Quick Answer
A Southwest Florida mortgage payment is more than principal and interest. Add property taxes (about 16 mills in Lee County and 11 mills in Collier on average), homeowners insurance, flood insurance in many areas, and HOA or CDD fees. Many lenders want your total monthly debts, including that full payment, to stay around 36% of your gross income. Starting in 2027, Florida's Amendment 3 lowers property taxes on a primary residence by raising the homestead exemption on non-school taxes to $150,000, then $250,000 in 2028.
How does Amendment 3 change my monthly payment?
Florida voters approved Amendment 3 on November 3, 2026. For a home you live in as your primary residence, the homestead exemption on non-school property taxes rises from about $51,411 today to $150,000 on January 1, 2027 and $250,000 on January 1, 2028, with inflation adjustments after that. Non-school taxes (county, city, fire and other districts) are more than half of a typical Southwest Florida bill, and about two-thirds in Lee County, so the savings can be real. On a $550,000 Lee County home at the county-average rate, that's about $1,000 a year in 2027 and about $2,100 a year starting in 2028. Toggle the year above to see your own numbers.
Three things to know before you count on it. School taxes don't change, so your bill doesn't drop to zero. Second homes, rentals and investment properties don't get the larger exemption (their yearly assessment cap drops from 10% to 5% instead). And if you become a Florida resident on or after January 1, 2027, you start with the current exemption and receive the larger one in your fifth year. Read our full breakdown of what Amendment 3 means for Southwest Florida homeowners.
Why shouldn't I use the seller's tax bill?
Because it probably isn't your tax bill. In Florida, a home's assessed value generally resets to market value after a sale. A long-time owner's bill may reflect years of Save Our Homes caps and exemptions that don't transfer to you. We see buyers budget from the seller's bill and get surprised by a much larger first bill. This calculator estimates from the purchase price instead. Learn how to read the TRIM notice you'll get each August.
Why is insurance such a big part of the payment here?
Homeowners insurance in coastal Florida costs more than in most of the country, and flood insurance is required by lenders in high-risk flood zones (and increasingly by Citizens). Two similar homes can have very different premiums because of roof age, construction, wind mitigation features and elevation. That's why we leave insurance as something you enter rather than guess. See our guides to homeowners insurance and wind mitigation inspections, and check any address with our Flood Zone Lookup.
What's the difference between HOA dues and a CDD fee?
HOA or condo dues pay your community association for things like landscaping, amenities and reserves. A CDD (Community Development District) is a special taxing district that financed the community's roads, utilities and amenities, and its fee shows up on your property tax bill. Many newer communities in Estero, Fort Myers and Naples have both. Compare total monthly cost, not list price alone. Our guide to CDD fees explains more.
Where does the right agent make a difference?
A calculator gives you a number. Knowing which homes will actually hit that number takes local knowledge. Taxes, insurance, association fees and special assessments can make a lower-priced home cost more each month than a higher-priced one down the street. Since 2005, Mark and Dawn have helped buyers across Lee and Collier County find those differences before they write an offer, not after closing. When you're ready, we'll help you compare real homes on their true monthly cost. Start on our Buy With Us page.