So the poor must pay!
On the other end of the wealth spectrum, the Walker budget reduces by $41.3 million the Earned Income Tax Credit and by $8.1 million the Homestead Tax Credit, two programs that benefit lower-income individuals.”What Walker is doing is lowering taxes on the wealthiest and raising them on the poorest,” says Norman.
Property taxes must be cut!
The budget does include new limits on property tax increases. Walker estimates the controls would save the owner of a home valued at the state median price of $161,300 about $736 in property taxes over the next two years. (emphasis mine)
Our home is quite a bit below the state median price, but for the sake of argument let’s just say my house was worth the median value. That means I’d save $368 a year (by my property taxes not going up…not that they’d be cut from current levels). Our property taxes are included in our mortgage payment. My husband is paid bi-weekly so we spread out those mortgage payments over 26 pay periods. Using the example given in the article we’d save…are you ready for the HUGE amount? $15.33 a paycheck. Oh boy! Let’s put on the dog, children, Mama’s gonna be rolling in the dough!