Agenda

FEDC EDUCATE on 3

Board Chair Opening Remarks at the September Webinar

Relief Is Coming. The Question Is How.

Let me start with something that may surprise some people: FEDC is not against property tax relief. Florida homeowners are feeling real pressure from rising values, insurance, and cost of living, and that pressure is legitimate. Property tax relief is coming to Florida one way or another. The question in front of us is not whether relief happens. It’s how, and who ends up paying for it.

That’s why this conversation matters now, and it matters beyond November. Florida’s Taxation and Budget Reform Commission, which our Constitution convenes only once every twenty years, meets again in 2027. Whatever happens at the ballot box this fall, the state’s tax structure will be on the table next year. Economic developers need to be informed, credible voices in that discussion, not spectators to it.

What Amendment 3 Actually Does

So let’s be clear about what Amendment 3 does. It would raise the non-school homestead exemption to $150,000 next year and $250,000 the year after. It would cut the cap on annual assessment increases for non-homestead property, which includes commercial property and rentals, from 10 percent to 5 percent. And it directs the Legislature to set out a process for eliminating non-school homestead property taxes altogether, without identifying a single dollar of replacement revenue.

The state’s own Revenue Estimating Conference puts the recurring cost at about $12 billion a year, and that figure doesn’t include the full elimination that the amendment points toward.

The Cost of Services Does Not Go Away

Now here is the part every voter needs to hear. The cost of services does not go away when the revenue does. Fire rescue. Law enforcement. Parks and recreation. Libraries. Animal control. Mosquito control. Roads, water, and sewer. Residents still expect a firetruck when they call 911 and clean water when they turn on the tap. Someone still pays for those things.

And when you shrink the homestead share of the tax base, the math has only one direction to go. The burden shifts to what’s left: businesses, commercial and industrial property, and renters — many of whom are the young workers and families our employers are trying to attract. Likely those who can least absorb the shift will be asked to carry more of it.

Revenue Growth Is the Cost of Keeping Up

We also need to correct a common misperception. Yes, local government revenues have grown. They’ve grown because Florida has grown. More residents, more rooftops, more businesses, and more demand for services. Growth brings revenue, but it brings obligations with it: new stations, new roads, new parks, new staff. Revenue growth in a fast-growing state is not evidence of excess. It’s the cost of keeping up.

For some communities, the consequences won’t be gradual. Local finance officials are warning that some counties and cities — particularly smaller and rural ones — could face insolvency within a few years, leaving them dependent on the state to deliver basic services. That’s not a talking point. It’s a threat to local self-determination.

Why FEDC Has Taken a Position

I want to be very direct about why FEDC has taken a position. This is not a partisan issue. It’s an economic development and community sustainability issue. Our Board issued a statement of opposition because Amendment 3, as structured, would erode the revenue base that supports Florida’s counties and municipalities and disrupt the public-private partnership that has powered this state’s success.

Think about what we do every day. We are the essential intermediaries between the companies deciding where to invest and the communities competing for that investment. When a site selector asks about infrastructure readiness, workforce training, quality of place, and the stability of a community’s finances, we’re the ones who have to answer. Amendment 3, as positioned, puts at risk the very tools we rely on: infrastructure investment, site readiness, placemaking, and the partnerships that close deals. In a very real sense, it threatens our ability to do our jobs — and the essential services our communities depend on.

FEDC supports thoughtful property-tax reform that delivers meaningful relief to homeowners while preserving a community’s ability to attract capital and talent, provide essential services, and sustain a vibrant local economy. Amendment 3 doesn’t strike that balance.

The Question to Carry Forward

So here is the question I’d ask you to carry out of this webinar and into every conversation you have — with elected officials, with business leaders, and with your neighbors:

Should Amendment 3 receive the 60 percent support required to pass, what is the plan to provide essential services without shifting the burden to the job creators who fuel Florida’s economy?

Election Day is November 3rd. Our job isn’t to tell anyone how to vote. It’s to make sure every voter understands what they’re voting on.

FEDC Amendment 3 Position Statement

Florida continues to attract talent, businesses, and investment—and that growth creates demands of its own. Much of Florida’s success stems from the combined efforts of industry, education, and government to provide the community assets and public infrastructure essential to business investment and job creation.

Amendment 3 would erode the revenue structure supporting Florida’s counties and municipalities, creating uncertainty and disrupting the public-private model that has helped drive our state’s economic success. That model enables critical investments in transportation infrastructure, placemaking, and the creation of high-quality jobs that provide sustainable wages for Florida families.

The Florida Economic Development Council supports thoughtful property-tax reform that delivers meaningful relief to Florida homeowners while preserving communities’ ability to attract capital and talent, provide essential services, and sustain vibrant local economies. Amendment 3, as currently structured, does not achieve that necessary balance.

FEDC’s Statement of Opposition to Amendment 3

The following resources are available as you speak with your elected officials: