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Capping property tax hikes would help working families

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During this period of rising fuel, pension and health care costs, New Yorkers, especially middle-class and working families, need tax relief. That is why I support a property tax hike cap, endorsed by both Gov. David Paterson and a tax-relief commission. It is a shame that Albany has blocked this common sense proposal, bowing to lobbyists and special interest pressure.

New York's property taxes are the country's highest at 79 percent above the national average. New Yorkers live with one of the highest costs of living in the nation. Given our current economic uncertainty, middle-class and working families are feeling the crunch. After years of rising taxes, now is the time to finally cap property tax increases.

Limiting local property tax increases to under 4 percent a year is essential as part of a broader tax relief and economic revitalization plan. Lowering taxes on small businesses, entrepreneurs, the middle class and working families is vital to attracting good-paying jobs and keeping younger, educated workers from leaving New York, as it has become too expensive for many to live here and raise a family.

Having created hundreds of jobs as a small business owner and founder of the local business improvement district, I know what it takes to make our economy grow in Queens and throughout the state. Economic development, enterprise zones and tax relief are what New York needs. Most importantly, it is clear that New York's over-taxed taxpayers deserve better from Albany than politics as usual.

Peter Koo

16th State Senate District Candidate

Flushing

Posted 6:40 pm, October 10, 2011
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