Middle-class homeowners are being devastated by the present property tax system – we need an immediate freeze on all increases in property taxes for properties worth less than $1 million. Further, we need an annual cap of 2% growth on all property tax collections, which we can work with Albany to pass. We need to scrap the present assessment system completely and use real, present-day market values to realign the entire system. As well, NYC small businesses are feeling the pain of higher property taxes, forcing so many places to close when new, more expensive, leases are offered. Property owners with small businesses should not be paying additional taxes for providing a space for the local businesses that employ, feed, cloth and make life possible in most communities. NYC’s property tax system is unsustainable.