112th Assembly District Candidate says trifecta of tax cap, cutting state spending, and circuit breaker will ease high property taxes and help end New York's fiscal crisis

In anticipation of Governor Paterson's address on the state's fiscal crisis, Tony Jordan, candidate for the 112th Assembly District (Saratoga, Rensselaer and Washington Counties), today began the conversation by unveiling his Middle Class Property Tax Relief Plan which consists of passing a property tax cap, circuit breaker and reducing out-of-control state spending.

"As the Governor and leading economists acknowledge, we are in the midst of the worst economic tsunami since the Great Depression. State spending has increased at an unsustainable rate, and property taxes have spiraled out-of-control with no end in sight. People and jobs have fled our state in droves - so why can't the Albany politicians figure this out?" said Jordan.

"There's been a lot of debate about which property tax relief plan is best. Should we cap taxes, enact a circuit breaker or just reduce spending," said Jordan. "This choice doesn't have to be so hard; I say why not play the trifecta and do all three?"

"The best and fairest way to reduce our tax burden today and for the future is for the Legislature to cut-up the state's maxed-out credit card by reducing spending and passing a cap on property tax hikes," said Jordan. "We also can help residents on fixed incomes by enacting a limited form of a circuit breaker to provide immediate tax relief to homeowners who pay a high percentage of their income on local property taxes."

A recent report by the Tax Foundation shows that New York's counties hold the dubious distinction of being home to the highest tax rates in the country. According to the state Comptroller's Office, local property tax levies in the state grew by 60 percent from 1995 to 2005, more than twice the rate of inflation.

Jordan's Middle Class Property Tax Relief Plan caps property taxes from increasing by more than the rate of inflation. Local voters will always have the opportunity to override this limitation by a two-thirds majority vote.

"The Governor supports a tax cap as do Senate Republicans, Senate Democrats and Assembly Republicans," said Jordan. "The last holdout is the Assembly Democrats who still refuse to return to the Capitol to get back to work. I am hopeful that my Middle Class Property Tax Relief Plan will break the logjam in Albany over what plan is best by taking a holistic approach to the issue and saying each has real merit."

"Families who plan their budgets and seniors who live on fixed incomes deserve relief and the peace of mind that their tax rates will remain stable and more predictable," said Jordan. "What they don't deserve is more excuses from Albany politicians as to why their property taxes are not being cut. It's time for New York to be a leader in reducing taxes not raising them. I know that together, we can restore our state's fiscal health."