Florida Amendment 3: BIG Property Tax Cuts… But Who Pays? w/ Adam Locklear and Gary Booth. #004

Florida Amendment 3: BIG Property Tax Cuts… But Who Pays? | Managing the Madness Ep. 4 Florida property taxes could be headed for a major shakeup. But will Amendment 3 actually make housing more affordable or could it create new problems for homeowners, real estate investors and renters? In Episode 4 of Managing the Madness, Adam Locklear and Gary Booth break down Florida Amendment 3, the proposed changes to homestead exemptions, and what they could mean for the Florida real estate market. We're talking real dollars, not just politics. What could happen to property taxes on a $300,000, $500,000, or $700,000 home? How would the proposed 5% assessment cap affect investment properties? And what happens when someone moves to Florida from another state? This Episode: 🏠 Florida Property Tax Cuts: How the proposed homestead exemption changes could reduce taxes for qualifying homeowners. 💰 Real Dollar Savings: What lower property taxes could mean for monthly housing payments and annual expenses. 📉 Real Estate Investors: How reducing the non-homestead assessment growth cap from 10% to 5% could affect rental properties and long-term investment returns. 🚚 Moving to Florida: Why new residents could face different property tax rules than established Florida homeowners. 📈 Property Values: Could lower property taxes increase buyer demand and drive home prices higher? 🏛️ Local Government Budgets: If property tax revenue decreases, could counties raise millage rates, increase fees, or reduce services? 🔑 Landlords and Renters: Could these changes eventually affect rental rates, cash flow, and housing affordability? Big Question If Florida homeowners pay less in property taxes, who ultimately pays the difference? Adam and Gary bring their experience in real estate brokerage, investing, and property management to explore both the potential benefits and unintended consequences of Amendment 3. About Managing the Madness Hosted by Adam Locklear and Gary Booth, Managing the Madness covers real estate, financial markets, economics, investing, entrepreneurship, and the bigger picture. Adam and Gary are the owners of 1 Realty Corp and 1 Realty Management, serving property owners, investors, buyers, sellers, and real estate agents throughout Northeast Florida. We discuss what's happening in the economy, what it means for your money, and how it affects real estate. Join the Conversation Do you think Florida should reduce property taxes, even if it means changing how local governments are funded? Tell us what you think in the comments. 👍 Like the episode. 🔔 Subscribe for more real estate and economic discussions. 📢 Share this video with a Florida homeowner, investor, or someone considering moving to the Sunshine State. This episode discusses a proposed constitutional amendment. Tax examples are illustrative, and actual savings or costs depend on property assessments, exemptions, local tax rates, and implementation. #FloridaAmendment3 #FloridaPropertyTaxes #Amendment3 #FloridaRealEstate #HomesteadExemption #RealEstateInvesting #PropertyTaxes #ManagingTheMadness #FloridaHousingMarket #AdamLocklear #GaryBooth