JACKSONVILLE, Fla. — Battle lines are being drawn in the fight over property taxes in Florida, with the Florida Realtors Association officially launching the first campaign in support of Amendment 3.
Amendment 3 raises the homestead exemption to $150,000 in 2027 and up to $250,000 in 2028 before gradually phasing out property taxes entirely.
Florida Realtors Association CEO Margy Grant said the decision to back Amendment 3 was driven by the experiences of realtors on the ground level, as they’ve seen firsthand how high property taxes make homeownership less attainable.
“But more importantly, with homeowners. Because it’s one thing to afford to buy a home. It’s a whole other to afford to stay in that home,” said Grant. ”And when you look at the increase in costs for everything right now, Florida homeowners are feeling that pinch and this is an opportunity to provide the right relief at the right time.”
At least four campaigns opposing Amendment 3 have been launched over the past several months, but already the Vote Yes On 3 campaign has a big cash advantage.
The Florida Realtors Association put $10 million behind its effort out the gate, while the four anti-Amendment 3 campaigns have raised just $225,000 combined to date.
“The full weight of Florida Realtors is behind this initiative,” said Grant.
But Jackson Peel with Save Our Services No On 3 argued the Florida Realtors’ decision to support Amendment 3 is shortsighted.
“It’s going to be really hard to sell homes in neighborhoods that don’t have enough ambulances, don’t have enough firetrucks, have no afterschool programs for kids, and the roads are full of potholes with bad sidewalks,” said Peel.
The Vote No On Amendment 3 campaign also weighed in on the Florida Realtors’ entry into the property tax debate, suggesting agents stand to gain if the amendment passes.
“Their commission-driven business model involves one thing and one thing only: having more real estate transactions at higher prices,” said Vote No On Amendment 3 spokesperson Edie Ousley. “Amendment 3 will force local governments to only approve the construction of apartment complexes and high-end homes that will continue to be on the tax rolls, while the supply of affordably priced homes is reduced, forcing prices upward.”
Peel said he’s still optimistic that, with major groups like the Florida Sheriffs, Firefighters and Police all opposing Amendment 3, voters will ultimately reject the proposal in November.
“Our tax dollars need to be spent well, but Amendment 3 is not the answer,” said Peel. “This is a scam and a tax shift that is going to raise costs and cut our services.”
Amendment 3 will need 60 percent support to pass in November.
Polling has generally shown just above 60 percent support, but polls have also found that the more people learn about Amendment 3’s impacts on local governments, the less likely they are to support it.
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