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Explore Florida Just Voted for Lower Property Taxes. Now What? with 375,549 views, 975 likes, and 2 comments. Experience the impact of this video content that has captured audience attention.

Well, Florida certainly gave us something to talk about last night. Of all the election results, one in particular caught our attention: Amendment 3, the proposal to significantly reduce property taxes in Florida, received the support it needed to pass. We have to admit, we weren't entirely convinced it would happen. Getting 60% of voters to agree on just about anything these days is no small accomplishment. But apparently, the idea of lower property taxes is something Floridians can agree on. And while there's plenty to discuss about the amendment itself, what interests us most is what it could mean for Sarasota's real estate market. Beginning in 2027, qualifying homeowners will see their homestead exemption for non-school property taxes increase to $150,000, rising to $250,000 in 2028. And for owners of second homes, investment properties, and commercial real estate, the annual cap on increases in assessed value for non-school taxes will drop from 10% to 5%. Those are meaningful changes, particularly in a market like ours, where so many homeowners maintain residences elsewhere. But there's another interesting piece to this. The amendment establishes different eligibility rules for existing Florida residents and those who establish residency after December 31, 2026. Could that encourage some prospective buyers to reconsider their timing? And could the prospect of lower property taxes give Florida real estate another advantage as we head into the new year? It's certainly possible, although only time will tell how much of an impact we'll actually see. What do you think about Amendment 3? We'd love to hear your thoughts. And whether you're considering a move or simply curious about what these changes could mean for your property, we're always happy to have that conversation. Warmly, Roger Pettingell, Thomas Arbuckle & Pettingell Professionals #1 Duo in the Nation | #1 in Sarasota for 15+ Years $400M Sales Volume in 2024 & 2025 | $3B Career Sales Volume Coldwell Banker Global Luxury 📞 941.387.1840 | ✉️ [email protected] 🌐 www.pettingell.com . . #pettingellprofessionals #sarasotarealestate #sarasotaflorida #sarasotaluxuryrealestate #sarasotahomes #floridarealestate #floridahomes #floridaliving #floridalifestyle #floridapropertytaxes #amendment3 #propertytaxreform #propertytaxes #homesteadexemption #floridahomestead #realestatemarket #realestateinsights #marketupdate #sarasotamarket #luxuryrealestate #luxuryhomes #waterfrontliving #waterfrontrealestate #longboatkey #longboatkeyrealestate #siestakey #birdkey #lido key #rogerpettingell Details of this estate are available online at www.pettingell.com. For sale by Roger Pettingell. Roger is the number 1 single Coldwell Banker agent in Florida for 2008, 2010, 2012 - 2023, and ranked among the top 250 agents in the nation in 2014, 2016, 2017 and 2018 by REAL Trends as reported in the Wall Street Journal. He closed over $105.4 million in residential real estate sales in 2017. See all the featured listings on Longboat Key and Sarasota at www.pettingell.com.

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