No. It would freeze/reduce property taxes to a defined level.

Next. They have a developed a rather complicated mathematical formula that distributes a new Earned Income Tax. The formula is based on household income and some other factors and is distributed unequally to districts based on those factors.

This idea has been around for a long time.

The average property owner would not less in property taxes and more in earned income taxes - almost making it a “wash”.

This with high income would pay significantly more.