Amendment 3: Why Our Office Is Voting YES on November 3
If you own a home in Central Florida — or you're thinking about buying one — there's something on your November 3rd ballot you need to know about: Amendment 3.
In plain English, Amendment 3 lowers your property taxes. Here's how.
WHAT AMENDMENT 3 DOES
Right now, Florida's homestead exemption knocks $50,000 off your home's taxable value for non-school taxes. Amendment 3 would raise that to $150,000 in 2027 and $250,000 in 2028, and then it keeps up with inflation after that. That's real money back in your pocket every single year.
It also helps people who own property here but don't homestead it — investors, second-home owners, and small business owners. Right now their assessed value can jump up to 10% a year. Amendment 3 caps that at 5%, so they're not getting blindsided by huge tax spikes.
One thing to know: if you move to Florida after December 31st of this year, you'd get the current exemption right away and qualify for the bigger one after five years of residency.
It takes 60% of the vote to pass, so every vote truly counts.
WHY WE'RE VOTING YES
Our office talks to buyers and sellers every single day, and we hear the same worry over and over: "Can I actually afford to live here long-term?" Insurance costs are up, and property taxes keep climbing with home values. Amendment 3 is one of the few things on the ballot that directly puts money back in homeowners' pockets.
For our sellers, it means your home becomes more affordable to the next buyer — and that's good for your sale price. For our buyers, especially folks relocating to The Villages and Lake County, it means the Florida dream stays within reach instead of getting taxed out of it.
We're also thinking about our longtime residents. Nobody should be taxed out of a home they've lived in for twenty years just because the market went up around them. This amendment helps make sure that doesn't happen.
To be fair, some county and city officials are against it because it could mean less tax revenue for local services. We hear that concern. But we believe keeping homes affordable for the people who live in them has to come first — and local governments will still have the tools to fund what matters.
THE BOTTOM LINE
Amendment 3 means lower property taxes for Florida homeowners, more protection against big assessment jumps, and a more affordable Central Florida for everyone trying to buy, sell, or simply stay in the home they love.
That's why our whole office is voting YES on Amendment 3 on November 3rd — and we hope you'll join us.
Have questions about what Amendment 3 could mean for your home's taxes, or thinking about buying or selling in Central Florida? Give us a call at (352) 933-3300. We'd love to help.
— Michelle Bachmann, Broker/Owner, Atlas Central Florida Realty
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Michelle Bachmann
Broker License ID: BK3568252
+1(352) 933-3300 | atlascentralfloridarealty@gmail.com