How much could you save if Florida’s Amendment 3 passes? Here’s how to find out

Retiree Walter Rasor is always looking for a way to save, and a property-tax cut on his condo sounds appealing at first glance.

Read more How much could you save if Florida’s Amendment 3 passes? Here’s how to find out

“No one should vote for this unless they know specifically their financial picture,” Rasor said.

If passed, Amendment 3 would reduce the taxable value of primary homes by $150,000 in 2027 and $250,000 in 2028 for non-school taxes. However, cities and counties warn the amendment could trim millions of dollars from local budgets, potentially affecting municipal services.

CBS News Miami asked a professional appraiser to run the numbers for Rasor.

“My estimated savings for year one is $108,” Rasor said after reviewing the breakdown. “That’s about $10 a month.”

Rasor lives in Sunrise, whose website says the city could lose $26 million in revenue over two years if the amendment passes.

For Rasor, $10 a month isn’t worth the trade-off.

“I wonder if the city has to cut something. And what if that cut does go into emergency or medical or fire or police,” Rasor said. “I can’t afford for $100 to think about that.”

Read more How much could you save if Florida’s Amendment 3 passes? Here’s how to find out

Casey Vockell ran the estimate using the same formula that county property appraisers use. Vockell created the website myexemptioncheck.com, where property owners can get a rough idea of their potential savings.

“It’s important that you know what you’re voting for,” Vockell said. “There’s a price for everything, and you need to know what the value of what you’re giving up really is.”

Brickell condo owner Vanessa Mesa is also looking for ways to reduce housing costs. When Vockell ran the numbers for her, the savings were significantly higher.

“$1,351.78,” Mesa said. “That is an amount that I can use toward the improvement of my home.”

She added: “This would probably make my decision to say yes to Amendment 3.”

As for Rasor? “No,” he said when asked how he plans to vote.

Vockell recommends that property owners have a professional break down all the numbers for the most accurate estimate. The online estimator calculator can be found here.

Read more Messi, new coach González aim to keep momentum

This report was produced by Miami Herald news partner CBS News Miami.