Decision Day is Coming: Voters to Decide Important State and Local Tax Changes on Election Day

While much attention is focused on the presidential election and tight senate races, on Election Day 2020 voters will also be asked to approve or reject key state and local tax changes that would affect individuals and business taxpayers. In addition to ballot measures implementing income tax rate changes, California voters will decide whether to repeal a decades-old property tax measure assessing commercial and industrial properties on purchase price rather than fair market value. Simply put, the outcome of Election Day 2020 will affect not only federal tax policy in the future, but may also significantly revise long-standing policies in certain states and localities.

Please join professionals from the KPMG State and Local Tax Practice as they discuss pending ballot measures and provide an overview of the fiscal state of the states and local governments.