Canadians in the Sunshine State are about to have bigger problems than a weak loonie.
Driving the news: Floridians will soon vote on a ballot measure that would reduce or eliminate the property taxes paid by locals, while forcing Canadian snowbirds and other non-permanent residents to pay more.
The amendment wouldn’t extend any tax relief to non-residents and allows the state to hike the assessed value of their properties by 5% a year, steadily increasing the taxes they’ll have to pay.
Speaking about the tax measure, Governor Ron DeSantis said, "I want Canadian tourists and Brazilian tourists subsidizing the state and making it so Florida residents pay less taxes. I don't want to give Canadians a tax cut."
Why it matters: Canadians own more property in Florida than any other foreign buyers in the world, accounting for nearly a fifth of all international home purchases. With political tensions already at a boiling point, higher property taxes could accelerate the exodus of snowbirds from Florida.
A Royal LePage survey last year found that over half of Canadians who owned property in the U.S. were considering selling within the next year, with 62% citing the Trump administration as the main reason.
Zoom out: Florida is also the number-one U.S. destination for Canadian tourists, but since Trump was re-elected, there have been a lot fewer family trips to Disney World. In the first half of the year, the state saw 270,000 fewer visitors from Canada compared to 2025, a 14% decline.
Yes, but: The surge in Canadians looking to sell their homes has hurt the state’s real estate market, particularly in South Florida. And with fewer snowbirds looking to buy, it’s become a lot more difficult for homeowners to cash out.—LA
