State Elections Make History
Though Presidential and Congressional elections captured the attention of the nation, the states had some exciting activity on the election front as well.
Eleven states had gubernatorial elections; the Democrats had a net gain of one seat in Missouri and will control 29 Governors’ offices to the Republicans 21.
The state legislatures saw the most action as nearly 6,000 of the 7,382 legislative seats were being contested. Several notes of historical significance resulted from these races:
Republicans now have full control of the legislature and governors’ offices in eight states while the Democrats control 17.
Ballot Measure Activity High in States
There were 153 initiatives on the ballot in 36 states – six still undecided, 90 were approved and 57 rejected (61 percent) – which is just slightly below the 67 percent approval rate in 2004 and 2006.
Most notably for the apartment industry were those measures related to money. Massachusetts voters rejected Question 1, which would have repealed the state income tax, surely leading to increased fees and taxes on apartment firms in that state. This was the second time that this question had been placed on the ballot (2002) and voters said no with a margin of 70 percent to 30 percent.
Nationally, 14 of the 15 bond measures on state ballots were approved, authorizing just over $13 billion in borrowing. There were three states that had tax cut measures of some type on the ballot (including the aforementioned in Massachusetts) and all of those failed. The general thought surrounding that fact is that voters either recognized the value of the state services paid for with those dollars and/or realized there will be more significant increases in the future because of the current economic situation.
Two other notable ballot measures were defeated:
A notable passage occurred in Arkansas. The Arkansas Legislature currently meets every other year in odd-number years. Voters passed a constitutional amendment authorizing lawmakers to meet in even-number years to consider budget matters only in a 30-day session.
Norbert Huston @ www.SanJoaquinHomes.info is a proud member of the National Apartment Association, this article was published on 11-26-08.
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