Florida Realtors put $18 million behind Amendment 3
The measure would expand homestead tax breaks while tightening assessment limits on rentals and commercial property.
Florida’s Realtors association supplied the entire $18 million collected by the campaign supporting Amendment 3 through Sept. 25. Groups fighting the proposal reported $537,357 together. OpenSecrets, a nonprofit that monitors political spending, compiled the figures. Voters will decide the measure in November, and passage requires 60% approval.
Amendment 3 would increase the homestead exemption for taxes unrelated to schools. The exemption would reach $150,000 in 2027, followed by $250,000 in 2028. For property without a homestead exemption, including rentals and business sites, yearly assessment increases would be limited to 5% instead of 10%. New Florida residents arriving after Dec. 31 would need 5 years of uninterrupted residency to receive the full expanded benefit.
The financial effects would extend beyond individual tax bills. State economists estimate local governments could collect up to $12 billion less each year by the fifth year. Polling offers sharply different pictures of voter sentiment. St. Pete Polls measured 45% support among 913 respondents, with a quarter undecided. A Pioneer Institute survey of 504 registered voters placed support at 74%.
- cltampa.com