Assemblyman David G. McDonough (R,C,I-Merrick) today provided Nassau County homeowners with a plan designed to save them money on their property taxes. The plan would save homeowners approximately $1,000 annually, and seniors nearly $1,500.

“Property taxes are the number one priority, because they are out of control,” said McDonough. “Homeowners, especially seniors, are forced to make decisions they should not have to about their homes. Those decisions include whether they can afford to remain or buy a home on Long Island. That decision is one that nobody should be forced to make because of skyrocketing property taxes.”

The plan provides significant property tax relief for all New Yorkers while enacting property tax policies to provide long-term relief. McDonough said his plan includes School Tax Relief (STAR) program enhancements, reforms to halt Medicaid waste and fraud, and restoration of state aid to school districts.

The plan includes:

• Creation of a STAR Excelsior program. STAR, created in 1997 to provide school tax relief, has not kept pace with current property tax rates and home values. An additional $1.75 billion in tax relief would be realized by indexing the Basic and Enhanced STAR exemptions to the current median housing value. This would increase the current exemption by 70 percent.
• Providing $72.86 million in restoration aid to school districts. Many school districts throughout the state years ago sustained cuts to their state operating aid allocations. This means school districts today operate with less state aid or have passed the increased costs on to property taxpayers.
• Medicaid reforms. Fraud, waste and abuse cost New York taxpayers nearly $4.5 billion annually.
• Placing restrictions on unfunded state mandates because they require school districts and localities to increase their tax levies on property owners.