Florida Realtors Pump $10 Million Into Campaign Backing Amendment 3

Overview

• This week Florida Realtors gave $10 million to the Vote Yes on 3 committee, which is chaired by CEO Margy Grant and run by COO David Garrison, sharply increasing pro‑Amendment ad and outreach capacity with about two months until the Nov. 3 vote.
• Amendment 3 would raise the non‑school homestead exemption to $150,000 in 2027 and $250,000 in 2028, index the exemption thereafter, cap annual assessment growth on non‑homestead properties at 5%, and restrict how local ad valorem revenue may be spent.
• Legislative and independent estimates project large local revenue losses as the measure phases in — roughly $5 billion in the first fiscal year and about $11–12 billion annually when fully implemented — putting pressure on county and city budgets.
• Opponents including Sierra Club Florida, the Florida Sheriffs Association, police and fire unions, and many local officials warn the shortfalls could force cuts to stormwater and flood mitigation, parks, public safety, and could prompt new fees or higher taxes on non‑homestead properties.
• The Legislature placed the amendment on the ballot in June, a court ordered a neutral rewrite of the ballot summary in August, the measure requires 60% voter approval to take effect, and, if approved, would become effective Jan. 1, 2027.