What Amendment 3 Could Mean for Commercial Real Estate in Florida

Florida voters will consider Property Tax Amendment 3 on November 3, 2026. The proposal would expand the homestead exemption and reduce the annual assessment cap for non-homesteaded properties, including commercial and rental properties, from 10% to 5%.

For commercial property owners and managers, the lower cap could slow growth in taxable assessed value. The broader question is how cities and counties would respond to reduced property-tax revenue while continuing to fund services and infrastructure that buildings and communities depend on.

BOMA Florida has prepared a statewide impact guide explaining the proposal, its estimated fiscal impact, and the perspectives of organizations weighing in. BOMA Florida supports homeowner property-tax relief and encourages a measured approach that protects essential services. View BOMA Florida’s Property Tax Amendment 3 Statewide Impact Guide below.

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