Objective

To protect the fundamental right to true homeownership by eliminating annual property taxes for New Yorkers who have fully paid off the mortgage on their primary residence. If you own it, you own it. No more endless ransom payments to the government for what you already bought and earned.

Why This Needs to Be Done

• New York State ranks #5 nationally for highest property tax rates, averaging 1.72% statewide and exceeding 2.2% in Long Island counties.
• Homeowners often continue paying $12,000 to $15,000 annually even after mortgages are fully paid off.
• For seniors and working families, property taxes frequently exceed former mortgage payments.
• Over 60% of homeowners over age 65 live on fixed incomes, making rising taxes a direct threat to stability.
• Nearly 1 million residents have left New York over the past decade, with high taxes being a major driver.

Bottom line: Homeownership is supposed to mean security. Today, it’s a government lease disguised as ownership.

Financial Impact Example

A typical Long Island homeowner with a $500,000 house, after paying off their mortgage, still faces $10,000–$15,000 annually in property taxes. Over a 20-year retirement, they will pay another $200,000 to $300,000 just to stay in the home they already own. This is equivalent to the cost of purchasing another home.

Historical Context

Property taxes were originally intended to fund local services based on land use and development, not to penalize families for achieving the American Dream. Today, the system acts as a permanent financial burden on responsible homeowners.

The Moral Argument

No New Yorker should be forced to sell their lifelong home or enter debt to satisfy never-ending government demands. Homeownership should reward sacrifice, not punish it. True ownership means freedom.

Key Provisions

• Eligibility: Primary residence, mortgage fully paid off, no major code violations or unpaid taxes.
• Exemptions Apply To: Single-family homes, owner-occupied condos/co-ops, mobile homes on owned land.
• Local Revenue Protection: Redirect a small portion of state sales and tourism taxes to municipalities to cover lost revenue.
• Inheritance Clause: Heirs maintain exemption if the property remains their primary residence.
• Simple Opt-In: One-page application; no legal or accounting assistance required.

Expected Opposition

• Local Governments: Concern over loss of property tax revenue.
• Big Banks and Real Estate Lobbyists: Financial interest in forced turnover and refinancing.
• Career Politicians: Resistance to reducing government income streams.

How We Overcome It

• Sales and Tourism Tax Offsets: Utilize a portion of New York’s $1.1 billion tourism surplus and excess sales taxes to support municipalities.
• Emphasize Stability: Keeping seniors and families in their homes reduces homelessness and economic displacement costs.
• Public Pressure Campaign: Mobilize homeowners across all political affiliations.
• Clear Messaging: True ownership means ending endless government ransom payments.

Leading the Nation

New York can become a national leader by demonstrating that true homeownership is achievable without sacrificing local stability. When New York leads, others will follow.

Conclusion

Owning a home should be the foundation of the American Dream, not a lifelong financial trap. Under Jason S. Arnold’s leadership, New York will lead the nation in restoring real homeownership rights:

🗽 “In New York, when you pay for it — you own it. Period.”