inflated it was. Okay. Go ahead.
[00:25:23] Right. Now, if you're a pensioner and you've invested in BlackRock and BlackRock took your money
[00:25:29] and ran it into single family residential homes on a mass scale, where do you think you sit?
[00:25:36] You're about to get a 50% haircut. Now let's look at it from the standpoint of the school districts.
[00:25:43] The school districts in many cases are bond underwriters themselves. So they issue bonds.
[00:25:50] Who buys the municipal bonds? Well, Morgan Stanley's got pension money. So they come along and say,
[00:25:55] yeah, we'll invest in your school bonds, except for one problem. See, at a single family rental home,
[00:26:03] you got an asset. At a school district, you've got zero assets. The school buildings aren't worth 10
[00:26:09] cents. I know this because I bought them. And you buy them to tear them down. You get the land. That's
[00:26:15] true. But what are the real assets of a school? For all intents and purposes, zero.
[00:26:21] So what's backing the bonds? Nothing. So how did the bonds get raised? Who did the due diligence?
[00:26:28] Did Morgan Stanley do the due diligence under the hood to find out that the central appraisal
[00:26:32] districts are committing fraud? No. Did BlackRock do any due diligence under the hood to find out that
[00:26:42] the central appraisal districts are committing fraud? No. Why not? Because they're part of the scheme.
[00:26:47] Right? The more money that gets pumped at them, what's the real business? The real business is
[00:26:52] managing money. So they get paid a percent. It's called two and 20. Two and 20 is 2% of assets under
[00:26:59] management. 20% is if it makes money, I get my 20%. They don't care if it makes money. They don't care
[00:27:07] if you, the investor, makes money or loses money. They could care less. They get their fee. Their
[00:27:12] two percent is clipping away. If you've got a trillion dollars at two percent, you're sitting
[00:27:16] fat and happy. Yeah. Yeah. For sure. For sure. So the counties are enabling this. They are the ones
[00:27:23] that are enabling it by getting what their gain is out of it, right? And more money in the budgets,
[00:27:29] right? And then this money goes to bond. Can you please describe what a bond is for those that don't know?
[00:27:35] Well, a bond is a way to lever up a cash flow. So the school districts believe that mom and pop,
[00:27:44] and I created this term, I use implicit guarantee because it was the only way I could really describe
[00:27:50] it. Sure. So the school districts believe that you, mom and pop have given them an implicit guarantee
[00:27:55] to rip you off. That's what this comes down to. So they take what they're ripping off from you.
[00:28:00] Let's say for the sake of conversation that it's a thousand dollars over and above. So that thousand
[00:28:07] dollars, they lever that up 20 to one. They can now go out and raise money. It's like, it's like a
[00:28:13] reverse mortgage. So they go out and they raise money. And then in theory, they're supposed to
[00:28:18] pay it off just like you would on your own mortgage and an amortization schedule. However, they're not
[00:28:23] doing that for the most part. This is the reason why I've been saying turn over the bond schedules and
[00:28:27] show, show what it is you have paid off. They can't, and they won't because it will prove the
[00:28:32] fraud. Well, if they don't pay it off, what are they really doing? The rolling the bond debt up and
[00:28:40] the rolling the interest rate on the bonds out. Meaning what you now have is compound cumulative
[00:28:47] debt, which is why they keep pushing these values up. And that's why I'm saying we're at the tipping
[00:28:52] point. You can't go any further. Your balance sheets are not collectible. Your assets in the
[00:28:59] case of the school district is non-existent. And what we just saw at the Terrant Appraisal District
[00:29:05] five weeks ago, when all these school districts showed up and said, you must continue to raise
[00:29:10] the values or we're bankrupt. No, you're bankrupt today, not tomorrow, today. So that's why they're
[00:29:18] pumping. And that's why they keep literally saying, well, you've got to give us more, give us more,
[00:29:22] give us more. But the problem is right now today, at least in the case of Denton's based on the
[00:29:27] denominator, which is the median household income, 30%, give or take of your population is in harm's
[00:29:33] way of losing the roof over their head or going bankrupt. And as I've been saying, when you make
[00:29:40] people desperate, they will do desperate things. They have pushed this so far that I'm afraid that the
[00:29:47] chaos will start. And I don't want to see that happen for obvious reasons. It doesn't do anybody
[00:29:51] any good. But the reality is you're literally taking the roof over people's heads. And that is why the
[00:29:59] real estate taxes must be eliminated. This isn't an option. If you want to restore credibility, you have
[00:30:05] to go to a uniform state's sales tax and make the playing game fair for everybody. Right. You don't get to
[00:30:13] pick and choose winners. But this is why county commissioners, all of the people in government
[00:30:19] over this will never say that. They don't want to lose the grift. They don't want to lose the left.
