A report shows that the campaign working to see Amendment 3 on the statewide ballot win approval in November is vastly outspending opponents of the measure.
The campaign to fund the measure raised $18 million through Sept. 25. All of that financial support came from the Florida Association of Realtors.
The two political committees opposing Amendment 3, Floridians for Shared Prosperity and Vote No on 3 Florida, have raised a combined $537,357. That’s a ratio of more than 33:1 that the pro-Amendment 3 forces have raised so far over the opposition.
That compilation was originally provided by OpenSecrets, the Washington, D.C., independent research group that tracks money in U.S. politics.
The proposal would raise the homestead exemption on non-school taxes to $150,000 in 2027 and $250,000 in 2028. It would lower the annual assessment growth cap from 10% to 5% for non-homestead properties such as commercial buildings and rental units, and would require people moving to Florida after Dec. 31 to wait 5 years in continuous residency before qualifying for the full increased exemption.
State economists have projected that those changes would reduce local government property tax collections by up to $12 billion annually by its fifth year.
Public polling has been split on whether the measure can generate the 60% yes vote required for approval. While a recent St. Pete Polls survey shows the measure losing by getting only 45% support, it also showed that a quarter of the 913 surveyed said they were undecided.
However, a new survey of 504 registered Florida voters shows Amendment 3 drawing 74% support, according to a Pioneer Institute poll on the housing market released Tuesday.
The Pioneer Institute is a Boston-based think tank that has just launched a research initiative in Florida aimed at studying housing and education.
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