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Amendment Three's Property Tax Impact | Real Estate News
Florida voters face a pivotal decision this fall over Amendment Three, a sweeping property tax overhaul that could dramatically boost homestead exemptions—from $50K to $250K by 2028—and cap annual reassessments on non-homestead properties at just 5%. While designed to ease the burden of skyrocketing home values for homeowners, it risks slashing up to $11.86 billion annually from local budgets statewide—with Miami-Dade and Broward each losing hundreds of millions. The proposal has already weathered legal challenges over its wording, forcing a rewrite to ensure neutrality. At its core, it’s a…
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