Jim Walden, an independent candidate under the Integrity Party, aims to reform New York City's property tax system, shifting the burden from middle-income families to luxury properties. His plan involves using local market data to create a transparent and fair tax structure, where even not-for-profits contribute. Seniors are set to benefit from a tax freeze at retirement, with reduced rates over time. He criticizes the existing system as confusing and pledges to provide a more rational alternative, amidst a highly competitive Democratic primary for mayor.
Walden's proposal calls for a shift of the property-tax burden away from middle- and lower-income New Yorkers, focusing on luxury and high-value properties.
He emphasized a more transparent and simplified system, arguing that even some not-for-profits should contribute their fair share to the tax system.
Seniors will benefit from a tax freeze upon retirement, which will gradually decrease their tax burdens annually.
Walden criticized the current property tax system as unfair and opaque, promising rational and fair taxes based on local market data.
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