Overview
- Amendment 3 would raise the homestead exemption for non‑school property taxes to $150,000 in 2027 and $250,000 in 2028 and lower the annual assessment cap on non‑homestead property from 10% to 5%.
- State economists at the Revenue Estimating Conference project roughly $5 billion in lost local revenue in the first year and about $12 billion annually when the measure is fully phased in, figures that have prompted town halls and county briefings.
- A Realtor.com analysis cited by opponents finds large tax reductions can be capitalized into higher home prices, with an extreme model showing a 7%–9% immediate rise in values that could make buying harder for first‑time buyers.
- The Vote Yes campaign is heavily financed by Florida Realtors, which reported about $18 million in contributions, while organized opposition has far less funding and recent informed‑voter polling shows support around 53%, below the 60% needed to amend the constitution.
- Local officials from Hollywood to Bay County warn specific budget gaps—Hollywood estimates an initial $34 million shortfall—leaving cities to consider cuts, higher fees, or tax shifts as early voting runs Oct. 19–Nov. 1 and Election Day is Nov. 3.