Florida Amendment 3 could raise rental costs, study finds

Florida’s proposed Amendment 3 could shift property tax burdens onto renters if local governments raise tax rates to offset expanded homestead exemptions, according to a September study by tax policy consultant Jared Walczak. Under that scenario, annual property taxes on apartment units could increase by $340 in Lee County, $134 in Collier County and $303 in Charlotte County by 2028. Statewide, the average increase would be $406 per apartment unit. The study warns landlords could pass much of those costs to tenants through higher rents. Actual increases would depend on local government decisions.