Florida tax vote could widen financial gap for Canadian snowbirds
Florida voters will decide on November 3, 2026, whether to approve Amendment 3, a constitutional measure that would significantly increase property tax exemptions for permanent residents while leaving Canadian snowbirds and other seasonal homeowners without similar benefits. If passed, the amendment would raise the non-school homestead property tax exemption from $50,000 to $150,000 in 2027 and $250,000 in 2028, with future adjustments for inflation. However, seasonal property owners, including over 500,000 Canadians who own homes in Florida, would not qualify for these expanded exemptions.
The measure has sparked concern among Canadian snowbirds, who already pay an estimated $600 million annually in property taxes. Florida Gov. Ron DeSantis has openly acknowledged that the amendment targets non-homestead properties, which include second homes, investment properties, and seasonal residences. The amendment also caps assessed value increases on non-homesteaded properties at 5% per year, replacing the current 10% limit, though critics argue this offers far less relief than the expanded homestead exemptions.
The financial pressures on Canadian snowbirds have intensified in recent years. A December 2025 survey by Snowbird Advisor found that only 70% of Canadian snowbirds planned to spend the winter in the U.S., down from 82% the previous year. Rising insurance costs, a weakening Canadian dollar, and shifting market conditions have encouraged many Canadians to reconsider their Florida real estate holdings. The potential passage of Amendment 3 could further widen the tax gap between permanent and seasonal homeowners, adding another layer of financial strain.
For wealth advisors, the upcoming vote introduces a new factor in cross-border property decisions. Clients evaluating whether to hold or sell Florida property will need clarity on how the tax differential between permanent and seasonal owners might evolve. The Florida Legislature's proposal also includes a provision to eventually eliminate homestead property taxes, though no deadline or replacement revenue has been identified. State analysts estimate the measure could reduce local property tax revenue by nearly $12 billion annually if fully implemented.