Most election coverage focuses on the 2026 midterm elections' impact on U.S. House and Senate majorities and governorships. But voters can change more than just their representatives when they vote in less than three weeks.
In 10 states, they'll also get to decide on real estate-related ballot measures that can affect property taxes, down payment assistance, zoning, starter homes, and more.
So, let's run through the ballot options in those 10 states:
California
California is home to arguably the most famous real estate-related proposition in history: In 1978, Proposition 13 put limits on property tax rates. This year, the state has three propositions on the upcoming ballot:
- Proposition 1 authorizes the issuance of $11.25 billion in state bonds that would expand down payment assistance programs, encourage multifamily rentals, and provide extra support for veterans, among other things. It has widespread support from consumer and community advocates, but The Wall Street Journal calls it "the triumph of false hope over experience."
- Proposition 37 would see the state issue $25 billion in bonds to help middle-income Californians buy qualifying new homes worth up to $1.5 million, depending on the county, with a minimum 3% down payment. The industry loves the idea, but critics claim it will only push up home prices.
- Proposition 45 would limit the time environmental reviews can take. That could cut the cost and time taken to build a home. But critics say the environment is too important for corner-cutting.
Florida
Florida's proposition ("Amendment 3") would increase the homestead property tax exemption to $250,000 by 2028 from its current $50,000. That would drastically reduce the property tax bill for many Floridians.
However, critics say the resulting lost revenue would leave some counties and cities severely underfunded and struggling to provide basic services.
Hawaii
Ballotpedia says Hawaii's Question 2 asks voters to permit, "amending the Hawaii Constitution to authorize the state legislature to empower the counties and municipalities of the state to issue housing infrastructure growth bonds for specified public works, public improvements, and community development."
This would allow counties to finance eligible infrastructure improvements through bonds repaid using future growth in property tax revenue from designated districts, without increasing property tax rates specifically to repay those bonds.
Louisiana
Louisianians have four real estate-related amendments on their ballot papers on Nov. 3:
- Amendment 1 would allow the surviving spouse of a deceased disabled veteran to transfer their homestead property tax exemption to a different home.
- Amendment 6 would provide a property tax exemption on up to $30,000 of assessed property value for homeowners aged 65 or older who already qualify for an income-based property tax assessment freeze.
- Amendment 9 would extend the current property tax freeze for those with incomes below $100,000 to those whose incomes are under $150,000.
- Amendment 10 would introduce a property tax exemption for blighted or derelict properties once those properties have been rehabilitated.
Massachusetts
Massachusetts' Question 7 asks voters to approve new-home developments on radically smaller plots than are currently required.
"Massachusetts is one of the most expensive housing markets in the nation, and a 29-year-old economist says he knows how to make it more affordable," reports MarketWatch. He wants to reduce the amount of land required to build a single-family home in the state to as little as 5,000 square feet.
"Andrew Mikula, a self-declared policy wonk, didn’t come up with the idea himself," continued MarketWatch. "He noticed it worked in other parts of the U.S., in places like Houston, where similar legislation resulted in more home-building. Minimum lot sizes for new homes in an expensive Boston suburb like Bedford, Mass., range from 25,000 to 60,000 square feet."
North Carolina
On their midterm ballots, North Carolinians can require their state legislature to pass laws capping property tax levies. However, no specific cap is proposed, and it will be up to legislators to impose one.
Again, critics believe this will likely leave some local governments underfunded.
Oklahoma
State Question 847 would further cap increases in annual property tax assessments.
The assessed value of agricultural properties and homesteads would be able to rise by only 1.75% annually compared with the current 3% limit. And other properties would have a 4% cap as opposed to the current 5% cap.
Given that the current inflation rate is considerably higher than 1.75%, this could actively reduce real funding for local governments, potentially leading to cuts in services or increases in other tax revenues.
Rhode Island
Question 2 asks Rhode Islanders to approve the issuance of bonds worth $120 million. The money would be used to make homes more affordable by investing in the development of both private and public housing.
Tennessee
Tennessee's Amendment 2 seeks to make permanent the state's current ban on state-level property taxes.
Wyoming
Wyoming's Initiative 1 would boost the state's current property tax exemptions. Currently, primary residences get a 25% exemption on the first $1 million of the property's value.
If Initiative 1 passes, the exemption will rise to 50%, regardless of the home's value.
The resulting loss of revenue might force a hike in sales taxes, warn critics.
Of course, it remains to be seen which of these measures voters will approve. But the results could have a significant impact on property taxes, housing affordability, and homeownership opportunities in several states.
