Voters sent a mixed message on money on November 3. Tax policy appeared on ballots in 16 states, with around 30 tax-related proposals, and the results did not follow a single party line. Homeowners in Florida, Tennessee, North Carolina, Louisiana and Georgia backed property tax relief or limits. Washington voters kept a new 9.9% levy on income above $1 million. California’s one-time billionaire tax, Proposition 40, was trailing as counting continued. Those are the headline 2026 midterm election results on taxes, and they point in different directions at once.
The bigger political story sits above the state ballots. Democrats took control of both the House and the Senate on a campaign built around affordability, which changes what is possible on federal taxes, tariffs, health care credits and Medicaid when the new Congress arrives in January. President Trump has promised vetoes, so gridlock is the most likely outcome. This report sorts verified results from what is still being counted and explains what taxpayers should do next.
Key Highlights: 2026 Midterm Election Results On Taxes
| Item | Where | Result as of November 5, 2026 |
|---|---|---|
| Election date | United States | November 3, 2026 |
| Amendment 3, homestead exemption | Florida | Passed with 62%, above the 60% needed |
| Amendment 2, ban on state property tax | Tennessee | Passed |
| Local property tax growth limit | North Carolina | Passed |
| Initiative 645, repeal of millionaires tax | Washington | Failed, about 58% No in early returns |
| Proposition 40, one-time billionaire tax | California | Trailing, count continuing |
| Initiative 1, 50% homestead exemption | Wyoming | Rejected |
| State Question 847, assessment cap | Oklahoma | Rejected |
| Proposition A, county tax rate increase | Dallas County, Texas | Rejected |
| Control of Congress | Washington, D.C. | Democrats projected to win House and Senate |
What The Split Verdict On Taxes Actually Means
The pattern is easier to read than the headlines suggest. Voters were generous when a measure promised relief to people who own homes, and cautious when a measure raised the bill for local government without a clear return. The same electorate that cut property taxes in several states also protected a tax that falls only on very high earners in Washington.
Kiplinger’s post-election summary notes that property taxes were the most common subject, with 15 measures in more than seven states. Reason Foundation’s tally says voters in seven states were asked about property tax cuts, and five said yes while two said no. That is a majority, but not a sweep.
For taxpayers the practical point is this. The relief is real but uneven, and most of it takes effect in 2027 or 2028, not on your next bill. Meanwhile the two high-profile measures aimed at the wealthy produced opposite answers, which shows that voters judge a wealth tax by how it is designed, who sponsors it and what it pays for, not by a simple left or right label.
Property Tax Relief Wins In Five States
Reason’s review of the results says voters in Florida, North Carolina, Louisiana, Tennessee and Georgia approved property tax measures, while Wyoming and Oklahoma voters said no. Here is what each state decided.
Tennessee passed Amendment 2, which writes a ban on a statewide property tax into the constitution. The state has not collected one since 1949, so the change is mostly symbolic, and local governments can still levy their own property taxes.
North Carolina approved a constitutional amendment that requires the legislature to limit how fast local governments can grow their total property tax collections. WUNC’s roundup adds that the same ballot cut the maximum state income tax rate, so revenue is constrained at both levels.
Louisiana voters approved four narrow reforms that expand exemptions for seniors and for surviving spouses of disabled veterans, and widen eligibility for assessment freezes. They rejected two others, including one that would have given local governments more flexibility to raise rates without a vote.
Georgia approved Amendment 1, which expands preferential treatment for agricultural and timberland property.
Florida Amendment 3: The Biggest Homeowner Tax Cut On The Ballot
Florida’s Amendment 3 passed with 62% of the vote, clearing the 60% threshold that constitutional amendments need in that state. According to Reason’s reading of the measure, it exempts the first $250,000 of a primary home’s value from non-school property taxes by 2028, adjusted for inflation afterward, and lowers the yearly cap on assessment growth for non-homestead property from 10% to 5%.
A caution on the numbers. A WUNC roundup describes the exempt amount rising from $50,000 to $150,000 in 2027, which differs from Reason’s $250,000 by 2028 figure. The two may reflect different phases or different descriptions of the same plan. Until your county property appraiser publishes its own guidance, treat any single number as provisional. The calculator below lets you change the exemption amount so you can test both.
