In July 2026 I picked five changes affecting what Southwest Florida owners and buyers pay. I also tried to separate the changes already in place from the proposals. When I checked again in October 2026, all five still mattered. Two had moved: Amendment 3 had a new ballot title, and Lee County’s revised flood maps had an effective date of March 2, 2027. Here’s what I said in the video and where each issue stands now.
| # | Change | Where it stood in July | Where it stands in October 2026 |
|---|---|---|---|
| 1 | Amendment 3, homestead and property tax | Proposed, on the November 3 ballot, needs 60% | Still on the ballot under a new title issued August 14. Still needs 60%. |
| 2 | Fannie Mae condo reserve minimum | Rising from 10% to 15% for applications dated January 4, 2027 or later | Unchanged |
| 3 | Making Condos Safer and Affordable Act | Introduced June 30, 2026 | Still in House committee |
| 4 | Lee County flood map revisions | Expected around summer 2026 | Final, effective March 2, 2027 |
| 5 | Inventory | Naples at 5.9 months of single-family supply (June) | NABOR: 5.4 months overall in August, inventory down 16.3% |
Are Florida property taxes going away?
No. The Legislature approved a proposed constitutional amendment. Voters will decide on November 3, 2026, and it needs at least 60% to pass.
If approved, the homestead exemption for taxes other than school taxes would rise to as much as $150,000 in 2027 and $250,000 in 2028. For anyone relocating, the catch is the residency date. People who maintained a permanent Florida residence as of December 31, 2026 would get the larger exemption. Those who establish residency after that date would start with the existing exemption, up to $50,000 against non-school taxes, and wait until their fifth year for the larger amount (enrolled text).
Two points from July still matter. The language turns on when you maintained a permanent Florida residence, not when you bought a house. That affects people renting here now. An assessment cap also doesn’t mean your bill can never rise. School taxes, millage rates, reassessment after a sale and other assessments still affect the final number. The proposal would cut the yearly cap on non-homestead property, including second homes and rentals, from 10% to 5% for non-school taxes.
What changed since July. On August 4, a Leon County judge ruled that the original title and summary were misleading. The amendment stayed on the ballot. On August 14, the Attorney General issued a new title that describes it plainly as an increased homestead exemption and a lower cap on increases in non-homestead property assessments.
An update since the July video: the December 31, 2026 date is a date inside a proposal, and the rules for proving residency on that date would be set by law after the vote. Don’t buy or sell as if it has passed. Our homestead and domicile post covers the details. For timing questions, talk with a CPA.
What’s happening with condo reserves and financing?
The reserve studies are done, and the bills are arriving. Fannie Mae’s condo reserve minimum also rises from 10% to 15% for loan applications dated on or after January 4, 2027.
Florida required many condo associations with buildings of three or more habitable stories to complete a structural integrity reserve study (SIRS) by the end of 2025. Some associations learned that the roof, balconies, concrete, elevators and plumbing all needed work, while the reserve account had been funded as though the building would last forever. It won’t. Owners may see higher monthly fees, larger reserve contributions, special assessments or association loans.
State law now allows assessments as well as owner-approved lines of credit or loans. That changes how the bill is delivered, not its size.
The lending rule matters just as much. Fannie Mae’s current Selling Guide, published August 5, 2026, sets the minimum at 10% of the budget. Under Lender Letter LL-2026-03, it becomes 15% for applications dated January 4, 2027 or later. The exception is an association that funds reserves at the highest amount recommended in a reserve study completed or updated within three years (HousingWire, Condo-Approval.com).
If a building doesn’t qualify, fewer future buyers can get conventional financing there. A $350,000 condo may really be a $350,000 condo with an expensive group project attached and fewer buyers able to finance it.
Before buying, get the latest reserve study and milestone inspection, along with the current budget, reserve balances and recent meeting minutes. Ask whether the association is preparing for the 2027 lending change. Our condo rules post has the full document list. And talk with a licensed lender about your situation.
Is there federal help for condo assessments?
Not yet. The Making Condos Safer and Affordable Act of 2026, H.R. 9569, was introduced on June 30, 2026 by Rep. Debbie Wasserman Schultz with Rep. María Elvira Salazar. It was referred to the House Financial Services Committee and, as of late September 2026, hadn’t moved beyond that step.
The bill would expand FHA-backed financing so qualifying owners could borrow for certain safety-related special assessments. It would also expand federally insured loans for associations completing major required repair work (HousingWire, July 15, 2026). That could help an owner facing a large structural assessment without enough cash to cover it. But a proposed bill isn’t a financial plan. Judge a building on the inspections and reserves it has now, and on financing that actually exists today.
Could your flood zone change?
Yes, for part of unincorporated Lee County. Six revised FEMA map panels there take effect March 2, 2027.
In July I said the revisions were expected around summer 2026. Lee County received FEMA’s letter of final determination in September 2026, setting the effective date as March 2, 2027. Enter your address in the county’s Resident Information Tool to check your panel. In Collier, the inland preliminary maps issued in 2025 weren’t yet effective as of September 2026.
Moving into a higher-risk zone can trigger a flood insurance requirement for a home with a mortgage. It can also affect how the next buyer views the house. And flood zones aren’t evacuation zones. Being outside a high-risk zone doesn’t mean there’s no risk.
When you look at a home:
- Compare the current map with the revised map.
- Ask for the elevation certificate. FEMA’s Risk Rating 2.0 doesn’t require one to provide a rate, but submitting it might lower the premium (FEMA FAQ).
- Read the seller’s flood disclosure. Since October 1, 2025, s. 689.302 requires sellers to disclose known flood damage, flood claims and federal flood aid.
- Get an actual flood quote before the inspection period ends. Also ask whether the seller’s policy can be assigned to you. FEMA allows a buyer to take over the seller’s policy and its discount path.
The federal flood program is authorized through December 11, 2026. Keep an eye on that date if you’re closing in December.
Is there too much inventory in Southwest Florida?
Not in the way the headlines mean. As of June 2026, Naples had 5.9 months of single-family inventory. Bonita Springs had 4.6 months, and Cape Coral had 5.2. I consider six months or less a balanced market.
Naples single-family sales, as I cited them in the July video:
| Naples single-family sales | 2025 | 2026 |
|---|---|---|
| March | 390 | 499 |
| April | 398 | 474 |
| May | 375 | 428 |
| June | 395 | 443 |
| First six months | about 2,150 | about 2,450 |
That’s roughly a 14% increase for the first half of 2026. In July, prices still hadn’t caught up with buyer activity.
What changed since July. The trend continued. NABOR’s August 2026 report counted 4,093 active listings, down 16.3% from a year earlier. Supply fell from 8.1 months to 5.4. Year-to-date sales rose 16.2%, while the $575,000 median closed price was 1.7% lower than in August 2025. NABOR covers Collier County outside Marco Island. Joe breaks down more of the numbers in his market post.
This doesn’t mean every home will gain value or sell quickly. A dated condo facing major assessments will still sit. So will a house with an old roof and an unrealistic seller. Resales competing directly with builder incentives can struggle, too. Updated, well-priced homes in sought-after golf, boating, new construction or gated waterfront communities still move quickly.
If you want to know which factors affect the homes you’re considering in Naples, Bonita Springs or Cape Coral, send me the addresses and I’ll go through them with you. You can also browse homes or check our financing page.
