Realtors Bet $18M On Florida Tax Cuts, But Not All Voters Are Buying It
A high-stakes push to slash property taxes across Florida has turned into one of the country’s most expensive and lopsided ballot fights, even as fresh polling suggests the measure is falling short of approval.
Campaign finance data compiled by OpenSecrets shows committees on both sides have raised roughly $18.5 million. Pro-amendment group Vote Yes on 3 took in $18 million through mid-September—roughly 38 times the $472,379 collected by opponents. Every dollar of that $18 million came from a single backer: the Florida Association of Realtors.
Yet despite the advertising blitz, voters appear skeptical. Florida constitutional amendments require 60% approval to pass, but a Sept. 15-17 StPetePolls survey of 913 likely voters found support sitting at just 44.9%, with 30.4% opposed and 24.8% undecided.
Gov. Ron DeSantis, who called the special legislative session behind the initiative, acknowledged the steep climb during a Sept. 18 appearance at the University of Alabama. “It’s a live issue. I don’t know if it’s going to pass with 60%,” DeSantis said. “I wanted to be bolder. That would bring out more voters who were unenthused about voting. We’ll see if those folks are enthused enough about the Legislature’s proposal.”
If passed, Amendment 3 would hike the homestead exemption for non-school property taxes from $25,000 to $150,000 in 2027 and $250,000 in 2028, tying future increases to inflation. It also caps assessment hikes on rental and commercial properties at 5%, down from 10%, while limiting local governments to spending property tax revenues strictly on core services like infrastructure, public safety, and pensions.
Florida Gov. Ron DeSantis
State economists project the measure will cut local government revenues by $5 billion in 2027-28, reaching $10.7 billion annually by 2030-31, according to the report.
Florida Realtors argues the savings are crucial for homeowners: “The cost of owning a home doesn’t stop after you buy it. Property taxes, insurance premiums and other everyday expenses continue to put pressure on Florida households. Amendment 3 would lower property tax bills for eligible homeowners and help make it more affordable for people to stay in the homes they already own.”
Opponents, including first responders, local officials, and business groups, warn that the shortfall will gut public services.
“Public safety is the single largest budget item in more than 80% of Florida communities, consuming more than half of every general fund dollar spent,” said Vote No on 3, a committee led by former Leon County Commissioner Bryan Desloge. “When billions leave the tax base with no replacement plan, that’s where the cut lands.”
Opposing groups also include the Florida Sheriffs Association, Florida Association of Firefighters, Florida State Fraternal Order of Police, Tampa Bay Chamber, and the Florida League of Women Voters.