Florida, California voters back Realtor-supported measures

Housing ballot results gave Realtors wins in Florida and California, where voters approved a homestead property tax cut backed by $18 million from Florida Realtors, and a loan program for buyers of newly built homes.

Housing ballot results left two other measures backed by state Realtor associations unresolved Wednesday morning, according to results from The New York Times, which uses Associated Press data. Massachusetts Question 7, a zoning change for single-family homes, led by 195 votes out of about 2.1 million cast. California Prop. 45, which would shorten environmental review, trailed with 54.1 percent of voters opposed.

Voters approved housing bonds in California and Rhode Island, and Hawaii voters approved an amendment on infrastructure bonds. The six state housing measures on the ballot were the most in a single election year since at least 2006, according to Ballotpedia, a count that excludes property tax measures like Florida’s. 

Results at a glance

Results as of Wednesday morning. Counts may change.

Measure	What it does	Result	Yes vote
Florida Amendment 3	Raises homestead exemption on non-school property taxes	Passed	62 percent
California Prop. 1	$11.25 billion housing bond	Passed	59.4 percent
California Prop. 37	Up to $25 billion for second mortgages on new homes	Passed	61 percent
Rhode Island Question 2	$120 million housing bond	Passed	61.1 percent
Hawaii Question 2	Lets counties issue infrastructure bonds for housing	Passed	64.5 percent in first printout
Louisiana Amendment 6	Allows added local exemption for older homeowners	Passed	63.6 percent
Louisiana Amendment 9	Raises income limit for assessment freeze to $150,000	Passed	58.2 percent
North Carolina property tax amendment	Requires limit on local property tax increases	Passed	About 60 percent
Charlotte housing bond	$125 million housing bond	Passed	62 percent
Raleigh housing bond	$101.5 million housing bond	Passed	Nearly 65 percent
San Francisco Prop. J	Ends transfer tax exemption for large commercial foreclosures	Passed	79.1 percent
Massachusetts Question 7	Allows single-family homes on smaller lots	Too close to call	50 percent, leading by 195 votes
Oakland Measure FF	Changes transfer tax exemption for foreclosed properties	Leading, not called	More than 80 percent in early returns
California Prop. 45	Shortens environmental review for essential projects	Trailing, not called	45.9 percent
San Francisco Prop. I	Dedicates half of high-value transfer tax revenue to affordable housing	Trailing, not called	45 percent
California Prop. 40	One-time 5 percent tax on billionaires’ net worth	Trailing, not called	About 44 percent

Florida

Amendment 3, homestead property tax exemption: Passed

Amendment 3 received 62 percent of the vote, above the 60 percent it needed to pass.

The measure raises the homestead exemption on non-school property taxes from about $50,000 to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that. It lowers the cap on annual assessment increases for non-homestead properties from 10 percent to 5 percent.

Buyers moving from out of state face a waiting period. People who are not Florida residents on Dec. 31, 2026, will receive the existing exemption when they qualify and the higher exemption beginning in their fifth year, according to the amendment.

Florida Realtors funded the Vote Yes on 3 committee in full as of late September, WLRN reported. Gov. Ron DeSantis called the result a win for homeowners, and Bay News 9 reported that the change will reduce revenue for local governments.

Joel Berner, senior economist at Realtor.com, said in a statement that the measure could provide a boost to Florida’s housing market. He said the state’s median listing price fell 3.5 percent year over year in September, the number of homes for sale fell 9.6 percent and the median property tax bill is $3,839 a year, the 15th highest among the 50 states.

“Relief from property taxes, supporters hope, could be enough to nudge some reluctant buyers off the fence and into a new home,” Berner said.

He said the measure raises questions about how local governments will pay for public services.

“Roughly 30 percent of Florida’s local government revenues come from property taxes, so to maintain government services, Florida localities will likely have to raise sales taxes or other fees,” Berner said.

Miltiadis Kastanis, executive director of sales at Compass, said in a statement that he expects Texas to become a larger source of high-net-worth buyers for Florida. Democrat Gina Hinojosa defeated Gov. Greg Abbott in Texas’ governor race Tuesday, according to the AP.

“When other states introduce policies that could affect how wealth is taxed, Florida naturally enters the conversation,” Kastanis said. “We’ve traditionally seen strong demand from New York, California and Illinois, but given the recent political shifts in states like Texas, I expect we’ll see more buyers looking to Florida.”

California

Voters approved two of the state’s three housing measures, with about 58 percent of the expected vote counted.

Prop. 37, second mortgages for buyers of new homes: Passed

Prop. 37 passed with 61 percent support. It authorizes up to $25 billion in revenue bonds for second mortgages covering up to 17 percent of a new home’s price. The California Association of Realtors backed the measure.

Prop. 1, $11.25 billion housing bond: Passed

Prop. 1 passed with 59.4 percent support. The $11.25 billion bond includes $1.25 billion for veteran housing, with the remainder going to home and rental assistance programs.

Prop. 45, limits on environmental review: Trailing, not called

Prop. 45, also backed by the California Association of Realtors, had not been called. The measure would limit environmental reviews to 365 business days and require courts to resolve related lawsuits within 270 days for projects it defines as essential, including housing.