[00:30:24] But the problem is in state law and in federal law, you are deemed to, if the court says you are the
[00:30:33] person who is deemed to have knowledge, especially when we're out here telling you the law is being
[00:30:37] broken and you choose to do nothing about it. Yeah. Under federal law, you are a guilty party.
[00:30:45] And this is what's coming down right now in the case of Itasca school district in Texas.
[00:30:50] This is a big deal. FBI is involved. They, the school district there decided to fund two 2,000
[00:30:56] acre solar fields. What the hell's a school district doing funding solar fields? Exactly.
[00:31:01] Nevermind 2,000 acre solar fields. Oh my gosh. We're going to, we're going to come right back.
[00:31:06] We'll talk about that. We'll be, we'll be right back. Kate Daly show more with Mitch
[00:31:10] Vexler from mockingbirdproperties.com. Be right back. Kate Daly show.
[00:31:36] This is the Kate Daly show. All right. Welcome back. Kate Daly show. I know we need like five more
[00:31:50] hours with Mitch. Uh, Mitch Vexler joins me from Denton, Texas and, uh, mockingbirdproperties.com.
[00:31:58] You can go there for graphs and charts and more info and dialing in on the details and specifics. Okay.
[00:32:03] So I just want to lay this out again, because it's really, I think it's kind of hard for people,
[00:32:08] uh, all across the board to understand this ginormous theft that's happening in America right
[00:32:15] now. So I have noticed through 14 years of radio that the cities have like, say a hundred thousand
[00:32:21] people, but their budgets are like 550 million. Okay. Which doesn't compute, doesn't add up.
[00:32:28] A lot of the money is hidden in future real estate projects, future land acquisitions, future,
[00:32:34] future, future. It's all they ever talk about to get reelected and it's all in capital projects.
[00:32:39] Okay. So lots of money I feel hidden, hidden, hidden, hidden. Then you have the counties setting
[00:32:45] these budgets and then making sure wink, wink that the properties add up to said budgets, which
[00:32:52] it doesn't, but somehow magically magically delicious. It just does. And all of a sudden
[00:32:58] you're paying this huge amount of property tax that you should not be paying. It's not legal,
[00:33:03] but it meets the specific number of budget. On top of that, you have the feds coming in with
[00:33:08] affordable, affordable, it's government housing utilizing HUD, which is a total scam and money
[00:33:14] laundering post. I think the money goes in. No one ever really knows where all the money's going.
[00:33:18] And then the money is inflated again. It's all inflated in bonds. Okay. The schools are not,
[00:33:25] the budgets there are not about your kids. It's about pensions. You have the other layer of black
[00:33:31] rock on top of this, buying up real estate. And then also on these bonds, on these pension bonds. Okay.
[00:33:38] And inflating, inflating, inflating, which is going to lead to mass homelessness when the bottom drops out.
[00:33:47] So what, what, okay. Is there anything you want to comment on any of that? Cause I'm watching city
[00:33:52] budgets, hyperinflated. I'm watching county budgets, hyperinflated. What happens? What's next?
[00:33:58] Well, mom and pop have to understand that all real estate is local. So everything you said
[00:34:09] is correct. Okay. Regardless of whether black rock is going to, is the devil or not, that's kind of
[00:34:15] not the point. It's the bonds and it's the pensions that have invested in black counties and cities
[00:34:19] enabling this in the States. They're all enabling it, but they also, for the most part, can't read a
[00:34:25] balance sheet. They haven't got a clue what they're looking at. They're just going along with the idea of
[00:34:29] getting along and they don't even understand what the ramifications of their actions are. And that's why
[00:34:35] we are at the tipping point. There is no more math left to support the drug addicts. They have been,
[00:34:41] become addicted to the implicit guarantee of mom and pop to the point where they have stripped
[00:34:46] their equity. And then mom and pops equity is going to get stripped again, because if they have a
[00:34:52] pension and they buy school bonds, the bonds are somewhere when all said and done, probably worth
[00:34:58] between 13 cents and 30 cents on the dollar. No, nobody knows the truth, but there's no assets backing
[00:35:04] them up. That's the point at the school districts. So mom and pop are going to get shafted no matter
[00:35:09] how you look at it, because all these entities are doing what they're doing. They wouldn't have to be
[00:35:15] pumping these values if they were telling the truth. If they looked at real income statements and said,
[00:35:20] okay, this is the value of this property based on this income statement, that's fine. But they didn't
[00:35:23] do that. They've jumped the shark. What they've done is they've added so many layers of multiple
[00:35:28] debt on top of debt, nevermind paying off the prior bonds. So it's cumulative and it's compounding.