The cost is large. Florida’s nonpartisan Revenue Estimating Conference projects that by 2028, the exemption will reduce property tax revenue by about $12 billion a year, roughly 10% of what counties collected in 2024 and 6% of what cities collected. Local governments will have to cut spending, raise other taxes or lean on state help.
Where Property Tax Relief Failed
Wyoming’s Initiative 1 would have exempted half of a primary residence’s value from property tax. The state already exempts 25% of a primary home’s value up to $1 million, and voters chose not to go further. Oklahoma’s State Question 847, which would have lowered the yearly limit on assessment increases, also failed.
Local measures tell a similar story. In Texas, Dallas County voters rejected Proposition A, a 2.4 cent increase per $100 of taxable value meant to raise about $102.9 million for homelessness, mental health and housing programs. Plano voters also turned down a package of venue related taxes linked to a proposed Dallas Stars arena district.
The lesson is consistent. Voters will cap or cut taxes they already pay, but they are wary of new local taxes unless the spending is specific and trusted.
Washington keeps its millionaires tax
Washington’s Initiative 645 asked voters to repeal a 9.9% tax on household income above $1 million and to bar future state and local personal income taxes. Early returns showed 58.1% voting no and 41.9% voting yes, so the tax stays. Governor Bob Ferguson signed it in March, and it is set to take effect in 2028.
Supporters of repeal, led by Let’s Go Washington and hedge fund manager Brian Heywood, argued the threshold would eventually fall to reach middle income families. Opponents said repeal would open a budget hole. The revenue helps fund an expansion of the Working Families Tax Credit, which The New Republic reports would reach 460,000 more households with rebates up to $1,330.
This is not the end of the fight. A constitutional challenge, Petter v. Washington, argues the tax conflicts with the state’s rules on property taxation, and Heywood told supporters on election night he is not going anywhere. Washington voters have rejected income taxes ten times since 1934, so this result is historically unusual.
California’s Billionaire Tax Falls Behind
Proposition 40 would impose a one-time 5% tax on the net worth of California residents with more than $1 billion in assets, with revenue directed mainly to health care. In NBC’s results table, it had about 44.7% yes with roughly 61% of expected votes counted, and Kiplinger describes it as falling short. California counts slowly, so check the Secretary of State before treating any result as final.
Two other measures complicate things. Newsweek notes that if Proposition 41 or 42 gets more yes votes than Proposition 40, the billionaire tax could be blocked even if it wins a majority. Proposition 42, which would bar certain new state taxes on personal and financial assets, was leading with about 54% yes in the same NBC table. A PPIC poll in October had already shown support for Proposition 40 slipping below a majority.
Democrats Take Congress: What Changes For Federal Taxes
NBC News, The Washington Post and NPR all report that Democrats won both chambers, flipping seven Senate seats including Texas, Iowa, Ohio, North Carolina and Kansas. The AP’s House table was still updating when I checked, so I am not quoting exact seat totals here.
The practical effect on taxes is mostly defensive. A Democratic House and Senate make a new round of Republican tax cuts very unlikely. House Democrats have said their first 100 days would focus on restoring the expired enhanced Affordable Care Act tax credits, reversing Medicaid cuts and undoing the tariff regime. Speaker Mike Johnson has said Republicans will keep pressing for tax and spending cuts, and Trump has promised to use his veto.
That leaves three things to watch: a fight over health care premium credits, a tariff showdown that effectively acts as a tax on imports, and negotiation over government funding. None of this changes your 2026 federal return. Rules already in law stay in place unless both chambers and the president agree to change them, so for now nothing in your filing changes.
How To Apply For The Florida Homestead Exemption
If you own and live in a Florida home, you generally apply through your county property appraiser, not the state. Steps:
- Confirm you owned the home and made it your permanent residence by January 1 of the tax year.
- Gather proof of residency, such as a Florida driver license, vehicle registration and voter registration at the address.
- File the application with your county property appraiser, online or in person. The usual deadline is March 1.
- If you already receive the homestead exemption, check whether the appraiser says anything further is needed for the new, larger exemption. Many counties apply changes automatically, but confirm.
Processing Time
Appraisers review applications over the spring and send an assessment notice in August. Timing varies by county, and the new exemption schedule is still being set, so expect guidance in the months ahead. If you are denied, you can petition the value adjustment board.
