While races for Congress and governorships have sucked up most of the attention leading up to the Nov. 3 midterm elections, voters across the country also face ballot questions that will play a major role in how their public schools, police departments and other vital services are financed. In Florida, for example, voters will consider a massive increase in the state’s homestead exemption. The Florida Policy Institute reports that it would create a tax shift from wealthy homeowners to renters and force cuts to libraries, hospitals, police and other services. Neva Butkus of the Institute on Taxation and Economic Policy:
Amendment 3 was put forth by the Florida legislature after initial calls to eliminate all property taxes across the state by Gov. Ron DeSantis. If passed, the measure would increase the state’s homestead exemption to $250,000 by 2028 and index it to inflation. The measure would also lower the cap on how much a property’s assessed value could increase annually, from 10 to 5 percent. This cap on assessments would lock in very low property tax bills for longtime homeowners, disincentivizing them from selling while driving up home values and putting homeownership further out of reach for younger families.
Over in North Carolina, voters will consider measures that cap personal income tax rates and direct the state Legislature to limit property taxes. These proposals wouldn’t directly cut taxes, but would make it harder for the state to raise the revenue it needs in future years. The Indy:
“A lot of the services that we rely on will decrease,” County Commissioner Michelle Burton told the INDY in regards to the property tax amendment. “There are going to be cuts, particularly in public education. We will not be able to fill in that gap anymore if this passes.”
Meanwhile, Colorado voters will consider whether to raise a budget cap to allow more spending on K-12 schools. The Fort Collins Coloradoan:
Proposition NN, Keep and Spend Money for Education and Other Purposes, asks voters to weigh in on requiring the state legislature to increase its allocation to local K-12 public school districts by 2% annually over the previous year’s allocation without decreasing spending on other critical state needs. The additional funding would be provided through a reduction or elimination of refunds Colorado taxpayers currently receive of excess revenue collected by the state through the Taxpayer’s Bill of Rights, or TABOR.
Louisiana voters will see 10 proposed constitutional amendments on their ballot – half of which seek to limit property taxes that already are among the lowest in the country. Invest in Louisiana will publish a guide to the amendments later this month.
Progress and peril on home insurance
Insurance premiums for Louisiana homeowners have fallen over the past couple of years thanks to lighter-than-normal hurricane activity and increased state investments in fortified roofs. Louisiana has lined up $140 million for roof fortification – enough to provide $10,000 grants to 14,000 homeowners that will lead to lower premiums. But The Times-Picayune | Baton Rouge Advocate’s Sam Karlin reports that the “fortified” designation only lasts for 15 years, after which premiums could rise again.
The move, which (the Insurance Institute for Business and Home Safety) notified regulators of last week, could have lasting ramifications for homeowners. Fortified roofs qualify for mandatory discounts on home insurance premiums, but only if the certification is active. Once the “fortified” designation is removed after 15 years, homeowners can expect to lose their discounts as well — unless they start the process over and buy another fortified roof.
Meta is gaming the tax code
As Meta makes massive investments in data centers across the country – including the $50 billion Hyperion project in Richland Parish – the company is using a novel interpretation of the tax code to skirt federal income taxes. The New York Times reports that the company is tapping a tax credit designed for research and experimentation to offset the cost of its data center spending.
Indeed, Meta’s own accountants recognize that the strategy is on shaky legal ground. In disclosures buried in securities filings, the tech giant warns that billions in tax savings are vulnerable to being overturned by the I.R.S., in large part because of “uncertainties with our research tax credits.”
Chronic absenteeism hurts students
An alarming number of Louisiana high school students are chronically absent from school. Students who miss class are less likely to graduate and go on to have productive careers. Charles Lussier of The Times-Picayune | Baton Rouge Advocate reports that nearly half the high school students in East Baton Rouge public schools (47.4%) miss school at least 18 days per year – or twice a month.
Absent children not only fall behind in school, but their health suffers because they lose daily access to healthy meals as well as school nurses, (Dr. Heidi Schumacher of the University of Vermont) said. Their absence also stresses teachers and classmates. “When a child is coming and going, the teacher is reteaching, relationships get disrupted,” she said. “The whole milieu of a school environment is altered.”
Number of the Day
54% – Percentage of Louisiana adults who held a “credential of value” in 2026 – up from 44.2% in 2019. (Source: Board of Regents via The Advocate)