Florida voters are heading to the polls next month to decide the fate of Amendment 3, a ballot measure that could radically reshape the state’s property tax system, CBC reported. If approved, the measure would slash property taxes for primary residents, known as homesteaders, effectively eliminating them for homes valued at $250,000 or less. For those with more expensive homes, the tax burden would still see a significant reduction.
Governor Ron DeSantis has been a vocal proponent of this shift, characterizing the current system as a form of modern-day feudalism. He argues that homeowners shouldn’t have to pay to use their own property. While the plan sounds like a dream for many locals, it comes with a massive $12 billion annual price tag for state and local governments. To plug that hole, the state is looking toward non-resident property owners, specifically Canadians, to pick up the slack.
