Credit: ISTOCK

It's the time of year when Americans must decide: Take the standard deduction or itemize on our taxes?

Sen. Kirsten Gillibrand (D-N.Y.), is touting a law allowing some to do both, and that's not a good idea.

Gillibrand proposes that those who don't itemize be allowed a deduction for their property taxes in addition to the standard deduction. She wants an added line on tax forms, under the standard deduction, for property taxes paid. The two would be added together to create the total deduction.

It's a small group that pays high property taxes yet doesn't itemize: those where levies are very high, but who don't spend much money on mortgage interest or charity. Because it would mostly help such a limited number of people, located only in high property-tax locales like California and New York, at the cost of taxpayers elsewhere, it won't pass in Congress - which is the best thing about it.

Local property taxes are already deductible. Whether you take that tax break via the standard deduction or by itemizing, you still don't have to pay federal taxes on the income.

Gillibrand's proposal is wrongheaded because it would let some people take both, effectively deducting their property taxes twice, and that's neither fair nor smart.

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