The Real Amendment 3 Before Florida Voters: 5 Things Floridians Should Know About Property Tax Relief

OPINION: A recent Realtor.com® article about Florida’s Amendment 3 referenced an earlier, independent study that looked at what could happen if Florida eliminated property taxes altogether.

That is not Amendment 3, and it is not what Floridians will be voting for on Nov. 3.

Amendment 3 takes a more targeted approach, providing meaningful relief by expanding the homestead exemption for nonschool property taxes.

For voters, getting that distinction right matters.

Florida families are facing rising costs from nearly every direction, including housing, insurance, groceries, and other everyday necessities. Most of those costs are beyond their direct control. Property taxes are one cost Floridians have an opportunity to do something about.

That is the affordability case for Amendment 3.

At Florida Realtors®, our mission has always included helping Floridians buy, own, and keep their property. Today, affordability does not end at the closing table. Families must also be able to afford the ongoing costs of staying in those homes.

Amendment 3 would put money back into the pockets of eligible homeowners by lowering their nonschool property tax bills.

As Floridians prepare to vote, they deserve to understand the measure that is actually before them and what its passage could mean for their household budgets.

Here are five important questions and answers about Amendment 3.

What exactly would Amendment 3 do?

Amendment 3 would provide property tax relief by increasing the homestead exemption for nonschool property taxes from $51,411 today to $150,000 in 2027, and $250,000 in 2028, with annual inflation adjustments beginning in 2029.

That means more of an eligible home's value would be shielded from nonschool property taxes, lowering the homeowner's tax bill.

Just as important is what Amendment 3 does not do: It does not eliminate Florida property taxes, and the additional homestead exemption does not apply to school district property taxes.

How would Amendment 3 help with Florida's affordability problem?

The benefit is straightforward: Lower property tax bills mean more of Floridians' hard-earned money stays in their household budgets.

The exact savings will vary because local property tax rates differ across Florida. Eligible homeowners could keep hundreds or thousands of dollars more each year depending on where they live.

For a family trying to keep up with the cost of living, that is meaningful relief. And this matters because affordability does not end when someone buys a home—that's only part of the challenge. Families also need to be able to afford to keep it.

Property taxes are part of that ongoing cost, and Amendment 3 offers voters a direct opportunity to lessen that recurring burden.

What about renters, employers, and Florida businesses?

Amendment 3 extends beyond the homestead examption. It would also lower the annual assessment growth cap on homestead properties, including rental and commercial properties, from 10% to 5%. That means the taxable assessed value of those properties would be able to grow more slowly from year to year, providing predictability for property owners and the businesses and tenants that depend on them.

While Amendment 3 does not guarantee lower rents, rising and unexpected costs often get passed on to tenants. Greater predictability helps rental property owners and businesses plan, invest, and grow, and it eases some of the pressure on a real estate market already facing significant challenges.

Can Florida provide homeowners relief while continuing to support essential services?

Yes. You also have to consider how we got here. As property values have climbed, property tax collections by local governments across Florida have nearly doubled, from $32 billion to $60 billion over the past seven years. They're anticipated to grow to $83 billion by 2032. Homeowners have paid for that growth, and they deserve a share in some relief.

While some opponents would have you believe that Amendment 3 forces a choice between helping homeowners and paying for essential local services, that's a false ultimatum, and it does voters a disservice.

Florida can provide meaningful relief to homeowners now while continuing to fund the priorities that keep our communities safe and strong. That balance is even built into the amendment. The additional homestead exemption would not apply to school district property taxes, and Amendment 3 prioritizes remaining property tax revenue for core services, including public safety, education, and infrastructure.

Voting yes on Amendment 3 is Step 1, where Floridians decide that homeowners deserve this relief. But we can't forget about Step 2: implementation, where communities will work through how to deliver that relief while keeping public safety and core services first.

Florida Realtors® is confident our local leaders can implement Amendment 3 effectively, prioritize the services their communities depend on, and continue protecting the qualify of life Floridians value.

Florida has done this before. In 2008, voters approved an additional homestead exemption that doubled protections for many homeowners, from $25,000 to $50,000. Floridians got the relief they needed, communities adapted, and Florida moved forward.

The questions should not be whether communities deserve strong services or homeowners deserve relief. Florida can continue prioritizing essential services while giving homeowners some much needed breathing room.

Why does Florida Realtors® believe Amendment 3 is the right step now?

Because Floridians need relief now.

Florida Realtors® is the voice of homeownership. It's why we have worked to improve the insurance market, increase down payment assistance, and help families build generational wealth. But the need for additional solutions should not prevent us from acting on one meaningful opportunity voters have today.

If passed, Amendment 3 would lower property tax bills for eligible homeowners, give rental and commercial property owners greater predictability, and keep school district property taxes separate from the additional homestead exemption.

That is the Amendment 3 Floridians will actually vote on.

For Florida Realtors®, the reason for supporting Amendment 3 comes back to something much simpler: We love this state, and we believe in what homeownership makes possible here. A home is where Florida families put down roots, build stability, and become part of a community. But helping people purchase homes is not enough if the ongoing costs make it increasingly difficult for them to remain here.

Florida families cannot control every cost that is putting pressure on their budgets, but this Election Day, they can address one of them.

This is why Amendment 3 matters. Voters deserve the facts, and Florida homeowners deserve the opportunity to say yes to meaningful property tax relief when they need it most.

Chuck Bonfiglio Jr. is the 2026 president of Florida Realtors®.

The views expressed in this op-ed are those of the author alone and do not necessarily reflect the views or editorial position of Realtor.com News & Insights.

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