Florida Realtors® claim Amendment 3 is about “attainable homeownership.” Analysis on Realtor.com says that the deep property tax cuts, as proposed in Amendment 3, would make Florida homes less affordable for first-time buyers.
TALLAHASSEE, Fla. (October 14, 2026) In case you missed it, Realtor.com, the national home-listing site, has estimated that slashing property taxes in Florida, as proposed in Amendment 3, would immediately raise home values in the state by 7% to 9%.
That would add $200 billion to $250 billion to the value of Florida’s housing stock. Realtor.com senior economist Joel Berner warns that this would make homes less affordable for first-time buyers.
That analysis cuts directly against the sales pitch Florida Realtors® is making to voters. The trade association has put $20 million behind Amendment 3 and launched a “Vote Yes on 3” campaign. It argues the measure strengthens Florida’s commitment to attainable homeownership and calls affordability its top concern.
“Florida Realtors® are telling voters that Amendment 3 is about affordability, but the real estate industry’s own economists are saying the opposite,” said Edie Ousley, of the No on Amendment 3 campaign. “When home prices jump, who wins? Not the young family trying to buy its first home, and not the renter saving for a down payment. The people who win are the ones collecting commissions on bigger sale prices. That is why they’re spending $20 million on this.”
“Florida Realtors® can’t have it both ways,” Ousley continued. “You can’t claim to champion first-time buyers while bankrolling a measure that pushes homeownership further out of reach and also blows a hole in the budgets that pay for local firefighters, deputies, parks and roads. Floridians should see this for what it is and vote No on 3.”
Amendment 3 would raise the homestead exemption for non-school property taxes from $50,000 to $150,000 in 2027 and to $250,000 in 2028. Local officials across the state, especially in rural counties and small towns, have warned that the resulting revenue loss would undercut basic services. The measure needs 60% of the vote to pass on November 3.
Read the Realtor.com analysis: https://www.realtor.com/news/trends/florida-property-taxes-eliminate-home-values-desantis/