Realtors’ $10M Boost Propels Push for Florida’s Amendment 3

Overview

• The Florida Realtors gave $10 million to the Vote Yes on 3 committee, enabling a major increase in advertising and outreach in the two months before the November vote.
• Amendment 3 would raise the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, then index it to inflation, while narrowing how remaining ad valorem revenue can be spent.
• Legislative analysts estimate the measure could cut local government revenues by billions, with projections that losses could reach roughly $11–12 billion annually once the exemption is fully phased in.
• Sierra Club Florida announced Tuesday that it opposes the amendment, saying the revenue losses would undercut stormwater projects, flood mitigation and other local climate resilience work, and other groups such as sheriffs, police and firefighters have also protested the proposal.
• The ballot summary was rewritten by the attorney general after a court order and a recent survey showed improved voter responses, but the amendment still must clear a 60% voter threshold and state officials have only limited options to backfill recurring shortfalls.