Three Ballot Initiatives Face Voters On Tuesday
Virginia voters will face three ballot initiatives next Tuesday that would amend the state’s constitution and affect tax and budget policy. Charles Fishburne reports.
The first would give localities the power to craft their own policies to give tax relief to the elderly and disabled. Current state law gives local governments only those powers that are specifically designated to them by the General Assembly, and until now that relief has been granted one locality at a time.
The second would exempt military veterans with 100% service-related disabilities from paying property taxes on their residences. There are some 7400 veterans who would qualify, and there's no estimate what this might cost localities in lost revenue.
The third would raise the rainy day fund cap from ten to fifteen percent. The cap is there to prevent lawmakers from hoarding money, but the recent recession has prompted another look.
Constitutional changes must be approved twice by the General Assembly, with an election in between, then approved by voters in an initiative like the three that'll appear on your ballot on Tuesday.
Charles Fishburne, WCVE News