Florida Realtors Push for Yes Vote on Amendment 3, Despite Opposition

The Florida Realtors Association, a key trade group that successfully pressured the Florida Legislature to stop Orange County’s temporary rent control in 2022, is now urging Florida residents to vote in favor of Amendment 3, which will be on the ballot this November.

Opponents express concern that passing Amendment 3 could result in substantial funding losses for critical public services like law enforcement, fire departments, and libraries, with state economists estimating a $5 billion revenue reduction for local governments in the first year alone. The measure proposes to increase the non-school homestead property tax exemption significantly by 2028 and lower the assessment increase cap for non-homestead properties. The Realtors assert that the amendment will alleviate Florida’s housing affordability crisis, although critics warn it may lead to increased rents as local governments seek to compensate for lost revenue.