[00:35:36] So you have a mortgage on your house. Most people have mortgages on their house and you pay that off
[00:35:41] over 30 years. Mom and pop in today's world can't do that. And then I just finished a spreadsheet a
[00:35:47] couple of days ago. It's not public yet, but it proves that if you invest in a home, you will,
[00:35:53] if at max at best, you'll make 1% on your money. Jeez. That's how perverse this has gotten out of
[00:35:59] hand. And everyone has a hand in the cookie jar to, to give their office or their government entity
[00:36:07] more and more and more inflated numbers on with this budget. And this is why it's so high as
[00:36:13] everyone's got their little hand in to get their exceeded budget amount. Yes, absolutely. And there
[00:36:19] is no math to pay for this. Like the values have gone up 21.25 trillion in five years. That's the
[00:36:26] overvaluation. That's not the valuation. That's the overvaluation. Okay. And that is why 450 billion
[00:36:34] was taken from mom and pop over and above the valuation in 2024 alone. So this is cumulative
[00:36:42] compounding the government, like your, your taxing entities, your school districts, they're not paying
[00:36:47] this debt off. Right. They're the reverse of your mortgage, your mortgage. You can pay it off over 30
[00:36:53] years. Right. This is cumulative compounding in the other direction. And then you add on the rule of 72
[00:36:59] that basically says your debt, depending on the interest rate is going to double in the next seven years.
[00:37:06] We're at the tipping point. This is game over, whether it happens this year, next year, nobody knows.
[00:37:11] But mathematically speaking, the school districts are bankrupt. As I've said today, not tomorrow today.
[00:37:16] Oh my gosh. There's a course. Can you please tell people about this?
[00:37:21] Travis Spencer with real estate mindset created a free course. It's on teachable. And what it does
[00:37:30] is it will walk people through it's 40 chapters and it's, you can get through it fairly quickly,
[00:37:34] but it will teach people how to go and find in their neighborhood true comparisons. So that when they go to
[00:37:42] the ARB hearing, the appraisal review board hearing, they have true comparisons rather than relying on
[00:37:48] the central appraisal district that is going to lie to you and say, well, these are the comparisons.
[00:37:52] And by the way, that is exactly what the central appraisal district will tell the ARB board.
[00:37:56] These are the comparisons.
[00:37:58] Yeah. Because it's the government's own system. Yes.
[00:38:00] Yes. Plus it's also overwritten by hand on top of it. So the point of the matter is whatever's
[00:38:05] coming out of their mouth, you can pretty well bet isn't true. Right. And therefore they, by the way,
[00:38:10] they do not have the unilateral right to pick the comparisons. There's no law that says that.
[00:38:14] So therefore you're better off going in with true comparisons, meaning here's the pictures,
[00:38:19] here's the neighborhood, here's the improvements on the house. And then you have an argument
[00:38:24] appropriately and calmly to make at the ARB hearing. They're not your enemy. The ARB
[00:38:28] isn't there isn't your enemy. They don't know what they're doing because this is what they've been
[00:38:32] taught. So in other words, the central appraisal districts have morphed them into doing the bidding
[00:38:38] for the central appraisal districts, even though allegedly they're there to help mom and pop.
[00:38:43] I see. I see. And what's the guy's name again?
[00:38:46] Travis Spencer.
[00:38:47] Travis Spencer.
[00:38:48] And it's real estate mindset. It's unteachable. It's really good.
[00:38:51] Okay. Because if people started suing, if people started doing this all over the country,
[00:38:56] we actually could make some headway on this.
[00:38:59] It's always we, the people, the answer. Yes. Government's not going to correct themselves.
[00:39:03] It's a hundred percent local. If you're so inclined to file suit because you've got a little bit of
[00:39:07] money, find an attorney who can add one-on-one and understand what the math is and that it's not
[00:39:14] just the law. You have to argue the law and you have to argue USPAP. When you put those two things in
[00:39:20] combination, they cannot win. The facts are the facts. They have committed fraud. That is irrefutable.
[00:39:27] We've got the evidence and we've got multiples of evidence across the United States now.
[00:39:32] Over 3,100 counties.
[00:39:33] So never mind what we've done in Texas. This is everywhere.
[00:39:35] Over 3,100 counties. And you can go to Mockingbird Properties for more specific,
[00:39:41] more detailed information on this. My biggest thanks to you, Mitch, for whistleblowing on this.
[00:39:46] Thank you.
[00:39:47] Yeah. If somebody wants to go to the website, mockingbirdproperties.com forward slash DCAD.
[00:39:54] And if there's any attorneys or accountants that want the super heavy information,
[00:39:59] send me an email and I'll give you the password to the backside of the front page.
[00:40:03] The front page is really put together for mom and pop. It's a lot, but it's all there.
[00:40:08] Thanks, Mitch. Mitch Bexler. I know you're, you're probably reeling.
[00:40:11] All right. Kate Daly radio.com for the podcast of this hour.