Property tax relief on the ballot in seven states

Audio By Carbonatix

(The Center Square) – Propositions to amend state constitutions to reduce property taxes are on the Nov. 3 ballot in seven states.

With exception of one, legislative bodies for each are majority Republicans. They were added to the ballot after each respective state legislature passed a bill proposing the constitutional amendment. 

Florida

In Florida, Amendment 3 would expand the homestead exemption to up to $150,000 of the assessed valuation of a primary residence in 2027 and up to $250,000 in 2028. The amount would also increase based on inflation after 2029. It applies to residents who who have lived in Florida for more than five years.

It also reduces the cap from 10% to 5% on annual property tax increases on nonhomestead properties, including rental and commercial properties. It doesn’t apply to school property taxes.

The state constitution requires 60% voter approval for it to pass.  

Georgia

In Georgia, Amendment 1 would reduce the tax burden for farmers and ranchers and conserve agricultural land and timber. It would increase “the maximum acreage to qualify for assessment and taxation as a bona fide conservation use property” by increasing the partial property tax exemption from 2,000 to 4,000 acres.

The state constitution requires a simple majority by voters to pass.

One property tax measure that isn’t on the ballot would have provided a homestead property tax exemption for the families of disabled veterans because an amended version of a bill proposing the exemption never made it out of the Legislature. 

Louisiana

In Louisiana, four propositions related to property taxes are on the ballot to help seniors, spouses of disabled veterans and low-to middle-income residents. 

Amendment 1 would allow the surviving spouse of a deceased veteran with a service-connected disability to receive a property tax exemption. 

Amendment 6 would authorize parishes and municipalities to extend an additional property tax homestead exemption for seniors age 65 and older.

Amendment 9 would increase the maximum amount of income a person may receive and still qualify for the special assessment level for the residential homestead exemption. 

Amendment 10 would allow property tax exemptions for blighted or derelict properties that have been rehabilitated. It also requires the legislature to enact laws to oversee and administrate these exemptions.

In May, voters defeated a proposition that would have authorized parishes to reduce or eliminate property taxes businesses pay on inventory and production equipment. 

Oklahoma

In Oklahoma, State Question 847 would reduce the annual limits on how quickly taxable property values can increase. If passed, it would cap increased taxable assessments on primary residences and farms at 1.75% annually, and 4% for other properties.

It is one of three recent measures addressing property taxes. One that was viewed as a way to reduce school property taxes was defeated in August. Another that would gradually eliminate property taxes altogether is before the Oklahoma Supreme Court. 

North Carolina

In North Carolina, two of three constitutional amendments relate to taxes.

The state’s individual income tax is a flat rate of 3.99% and scheduled to continue dropping to 3.49% in 2027 and 2.99% in 2028. The amendment puts a cap of 3.5% starting in 2027. Today the cap is 7%.

The ballot asks voters to vote for or against, “Constitutional amendment to keep the state income tax rate from being raised higher than three and one-half percent (3.5%).”

The property tax amendment does not set a floor or cap; rather, it says lawmakers are to pass laws limiting how much local governments can increase total property tax revenue from year to year. It does set a “levy limit” capping growth in total dollars. Exceptions could be granted by the lawmakers.

The ballot asks voters to vote for or against, “Constitutional amendment requiring limits on property tax increases by local governments.”

Tennessee 

In Tennessee, one of three constitutional amendments relates to property taxes, Amendment 2. It would prohibit the Legislature from imposing a state property tax on real, personal or mixed property.

It doesn’t impose limits on existing local property taxes.

Wyoming

In Wyoming, Proposition Number One would cut property taxes on primary residences by half. It applies to homeowners who have lived in their residence for at least six months and in the state for at least one year.