Florida economic development group opposes Amendment 3

The Florida Economic Development Council is opposing Amendment 3, warning the proposed property tax changes could undermine local economic development efforts. The November ballot measure would increase homestead exemptions to $150,000 in 2027 and $250,000 in 2028, excluding school district taxes. FEDC Executive Director Beth Cicchetti said the amendment would “erode the revenue structure supporting Florida counties and municipalities,” creating uncertainty for investments in transportation, communities and jobs. The council said it supports property tax relief for homeowners but believes the amendment does not adequately preserve local governments’ ability to attract investment and talent and support local economies. The measure requires approval from at least 60% of voters.