California Voters to Decide on High Net Worth Tax Initiative
California voters will decide in November on a ballot initiative to temporarily impose a 5 percent tax on individuals with a high net worth.
Miami Fort Lauderdale, FL, June 26, 2026 —
California voters will be presented with a ballot initiative in November that proposes a temporary 5 percent tax on individuals with high net worth. The measure will appear before voters this fall, allowing them to decide whether to implement the tax.
The specifics of the initiative, including the exact definition of “high net worth” and the duration of the temporary tax, will be detailed on the ballot. The outcome of the vote will determine if this tax is enacted in the state.
Story summarized from the original created by Finya Swai on thehill.com, see more information here.
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