I am a new blogger and am hoping that this is the correct way to start a subject.
We are asked to vote on 3 amendment on the November 2010 ballot in Virginia. As a fairly new voter I am trying to get some opinions on these three questions i.e.
It would seem that all three questions pertain to tax issues.
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?”
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?”
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?”
I am of the opinion that i would vote yes on the first two questions but am very conflicted on the third question. Would this question open the door to taxes being raised to fill the rainy day fund? As the fund is depleted now what is the point of raising the 10% ceiling to 15%.
I would find it very useful to have some informed comments on this matter.