Florida could slash property taxes – but not for Canadian snowbirds
For snowbirds, it is important to understand what is actually on the ballot and how these changes will affect their properties, the Canadian Snowbirds Association said.
Florida voters will decide on Amendment 3 during the midterm elections on November 3, which could significantly lower property taxes for residents - but not for Canadian snowbirds. The proposal, introduced by Governor Ron DeSantis, seeks to amend the state's constitution to raise the homestead exemption from $51,411 to $150,000 in 2027 and $250,000 in 2028. If approved, this exemption would be indexed to inflation, starting in 2029.
DeSantis plans to raise taxes on residential, Airbnb, and commercial properties to offset the revenue loss from the exemption increase. The amendment aims to eventually eliminate property taxes entirely. However, critics warn that the shift could lead to budget shortfalls of $12 billion for municipalities, leading to potential cuts in services such as fire departments, police, and mosquito control.
For Canadian snowbirds, who make up 37.8% of international property buyers in Florida, a key concern is that the amendment would only lower the tax increase cap from 10% to 5%. This change would offer property owners more stability in assessment increases. However, Canadian tourism to the US is on the decline, with a 37% drop in the number of Canadians planning winter trips to the U.S. in comparison to 2024, according to the Travel Health Insurance Association of Canada.
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