Voters in 24 states to decide on tax, spending measures in November

FOX23 News at 9 p.m.

WASHINGTON (KBSI) — Voters in 24 states will consider ballot measures affecting taxes, government spending and public borrowing in the November general election, according to a nationwide ballot guide released Thursday by the National Taxpayers Union.

The guide identifies 59 statewide measures that could affect billions of dollars in tax revenue and government spending. The proposals address income, property, sales and wealth taxes, as well as government borrowing.

“Taxpayers deserve to have plain language that details the tax and spending measures that will be on their ballots for this year’s general election,” said Tommy Aiello, vice president of federal affairs for the National Taxpayers Union.

Several states will consider proposals with significant financial implications.

In California, voters could decide on a one-time 5% wealth tax on billionaires, an extension of the state’s highest income tax rates and proposals authorizing billions of dollars in bonds. The income tax extension could generate an estimated $5 billion to $15 billion annually.

Florida voters will consider Amendment 3, which would expand property tax exemptions and impose stricter limits on property assessments. According to the guide, the Florida House estimates the measure could reduce annual local property tax revenue, excluding school taxes, by nearly $12 billion once fully implemented.

In Colorado, Proposition NN would allow the state to retain revenue exceeding limits established under the Taxpayer Bill of Rights rather than issue refunds. The guide estimates the change could result in taxpayers forgoing approximately $4.6 billion in refunds over 10 years.

Washington voters will consider Initiative 645, which would repeal a 9.9% tax on annual wage income exceeding $1 million and prohibit future income taxes. The guide estimates the repeal would prevent a projected $3.1 billion annual tax increase.

In North Carolina, voters could approve a constitutional amendment limiting the state income tax rate to 3.5%. Another proposal would require lawmakers to establish limits on local property tax increases.

Iowa voters will consider an amendment requiring a two-thirds majority in both legislative chambers to increase individual or corporate income tax rates or establish a new state income tax.

Wyoming’s Initiative 1 would exempt 50% of the assessed value of qualifying primary residences from property taxes. The measure is projected to reduce state revenue by approximately $92.6 million in fiscal 2028 and $95.9 million in fiscal 2029.

Tennessee voters could approve a constitutional amendment permanently prohibiting a state property tax, which the state has not imposed in more than 75 years.

In Oklahoma, State Question 847 would lower the annual property valuation growth cap for homesteads and agricultural property from 3% to 1.75%.

Massachusetts voters will consider Question 5, which would establish a state revenue limit tied to wage and salary growth. Revenue exceeding the limit would be returned to taxpayers rather than used for government spending or reserves.

The National Taxpayers Union encourages voters to contact local election authorities for additional information about measures appearing on their ballots.

The organization advocates for limiting taxes, government spending and regulation at the local, state and federal levels.