Prop. 40, one-time billionaire tax: Trailing, not called

Prop. 40, which would impose a one-time 5 percent tax on the net worth of the state’s roughly 200 billionaires, trailed with about 56 percent of voters opposed. If either Prop. 41 or Prop. 42 receives more votes than Prop. 40, the billionaire tax would be nullified, CalMatters reported.

Prop. 42, ban on new wealth taxes: Leading, not called

Prop. 42, a countermeasure to Prop. 40, led with about 54 percent support.

Prop. 41, limits on new special taxes: Trailing, not called

Prop. 41, the other countermeasure, trailed with about 52 percent of voters opposed.

Massachusetts

Question 7, single-family homes on smaller lots: Too close to call

The No side on Question 7 led by just about a percentage with about 90 percent of votes counted. The AP had not called the race as of Wednesday at 12 pm ET.

The measure would require cities and towns to allow a single-family home on residentially zoned lots of at least 5,000 square feet with 50 feet of street frontage and public water and sewer. It would apply to every municipality except Boston, which falls outside the state zoning law the measure amends.

Gov. Maura Healey and the Massachusetts Association of Realtors support the measure. The Massachusetts Municipal Association opposes it, citing local control of zoning.

Early returns showed support in Brookline and Somerville and opposition in Wellesley and Lexington, The Boston Globe reported. Tufts University’s Center for State Policy Analysis estimated the measure would generate 350 to 1,200 homes a year, while the campaign estimated 2,200 to 5,700.

Rhode Island

Question 2, $120 million housing bond: Passed

Voters approved Question 2, a $120 million housing bond, with 61.1 percent support, according to unofficial results from the state Board of Elections.

At least $25 million must go toward housing intended for homeownership, and up to $10 million can support public housing development. Projects are expected to begin by 2028.

Voters approved a bond of the same size in 2024. The Rhode Island Public Expenditure Council estimated this year that the bond would create 642 new units, an assessment state housing officials dispute.

Hawaii

Question 2, infrastructure bonds for housing: Passed

Voters approved Question 2, the Honolulu Star-Advertiser reported, citing the state’s second printout of results. 

The constitutional amendment would direct the Legislature to authorize counties to issue resilient infrastructure for shelter and equity bonds, known as RISE bonds. The bonds would fund public improvements in designated districts, would be repaid from growth in property tax revenue within those districts and would be excluded from county debt limits.

Yes votes must reach at least 50 percent of all ballots cast, including ballots that leave the question blank.

Louisiana

Amendment 6, added local exemption for older homeowners: Passed

Amendment 6 received 63.6 percent support, The Center Square reported. It lets parishes and municipalities offer qualifying homeowners an added exemption ranging from $6,000 of assessed value at ages 65 to 68 to $30,000 at 81 and older.

Amendment 9, higher income limit for assessment freeze: Passed

Amendment 9 received 58.2 percent support. It raises the income limit for the state’s assessment freeze from $100,000 to $150,000.

North Carolina

Limit on local property tax increases: Passed

The constitutional amendment requires the General Assembly to limit how much local governments can increase property tax levies. It received about 60 percent support. Lawmakers will set the limit, likely in 2027.

3.5 percent cap on state income tax: Passed

The amendment received about 62 percent support.

Local measures

Voters weighed more than 50 housing-related measures, according to a Shelterforce scan. Results in the markets Inman reporters were tracking include:

Charlotte, $125 million housing bond: Passed

The city’s largest housing bond received 62 percent support.

Raleigh, $101.5 million housing bond: Passed

The bond received nearly 65 percent support. The city says it can borrow the money without raising property taxes.

San Francisco Prop. J, transfer tax on large commercial foreclosures: Passed

The measure, which ends a transfer tax exemption for foreclosures of large commercial properties, received 79.1 percent support. Residential properties with five or fewer units remain exempt.

San Francisco Prop. I, transfer tax revenue for affordable housing: Trailing, not called

The measure, which would dedicate half of high-value transfer tax revenue to affordable housing, trailed with 45 percent support.

Oakland Measure FF, transfer tax on foreclosed properties: Leading, not called

The measure, which changes the transfer tax exemption for foreclosed properties, held more than 80 percent support in early returns. 

Congress

Democrats will control the Senate and House, the AP projected.

Jake Krimmel, senior economist at Realtor.com, said in a statement that many Democratic campaigns tapped into voter dissatisfaction with the economy.

“Democrats have a clear mandate to focus on pocketbook issues, but whether they can translate that into a legislative agenda that delivers on that mandate remains to be seen,” Krimmel said.

He said a Democratic House and Senate would need to work with the Republican White House or find enough Republican support to override a likely veto. Krimmel pointed to the 21st Century ROAD to Housing Act, which Congress passed in July, as an example of bipartisan housing policy.

“It may serve as a model for the types of cross-aisle policies that Democrats can get across the line,” he said.

What comes next

The Massachusetts secretary of state’s office expects to certify results on the first Wednesday in December. Florida’s first exemption increase takes effect in 2027, and Rhode Island’s approved bond projects are expected to begin by 2028.

Email Jessi Healey