That’s what we should have seen as the headline in recent Canadian news stories about Amendment 3, which Florida voters will vote on November 3, 2026.
Le Soleil de la Floride has also appeared on Canadian television and radio programs to clarify the proposed measure, which states: “This amendment raises the property tax exemption for primary residences—for all taxes other than school taxes—to $150,000 in 2027 and to $250,000 in 2028, and then adjusts it for inflation thereafter.” […] “This amendment reduces the annual cap on property tax increases for properties other than the primary residence from 10% to 5%.”
In this regard, the ACS (Canadian Snowbirds Association—see p22 of November edition) has worked with state legislators to cap the annual property tax increase rate at 5%, down from the current 10%, with the aim of protecting Canadian real estate buyers in Florida, who remain the leading international investors in the state.
Details on Who Is Affected
Floridians already benefit from a property tax exemption of up to $50,000 on their primary residence. Only U.S. citizens and green card holders (permanent residents) are eligible for the tax exemption, and only on their primary residence. Thus, a Floridian who owns a second or subsequent property in Florida cannot be exempt from property taxes on any so-called secondary property, nor can a “snowbird” from the northern states who invests in a seasonal residence in the Sunshine State if their primary residence is in New York or Boston, for example.
Division Among Floridians
Poll results show that Floridians are divided on Amendment 3. According to a poll released on October 21 by the Public Opinion Research Lab (PORL) at the University of North Florida, 50% of likely voters in Florida’s midterm elections support Amendment 3. This figure is 10 percentage points below the 60% threshold required to amend the state constitution.
Supporters of the measure argue that it would provide essential financial assistance amid inflation and rising living costs, and that cities and counties would find other ways to fund themselves. Opponents warn of potential severe funding crises at the local level, which could affect public services such as emergency services and law enforcement, cultural organizations and libraries, parks, hospitals, after-school programs, and animal services.
Given that property taxes account for about 74 percent of total local government revenue in Florida, state economists project that expanding the property tax exemption will result in a loss of $5 billion for local budgets in 2027 alone—a figure they estimate will rise to nearly $12 billion annually by 2031.
The Slap in the Face to Canadians and Brazilians
Outgoing Republican Governor Ron DeSantis, who proposed eliminating property taxes, emphasized that any local tax exemption should protect full-time Florida residents, not investors. He stated, “I don’t want to give tax breaks to Canadians.” He preferred that “Canadian and Brazilian tourists subsidize the state.” But thanks to the ACS’s intervention with state lawmakers to cap the rate of increase in property taxes on second homes at 5% instead of 10%, real estate investors in Florida may be better protected.
Translated with Deepl