Florida Realtors' Board of Directors has formally endorsed Amendment 3, a November ballot measure that would expand homestead exemptions and lower assessment caps on non-homestead properties.
Source: Original report
Board Votes to Support November Ballot Measure
Florida Realtors' Board of Directors voted to officially endorse Amendment 3 following the conclusion of the association's 2026 Convention & Trade Expo governance meetings. The measure will appear on the November ballot and requires approval from at least 60% of Florida voters to take effect.
What Amendment 3 Would Change
If passed, Amendment 3 would make several significant adjustments to Florida's property tax framework:
- Increase the homestead property tax exemption for owner-occupied primary residences
- Reduce the annual assessment cap applied to non-homestead properties, such as investment homes and rentals
- Implement additional structural changes to the state's existing property tax system
Why Florida Realtors Is Backing the Measure
The association framed its support around housing affordability, stating that the amendment gives voters a path toward meaningful property tax relief while reinforcing the state's commitment to attainable homeownership. Florida Realtors is encouraging residents to research the measure and vote yes this November.
Context: Florida's Property Tax Pressure
Florida homeowners have faced mounting property tax bills in recent years, driven largely by rapid appreciation in assessed property values across much of the state. Non-homestead property owners — including landlords and second-home buyers — have historically faced fewer protections against rising assessments compared to primary residents, making the proposed cap reduction particularly significant for the investment and rental segments of the market.
Amendment 3 represents one of the more consequential property tax proposals to reach Florida voters in recent memory, and the Realtors association's endorsement adds notable institutional weight to the yes campaign heading into the fall election cycle.
