How much will I-1098 save you?

SEATTLE -- With Labor Day in the rear-view mirror, the election campaign is kicking into high gear.

Experts predict that the battle over an income tax will leave you bombarded with commercials.

I've been checking the facts in the first ads from the "Vote Yes" campaign: Bill Gates Senior smiles and says, in effect, I feel your pain.

He understands middle class families are struggling.

The ad makes this promise: "1098 will cut state property taxes by 20 percent."

That's true. I hope you were listening closely. It doesn't say your bill will go down 20 percent.

"If you look at our 1098 website, all our material, the one-pager, the FAQ, the stuff we hand out at every event, it says explicitly there the average homeowner is going to save $180 a year," said Sandeep Kaushik, who supports I-1098.

Lea King expected much more.

"$160 -- really?" she said. "So what is the 20 percent. It is not on the total amount," said King, a homeowner.

Here's what you need to know. State property taxes are 21 percent of your total property tax. Cutting that 20 percent means dropping your tax about 4 percent.

Based on average home values, you'll save $154 in King County, $95 in Pierce County, $115 in Snohomish County and $94 in Kitsap County.

As for the other claims made by Gates, a state financial review agrees the income tax will generate $11 billion in five years for schools and health care.

The average worker won't pay the income tax. The state guess is that only 38,400 people - the richest of the rich - will pay the income tax.

This ad is true. But always listen closely.

Between now and November, the two sides will spend millions on the income tax proposal. And we'll keep a close eye on their ads.