Florida approves property tax relief: Insiders call state ‘unbeatable’
Leaders and attendees at The Real Deal Miami Real Estate Forum speak to Fox News Digital about the passing of Florida’s Amendment 3, which expands homestead exemptions on primary residences.
On Election Day Tuesday, a majority of Florida voters approved a sweeping property tax cut for homeowners — and the excitement from real estate heavyweights on the ground in Miami was resounding: the Sunshine State just made itself unbeatable.
Gathering at The Real Deal Miami Real Estate Forum just hours after the polls closed, developers, top brokers, homeowners and out-of-state transplants celebrated the passage of Amendment 3. Brushing off critics’ warnings of municipal service cuts, attendees framed the historic homestead expansion as a masterclass in fiscal discipline that they believe will only accelerate the nationwide exodus from high-tax states.
“It’s an optics play. It really just shows that Florida continues to pass innovative and progressive legislation that serves its constituents,” top luxury broker Dina Goldentayer told Fox News Digital. “And while other states are doing a completely different agenda, Florida’s passing such a groundbreaking tax, beneficial legislation.”
“I think that Florida voters, like all voters, want to pay less in taxes. So it made a lot of sense that it got passed,” The Real Deal founder and publisher Amir Korangy said. “I feel like Florida politicians need to do a lot of things right, but they do get some things truly, truly right. And this was one of them … The more we can cut taxes, the more money can flow back into the economy.”
WHAT TO KNOW ABOUT FLORIDA’S PROPERTY TAX MEASURE AND HOW IT COULD AFFECT HOMEOWNERS
“We know what Florida real estate has done over the recent years and the continued growth,” Premier Sotheby’s International Realty’s Adam Kaufman added, “but any reason to cut costs and bring costs down will push buyers further into our market and give the sellers the confidence in selling their property at a higher price.”
A home for sale in North Miami, Florida, on Wednesday, Aug. 20, 2025. (Getty Images)
Attendee and voter Shana Goldwasser was “100%” bullish on the legislation fueling further population migration: “We’ve been waiting for this forever … and I think everyone else will be really excited about this … People are going to move from wherever they’re coming because [of] no property taxes.”
Passed by 62% of voters, Amendment 3 expands the homestead exemption on primary residences from $50,000 to $150,000 in 2027 and $250,000 in 2028 for non-school property taxes, effectively shielding up to a quarter-million dollars of a home’s assessed value from certain local property taxes for eligible homeowners. School property taxes remain in place.
Andres Asion, broker-owner of Miami Real Estate Group, argued the expanded exemption won’t “shift very much for buyers and sellers” in the higher-end market, pointing out that an extra $100,000 in savings “isn’t going to move the needle”…
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