Payment Schedule For Property Taxes
Florida property tax bills typically go out around November 1 and carry an early payment discount: 4% if paid in November, 3% in December, 2% in January and 1% in February, with full payment due by March 31 before delinquency. The new exemption does not change your 2026 bill, because it phases in later. In Washington, nothing is owed under the millionaires tax until 2028, and the tax credit expansion will be claimed through the Department of Revenue when it launches. Confirm all dates with your county tax collector.
Official Resources
| Resource | Link |
|---|---|
| IRS (federal taxes, forms, refund status) | https://www.irs.gov |
| Congress.gov (federal bills and tax legislation) | https://www.congress.gov |
| Florida Division of Elections | https://dos.fl.gov/elections |
| Florida Department of Revenue (property tax) | https://floridarevenue.com/property |
| Washington Secretary of State, election results | https://results.vote.wa.gov |
| Washington Department of Revenue | https://dor.wa.gov |
| California Secretary of State, election results | https://electionresults.sos.ca.gov |
| Tennessee Secretary of State, elections | https://sos.tn.gov/elections |
| Ballotpedia, 2026 ballot measures | https://ballotpedia.org/2026_ballot_measures |
| Tax Foundation, state tax ballot measures | https://taxfoundation.org/research/state-tax/2026-state-tax-ballot-measures/ |
Homestead Property Tax Savings Calculator
Use the calculator at the end of this article to estimate yearly savings. Enter your home’s assessed value, your local non-school millage rate and the exemption amount you want to test, then compare the figures reported above.
What to watch next
Four things will shape the next few months. First, the final California count and whether Proposition 41 or 42 override Proposition 40. Second, county guidance in Florida on how and when the new exemption applies. Third, the legal challenge to Washington’s tax. Fourth, the first Democratic moves on health care credits and tariffs when Congress returns.
Local governments are the group to watch. Reason notes that property taxes make up about 44% of locally raised revenue for American local governments, compared with about 9% from sales taxes, so deep cuts tend to be offset elsewhere through higher sales taxes, state transfers, delayed spending or borrowing.
FAQs
What were the 2026 midterm election results on taxes?
Voters approved property tax relief or limits in Florida, Tennessee, North Carolina, Louisiana and Georgia, kept Washington’s millionaires tax, and rejected several tax increases and expansions in Wyoming, Oklahoma and Dallas County. California’s billionaire tax was trailing.
Did Florida Amendment 3 pass?
Yes. It passed with 62%, above the 60% needed.
How much will Florida homeowners save?
It depends on your assessed value and local millage rate. Reports differ on the exemption size, so use the calculator and check your county property appraiser.
Is Washington’s millionaires tax still in effect?
Yes. Voters rejected the repeal, and the tax is scheduled to take effect in 2028, though a court challenge remains.
Did California pass the billionaire tax?
Not as of the latest reports I found. It was trailing, counting was continuing, and competing measures could block it.
Who won the 2026 midterm elections?
Democrats are projected to control both the House and the Senate beginning in January, according to NBC News, The Washington Post and NPR.
Will taxes go up after the 2026 midterms?
There is no federal tax increase scheduled by the election itself. Changes would need to pass both chambers and survive a possible veto.
Will property taxes go down in 2027?
In Florida, parts of Amendment 3 phase in over 2027 and 2028, and your county will confirm timing. Elsewhere it depends on state and local rules.
Why did voters reject the Dallas County tax increase?
The measure would have raised the rate by 2.4 cents per $100 of value for social programs, and voters turned it down. Polling on motives was not available in the reports I reviewed.
What is the billionaire tax in California?
Proposition 40 would levy a one-time 5% tax on net worth above $1 billion, mainly for health care.
Conclusion
The 2026 midterm election results on taxes show a country that likes relief for homeowners, resists new local taxes without clear benefits, and is split on taxing the very wealthy. Florida, Tennessee, North Carolina, Louisiana and Georgia moved toward lower or capped property taxes. Washington held its millionaires tax. California’s billionaire tax was behind. In Washington, D.C., a Democratic Congress makes new tax cuts unlikely and puts health care credits and tariffs on the agenda. Check your county and state sites for dates that apply to you, and come back for updates.
