Florida Property Tax Shift

Florida Amendment 3 May Shift Property Taxes to Renters and Increase Costs

If voters approve Amendment 3 next month, the tax burden could shift to renters. Local governments could increase property taxes on non-homestead property to compensate for losses, potentially raising rents. National property tax expert, Jared Walczak, found that the average Florida apartment's property tax bill could increase by $406 in 2028 and $554 in 2031, a 15% and 16% increase if local governments raise rates enough to offset the lost revenue. The property tax for a single-family rental home could increase $1,081 annually in 20 28, or $631 in 2030. Walczaks warned that Amendment 3 could slow property development and discourage construction of new affordable housing units.

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