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(1) Why We Need Property Tax Reform NOW

October 9, 2007 -- Although the following was originally written in 2005, it remains very much still the case in New York State. For many property owners, the property tax crisis has grown only worse in the last several years. If you understand the urgency of the property tax crisis in New York, you may want to click here to go directly to " (10)Breaking news and recent events" or ... perhaps

click here to go to "(11)Property Tax Reform Initiatives in the State Legislature".

Property taxes have grown to be an increasingly large financial burden for many citizens.  People who are retired, disabled, unemployed, or of modest income may find it difficult or impossible to secure the funds needed to pay their ever-increasing property taxes. In our society, when people lose income, their income taxes go down – which is the way it should be. But property taxes just seem to go only up and up and may bear no resemblance to a property owner’s ability to pay. People have actually lost their homes because of inability to pay their property taxes.

In our society we normally don’t tax assets on an annual basis. People own fancy and expensive mobile homes, vacation trailers, yachts, and airplanes -- and pay no annual taxes on them. These possessions and other assets like stock  are taxed only when sold, at low “capital gains” tax rates – if they are taxed at all. Thus, while there aren't any personal property taxes on such luxury items, we are forced to pay annual real estate property taxes on the very homes we live in, without consideration of our income or ability to pay the tax!

For people on limited incomes, property taxes may consume 10% or more of their entire gross annual income – EACH YEAR, year in and year out. For some people, their annual property tax may be more than twice what they pay in federal income tax.

The administration of the property tax system in New York State is a complex nightmare. Even highly trained assessors find it very difficult to fairly and equitably assess properties, even within the same community. Different communities reassess at different time intervals, with some communities (such as Essex County, NY) insisting on reassessment at 100% market value every year while other communities allow years or decades to pass before reassessing. “Equalization rates” between communities that are intended to correct for inequities in the system seem out of touch with reality. Property owners are confused as to whom to blame when property taxes seem to only go up, up, up and they feel that their taxes or tax assessments are unfair and not uniform.

October 9, 2007 -- Two years ago -- in 2005 - over 450 Ticonderoga area citizens signed a petition to the Ticonderoga Town Board demanding property tax reform. The Ticonderoga Town Board in turn signed a unanimous petition to the governor and legislature calling for property tax reform. Click here to go on to (2) The History of the Property Tax reform Initiative in Ticonderoga OR click here to go to (8) What's the Solution and What Can I Do?

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