Many homeowners typically pay their property tax bill using escrow, with a monthly installment included in their mortgage payment to help settle the bill in December. A Republican candidate for governor wants to give them another option.
The proposal from former Congressman Mark Neumann would give property owners the option to switch to a monthly payment plan directly to their municipality, starting in 2012. If they agree to the change, Neumann wants to give allow them to keep all of the money they owe on their 2011 tax bill.
Neumann says the plan would amount to a onetime tax cut of up to $11 billion. He says that money could be used stimulate the economy and create jobs, as that money is spent in Wisconsin.
The change would be permanently tied to that property, so any future owners would continue to pay their tax bill monthly. Neumann says that would be necessary to prevent any shortfalls in tax payments down the road.
Republican Scott Walker, Neumann’s main primary opponent, says the proposal is a “complete farce” because it does nothing to address the real problem of lowering property taxes.
