TALLAHASSEE, Fla. — Florida Realtors has poured $10 million into a political committee supporting Amendment 3, providing the proposed property-tax overhaul with its first major campaign war chest less than two months before Florida voters decide its fate.
Campaign finance reports show Florida Realtors contributed $10 million last week to Vote Yes on 3, a political committee established to support passage of the constitutional amendment.
Florida Realtors formally endorsed Amendment 3 last month, arguing the proposal would provide meaningful property-tax relief and help make homeownership more attainable in Florida.
“Florida Realtors supports Amendment 3 because it offers voters an opportunity to provide meaningful property tax relief while strengthening Florida’s commitment to attainable homeownership,” the organization said when announcing its endorsement.
The group encouraged Floridians to vote yes on the measure in November.
What Amendment 3 Would Do
Amendment 3 would make sweeping changes to Florida’s property-tax system.
According to the official ballot summary, the proposal would increase the homestead exemption for non-school property taxes to $150,000 in 2027 and $250,000 in 2028, with inflation adjustments after that.
The amendment would also reduce the annual cap on increases in assessed value for non-homestead properties from 10% to 5%.
The changes would take effect Jan. 1, 2027, if voters approve the amendment.
School property taxes would not receive the increased homestead exemption.
The measure also directs the Legislature to establish a uniform process allowing counties and municipalities to increase homestead exemptions further, potentially up to the property’s full assessed value. Special districts could do the same with voter approval.
Opposition Warns About Local Services
The $10 million investment comes as Amendment 3 faces opposition from organizations representing law enforcement, firefighters and local governments.
The Florida Sheriffs Association, Florida State Fraternal Order of Police and Florida Professional Firefighters are among the groups that have raised concerns about the proposal.
Opponents argue that dramatically reducing property-tax revenue could put pressure on the local funding used for law enforcement, fire protection, emergency medical services and other government operations.
Supporters counter that Florida homeowners need substantial relief after years of increasing housing costs and property-tax bills.
That debate is now likely to intensify as Florida Realtors’ money gives supporters the resources to advertise and organize statewide.
Amendment Already Faced Court Fight
The amendment has also faced a legal battle over how it will be presented to voters.
A Leon County judge ruled in August that portions of the original ballot language were misleading and ordered the wording rewritten.
Among the language rejected by the court was the original title, “Save Our Homes From Excessive Property Taxes.”
The revised ballot title is more neutral:
“Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments.”
The ruling did not remove Amendment 3 from the ballot.
DeSantis Backs Amendment
Gov. Ron DeSantis has said he supports Amendment 3, although the Legislature’s final proposal was not the property-tax plan he initially sought.
The amendment emerged from a June special legislative session focused heavily on property-tax relief.
More recently, DeSantis has indicated he intends to help the measure win voter approval, adding another major political force to the campaign as Election Day approaches.
$10 Million Changes the Campaign
Until now, opponents had established much of the organized campaign infrastructure surrounding Amendment 3 while supporters lacked a comparable financial operation.
Florida Realtors’ $10 million contribution changes that equation almost overnight.
The money gives Vote Yes on 3 the ability to finance television and digital advertising, voter outreach and other campaign activities during the final stretch before the election.
It also puts one of Florida’s most influential statewide trade associations directly into the center of the property-tax debate.
For the real estate industry, the stakes are substantial.
Florida’s housing market has been pressured by affordability concerns, elevated borrowing costs and a growing inventory of homes for sale in parts of the state. Supporters of Amendment 3 argue reducing property taxes could lower the ongoing cost of homeownership.
Opponents, however, contend the savings for some property owners could come at the expense of local-government revenue and potentially shift financial pressures elsewhere.
Florida voters will ultimately decide the issue on Nov. 3.
Because Amendment 3 would change the Florida Constitution, it must receive at least 60% voter approval to pass.
With Florida Realtors now committing $10 million to the campaign, the fight over property taxes appears poised to become one of the most heavily contested issues on Florida’s 2026 ballot.
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