Election Day Approaches
Tomorrow is election day; here in Iowa, that means municipal elections for things like city council and mayor, school board elections, and the occasional bond issue. But in other spots across the country, there are a lot of important issues.
Three that we’ve heard a lot about have to do with a mayoral election in New York City, and governor’s races in both Virginia and New Jersey.
But our friends at the National Taxpayers Union point out that voters tomorrow will decide on more than $3.1 billion in proposed tax increases or extensions.
Of that more than $3 billion, $1.7 billion comes from higher property tax rates, while another $1.3 billion comes from higher sales tax rates.
Obviously, if we in Iowa can figure out our property tax dilemma, given how we have already cut income taxes, we will be at a competitive advantage over those higher-tax states…but I hate to wish ill upon people stuck living in those places.
Then there are bond issues, with a whopping $37.3 billion up for voters to review.
Of particular interest are ballot initiatives in California, Colorado, Texas, and Michigan.
While there are no statewide issues with fiscal impact in California, 13 local measures will appear in 9 counties, which could result in nearly a half billion dollars of tax revenue from citizens.
Colorado has a statewide school meal program on the ballot, along with some cities looking to impose new excise taxes on ski lift tickets.
Texas is active, including car rental and hotel/motel tax increases to help fund facilities like for the San Antonio Stock Show and Rodeo…plus a measure to build a new arena for the NBA team in San Antonio.
Michigan voters are looking at property tax increases in various counties, as well.
While this may not be as active a year in Iowa as other years, it still requires citizens to be informed participants. Otherwise, you can’t complain when you get a higher tax bill.
