US Voters Weigh Billionaire Tax and Property-Tax Cuts on November Ballots

California, Florida and Washington voters will decide contrasting tax proposals in November. California’s Proposition 40 proposes a one-time 5% wealth tax on billionaires, with 90% of proceeds for health care; legislative analysts project temporary revenue gains and possible ongoing income-tax losses. Florida’s Amendment 3 would raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028, followed by inflation adjustments, with the larger exemption delayed until the fifth exemption year for people becoming residents after 2026. Washington’s Initiative 26-645 would repeal a 9.9% tax on annual individual income above $1 million scheduled to begin in 2028.