Assemblyman David G. McDonough (R,C,I-Merrick) joined his minority colleagues on ‘Tax Freedom Day’ to unveil his ‘Property Taxpayer Protection Act,’ which aims to reduce the property tax burden on homeowners and businesses by controlling spending and capping tax levy increases to slow the dramatic increase in property taxes.

“It is time for the majority in the Assembly to take the issue of property tax relief seriously,” said McDonough. “New York’s property tax burden has eroded our ability to be competitive in the national and global economy. We are forcing homeowners and businesses to flee the state for more affordable living opportunities in other states, and if this trend is allowed to continue unchecked we will lose our prestige as the ‘Empire State’.”

The ‘Property Taxpayer Protection Act’ includes the following measures:

• Preventing school districts from increasing tax levies more than 4% each year unless overridden by voters by a 2/3 majority vote;
• Requiring any state mandate imposed on a locality costing more than $10,000 to be funded by the state; and
• Creating an Office of State Inspector General for Education to ensure proper spending by school districts.

Modeled after the successful Massachusetts Proposition 2 ½, the ‘Property Taxpayer Protection Act’ looks to achieve similar results. While Massachusetts once had the highest property taxes nationwide, the adoption of measures like the property tax cap has lowered its rank to 32. More importantly, limiting the growth of property taxes did not endanger education. Massachusetts currently has one of the top five best educational systems in the nation.

According to the Tax Foundation, an individual’s tax burden is a greater financial liability than the basic cost of necessities such as food, clothing and housing combined. The average American worked 120 days in 2007 to pay this year’s tax obligation at the federal, state and local levels; New Yorkers have to work 136 days.