Assemblyman Michael Fitzpatrick (R,C,I-Smithtown) and the Assembly Minority Conference held a press conference Wednesday to introduce legislation to limit the increasing high property tax burden on homeowners and businesses. The “Property Taxpayer Protection Act” would limit the growth of property taxes to 4% or the rate of inflation, whichever is lower, and provide measures to control spending and reduce unfunded mandates. “Rising property taxes have eroded our competitive edge, and forced over a million residents to flee the state over the past seven years,” said Fitzpatrick. “We need to fundamentally change our property tax system by providing the necessary initiatives to alleviate the tax burden, limit unfunded mandates, and rein in spending.”