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At least 4 states have rollbacks or limits on November’s ballot
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Homeowners in a handful of states will have an opportunity in November to take a bite out of soaring property taxes.
Initiatives related to property taxes are on the ballot in at least four states: Florida, Oklahoma, North Carolina and Wyoming, the Wall Street Journal reported. Since the beginning of last year, more than 10 states have passed bills to stem property taxes and more states are discussing the issue.
In Florida, Gov. Ron DeSantis proposed a constitutional amendment that would raise Florida’s homestead exemption from $50,000 to $150,000 in 2027 and $250,000 in 2028, though the higher exemption would not apply to school taxes. It also would reduce the annual assessment cap on non-homesteaded properties from 10 percent to 5 percent.
A judge recently ordered a rewrite of the ballot language, citing non-neutral phrasing.
In Wyoming, a ballot measure would allow voters to exempt 50 percent of home values from property taxes. Last year, the state government implemented a 25 percent property tax exemption for the first $1 million of a primary home’s fair-market value.
In the Sooner State, a measure is on the ballot for a 1.75 percent limit on how much annual property assessments can rise. And in North Carolina, the ballot asks about a similar limit to property tax growth.
The effort to combat rising property taxes appears to be led by Republican-led states, though soaring levies are an issue nationwide. Between 2016 and 2025, average annual property taxes on single-family homes jumped by about 34 percent, according to Attom, coming in at more than $4,400.
Paying fewer property taxes likely sounds nice to many homeowners, but it comes at a cost, officials warn. Property taxes are the largest source of state and local tax revenue, according to the Tax Foundation, and revenue often goes toward municipal services like firefighters and local schools. Officials would need to find other sources of revenue to prevent a lapse in funding.
— Holden Walter-Warner
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Property Taxes in Crosshairs of States Across Country – The Real Deal
