Marinm was kind enough to send me this notice from Senator Mark Obenshain (has to be from Staunton). We all need to give these items some thought. I never understand amendments when I go in to the polls and get blindsided by them:
From Senator Obenshain:
Many voters will be surprised to see three Virginia Constitutional Amendments on the ballot when they vote in three weeks (or earlier if voting by absentee ballot). I write this to provide a quick overview of the three constitutional ballot questions you will see when you vote.
All three amendments address taxation and revenue issues, and all three have passed the General Assembly two consecutive years (with nearly unanimous votes), as is required by the Constitution of Virginia, and they now go before the voters for final approval.
The first ballot question reads as follows: “Shall Section 6 of Article X of the Constitution of Virginia be amended to authorize legislation that will permit localities to establish their own income or financial worth limitations for purposes of granting property tax relief for homeowners not less than 65 years of age or permanently disabled?”
Currently, localities are only authorized to make exemptions for those who bear an “extraordinary tax burden,” or with the express approval of the General Assembly, which occasionally passes legislation authorizing specific localities to afford local property tax relief to senior citizens or the disabled. This amendment, if approved, would allow local governments to make the decision on their own, without going to the General Assembly for approval.
The second ballot question asks: “Shall the Constitution be amended to require the General Assembly to provide real property tax exemption for the principal residence of a veteran, or his or her surviving spouse, if the veteran has a 100 percent service-connected, permanent, and total disability?”
If approved, this amendment would require a statewide exemption from local property taxes for the primary residence of any 100% disabled veteran, provided that the veteran’s disability is service-related. A surviving spouse could continue to claim the exemption so long as the same home remains his or her primary residence, and s/he does not remarry.
Finally, the third ballot question says: “Shall Section 8 of Article X of the constitution of Virginia be amended to increase the permissible size of the Revenue Stabilization Fund (also known as the “rainy day fund” from 10 percent to 15 percent of the Commonwealth’s average tax revenues derived from income and retail sales taxes for the preceding three fiscal years?”
In other words, should we expand the allowable size of Virginia’s “rainy day fund,” to which state government contributes in good years to provide resources for lean years? Currently, the maximum size of the Fund – which is almost empty at present – is 10% of the Commonwealth’s average annual tax revenues from income and sales taxes for the preceding three fiscal years; this amendment would up the maximum allowable amount to 15%.
