At a news conference in West Palm Beach on Tuesday, October 20, U.S. Rep. Lois Frankel warned that Palm Beach County could lose millions of dollars a year in federal money if Florida voters approve Amendment 3, the proposed state constitutional amendment that would raise the homestead exemption to $250,000 over two years and lower the annual assessment-increase cap for non-homestead properties from 10% to 5%.
Frankel, joined by State Rep. Rob Long of Delray Beach and union and nonprofit leaders, argued that many federal grants require local governments to put up matching funds. Less property-tax revenue, she said, would mean qualifying for fewer grants, including ones that pay for firefighters and firefighting equipment. Long added that local governments could shift more of the tax burden onto rental and commercial properties, raising costs for renters.
Supporters of Amendment 3 argue it provides needed relief to Florida homeowners facing rising living costs, inflation, and soaring insurance premiums. Palm Beach County has estimated a first-year revenue shortfall of about $417 million if the amendment passes.
Why it matters: early voting is already underway across South Florida, and Amendment 3 is on the November 3 ballot — so homeowners and renters here are deciding this question now.
