Key housing and tax measures on November ballots could reshape affordability and mortgage dynamics
Brokers across the country were watching closely as voters in New York City and Texas prepared to decide on a suite of ballot proposals with direct implications for housing affordability and mortgage costs.
The November 4, 2025, ballots featured measures aimed at streamlining affordable housing development in New York City and expanding property tax exemptions in Texas—two issues that industry professionals said could have ripple effects beyond state lines.
In New York City, three charter revision proposals sought to accelerate the delivery of affordable housing and simplify the approval process for related infrastructure.
One measure would create two new fast-track processes for affordable housing projects, targeting both publicly financed developments and neighborhoods with historically low rates of affordable housing construction.
Another proposal aimed to speed up the review of modest housing and infrastructure projects, including those designed to bolster the city’s resilience against extreme weather.
A third measure would establish an Affordable Housing Appeals Board, composed of the borough president, city council speaker, and mayor, with the authority to reverse city council decisions on affordable housing projects by a two-to-one vote.
These proposals are about cutting red tape and getting affordable units built faster. If passed, they could make a real difference for families waiting for housing and for developers navigating the city’s complex approval system.
The “Mamdani Effect” is taking hold as affluent New Yorkers move fast to secure suburban homes before possible tax shifts. Brokers across Westchester and Connecticut report bidding wars and soaring prices driven by pre-election uncertainty.https://t.co/rAhHR1WsnH
— Mortgage Professional America Magazine (@MPAMagazineUS) November 3, 2025
Meanwhile, Texas voters faced a slate of constitutional amendments directly tied to property taxes and homestead exemptions. Among the most closely watched was Proposition 13, which would increase the property tax exemption from $100,000 to $140,000 of a homestead’s market value.
Proposition 11 would raise the exemption for elderly or disabled homeowners from $10,000 to $60,000, while Proposition 10 would provide a temporary exemption for homes destroyed by fire. Additional measures addressed exemptions for border infrastructure and surviving spouses of veterans.
These tax exemptions could provide meaningful relief for homeowners, especially as property values have surged in many Texas markets. But brokers will need to keep clients informed about the eligibility, timing, and how these changes interact with local tax rates.
These ballot issues are a reminder that housing policy isn’t just set in Washington, but also shaped by voters on the ground. Brokers who stay informed and engaged can help clients navigate the shifting landscape and advocate for solutions that work.
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