Florida homeowners have something to celebrate following the passage of Amendment 3 on November 3, 2026. With meaningful changes to property taxes on the horizon, I believe this could be a positive development for homeowners and the long-term appeal of real estate throughout St. Petersburg, St. Pete Beach, Pass-a-Grille, Tierra Verde, and surrounding Pinellas County communities.

Having grown up in Pass-a-Grille and spent more than 20 years helping people buy and sell homes in our area, I know that the cost of homeownership matters just as much as finding the right property.

What Is Florida Amendment 3?

Amendment 3 changes Florida’s property-tax structure, with several important provisions beginning January 1, 2027.

– **2027:** The homestead exemption for non-school property taxes increases to $150,000.
– **2028:** That exemption increases to $250,000.
– **2029 onward:** The exemption is adjusted for inflation.
– **Second homes and investment properties:** The annual cap on increases in non-homestead assessed values decreases from 10% to 5%.
– **New Florida residents:** Those who are not residents by December 31, 2026, generally must wait until their fifth year of homestead eligibility to receive the expanded exemption, subject to applicable law.

These changes could offer meaningful financial advantages for qualifying property owners, although actual savings will vary.

## Why This Could Benefit St. Petersburg Homeowners

For many families and longtime residents, rising ownership expenses have become an important consideration.

Reducing certain property taxes may help homeowners manage their expenses, maintain their properties, and remain in the neighborhoods they love.

In communities such as Pass-a-Grille, Gulfport, and St. Petersburg, where homes often stay in families for generations, that opportunity is particularly meaningful.

## A Potential Positive for Waterfront and Luxury Real Estate

Our beautiful coastal communities continue to attract buyers who value boating, beaches, exceptional homes, and the Florida lifestyle.

For buyers considering a primary residence in Tierra Verde, Pasadena Yacht & Country Club, or St. Pete Beach, the expanded homestead exemption could make the long-term cost of ownership more appealing.

While no tax change guarantees higher property values, lower recurring expenses may positively influence how buyers evaluate a home.

## What About Second Homes and Investment Properties?

One particularly interesting provision affects non-homestead properties, including many vacation homes and investment properties.

Reducing the annual cap on assessed-value increases from 10% to 5% may provide greater predictability for long-term property owners.

That does not mean property taxes cannot increase. Tax rates, reassessments, and other factors will still affect individual tax bills.

For owners of waterfront vacation homes or investment properties, however, greater predictability could be a welcome benefit.

## What Does This Mean for the Local Real Estate Market?

I believe Amendment 3 has the potential to strengthen the appeal of homeownership throughout Pinellas County.

It could help existing homeowners manage expenses while making certain properties more attractive to buyers evaluating long-term ownership costs.

There are also challenges to consider. Reduced property-tax revenue may affect local government budgets, public services, and infrastructure. Maintaining the quality of our communities will remain essential.

Ultimately, our real estate market will continue to be influenced by inventory, interest rates, insurance costs, property conditions, and buyer demand.

## Tammy’s Perspective

For me, real estate has always been about more than buying or selling a house. It’s about the communities we love and the lives we build here.

I grew up in Pass-a-Grille, and I’ve watched our area grow and change while maintaining the character that makes it so special.

I’m optimistic that Amendment 3 could provide meaningful relief for property owners and help support the long-term appeal of living along Florida’s Gulf Coast.

Whether you’re considering selling, purchasing a waterfront property, or simply curious about your home’s value, I’d love to help you understand your options.

**Tammy Plummer McNelis Luxury Team at Compass**

**727-455-2351**

## Frequently Asked Questions

**Did Florida Amendment 3 pass?**

Yes. Florida voters approved Amendment 3 on November 3, 2026, with approximately 62% support according to unofficial election results.

**When does Amendment 3 take effect?**

January 1, 2027. The expanded homestead exemption increases again in 2028.

**Will Amendment 3 lower my property taxes?**

Qualifying homeowners may receive savings on non-school property taxes. The amount depends on assessed value, eligibility, exemptions, and applicable tax rates.

**Does Amendment 3 help second-home owners?**

Potentially. Many non-homestead properties will benefit from a lower annual cap on increases in assessed value, although that does not guarantee lower tax bills.

**Will Amendment 3 increase St. Petersburg home values?**

It may improve the financial attractiveness of homeownership, but property appreciation is not guaranteed. Local market conditions will continue to determine prices.

## Official Sources

Florida Department of State — Amendment 3 official ballot language:

https://constitutionalinitiatives.dos.fl.gov/Home/InitDetail?account=10&seqnum=110

Florida Division of Elections — Amendment 3 election results:

https://floridaelectionwatch.gov/CompareStateToCounty/900003

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### Disclaimer

This article is provided for general informational purposes only and reflects the opinions of Tammy Plummer McNelis Luxury Team at Compass as of November 4, 2026. It is not legal, tax, financial, or investment advice. Election results referenced were unofficial at publication. The implementation and interpretation of Amendment 3 may change, and individual tax benefits depend on eligibility, property characteristics, applicable tax rates, and future government action. Any discussion of potential real estate market benefits is an opinion, not a guarantee of property appreciation, investment returns, or future market performance. Readers should consult qualified tax and legal professionals and the appropriate property appraiser regarding their individual circumstances. Compass and its affiliated real estate professionals do not guarantee tax savings or future market outcomes.