A Largo home listed at $729,900 showed annual property taxes of $3,276. Pinellas County Property Appraiser Mike Twitty estimated that a buyer would owe about $11,231. He used that example in a Tampa Bay Times column reposted by his office in March 2026. He gave a Dunedin example too. A townhouse listed at $699,900 showed $2,904 in seller taxes against an estimated $10,471 for a buyer. Twitty wrote that the gap between what a seller pays and what a buyer will pay "often ranges from $2,000 to $6,000." He added that it comes from years of Save Our Homes benefits that the seller built up and the buyer doesn't inherit.
Florida voters decide Amendment 3 on November 3, 2026. Most coverage treats it as a bigger homestead exemption. For someone planning a Pinellas purchase, two other details matter more. First, the amendment sorts homesteaders by the date they became Florida residents. Second, it leaves untouched the parts of the bill that produce the Largo-style surprise. This post explains how it would work. It takes no position on how anyone should vote.
The Line Is December 31, 2026
The official ballot summary would raise the homestead exemption on non-school taxes to $150,000 in 2027 and $250,000 in 2028, then adjust it for inflation after that. It needs at least 60% of the vote to pass. If it passes, it takes effect January 1, 2027. The change would first show up on the August 2027 TRIM notices and the tax bills mailed in November 2027.
Who gets the larger amount depends on residency. The Property Appraiser's Amendment 3 FAQ says people who are permanent Florida residents as of December 31, 2026 qualify for the larger amounts beginning in 2027. That holds even if they haven't bought yet. A Florida resident who buys a home and applies for homestead later still qualifies.
People who become Florida residents on or after January 1, 2027 start with a $50,000 exemption on non-school taxes, adjusted for inflation beginning in 2028. After four years of holding a Florida homestead exemption, they move to the larger amount starting January 1 of the fifth year. The FAQ answers the obvious question with a flat "No." Someone who moves to Florida in 2027 can't claim the $150,000 or $250,000 exemption right away.
The upshot is that two buyers closing on the same street in the same month in 2027 could have different exemptions. The deciding factor is when each became a Florida resident, not when each bought. For out-of-state buyers, relocating military families, and anyone timing a move around a job, that date now matters.
| Buyer profile | Non-school homestead exemption if Amendment 3 passes |
|---|---|
| Permanent Florida resident by December 31, 2026, buying in 2027 or later | Up to $150,000 in 2027 and up to $250,000 in 2028, indexed to inflation after that |
| Becomes a Florida resident on or after January 1, 2027 | $50,000, indexed to inflation from 2028; the larger exemption starts January 1 of the fifth year after four years of homestead |
| Second home, rental, or other non-homestead owner | No homestead exemption; the annual cap on non-school assessment increases drops from 10% to 5% |
The Property Appraiser adds that implementing legislation may set more administrative procedures. How residency gets documented under the amendment is still an open detail.
What the Amendment Leaves in Place
The Largo and Dunedin gaps come from Save Our Homes. That cap limits how much a homestead's assessed value can rise each year to 3% or the inflation rate, whichever is lower. Amendment 3 leaves the cap exactly as it is, and it doesn't change portability either. A seller who has owned for a long time still has a low assessed value. A new buyer still starts near market value.
School taxes don't change either. Under the amendment, only the first $25,000 of a homestead's assessed value would remain exempt from school taxes, the same as current law. The Property Appraiser expects most owners would still get a bill that includes school taxes.
The exemption does change one thing in a recent buyer's favor. The Property Appraiser's FAQ notes that recent buyers "often have taxable values closer to market value." That means they "may be more likely to receive the full benefit of the proposed exemption." Long-time owners, whose assessed values sit lower, may see their non-school taxable value shrink a great deal or disappear.
To show the scale, the FAQ uses the 2025 countywide average non-school millage rate of 12.2011 mills. The current 2026 homestead exemption totals $51,411. Applying the larger exemption at that rate:
- 2027: $98,589 in added exemption, about $1,203 in estimated savings
- 2028: $198,589 in added exemption, about $2,423 in estimated savings
Those figures assume the full exemption, no change in millage rates, and no non-ad valorem assessments. Actual rates differ by city, fire district, and MSTU. Compare them with the $7,955 gap in the Largo example. Even the 2028 figure covers only part of the distance between the seller's bill and the buyer's estimate.
Second Homes and Rentals Get a Slower Cap
Short-term rental investors and second-home buyers don't receive a homestead exemption under any version of this. What Amendment 3 changes for them is the annual cap on non-homestead assessment increases, which would drop from 10% to 5%.
The Property Appraiser lists two limits on that change. The cap applies only to assessed value for non-school taxes, and school taxes stay uncapped at just/market value. It also caps assessed value, not the tax itself. The FAQ also says the exemption and cap changes "affect taxable value, not tax rates." For an investor modeling a Clearwater Beach condo or a Tarpon Springs rental, that means slower growth in one portion of the bill. The tax rate that applies to that value is still up to local governments.
Where the Lost Revenue Would Show Up
On July 10, 2026, the state Revenue Estimating Conference put the recurring annual impact on Pinellas taxing authorities at $561.4 million. That covers all local taxing authorities in the county, not just county government. Cities across the county have since published contingency plans. Every item below is an option under study, not an adopted decision.
- St. Petersburg estimates property-tax revenue would drop by about $33 million in FY28 and $54 million in FY29. It lists police response, fire staffing, EMS, libraries, parks, and road maintenance among the services that could be affected.
- Clearwater's August 6 contingency memo estimates decreases of $12.38 million in FY28 and $7.87 million in FY29. Its FY28 options include closing the Beach Library branch and reducing recreation center hours. Its FY29 options include closing the Clearwater Beach Recreation Center and canceling planned Stevenson Creek site improvements.
- Dunedin's September 21 release estimates a $4.7 million loss in FY28 and $7.6 million in FY29 and later. Its possible measures include closing Highlander Pool, raising Community Center and youth program fees, and reducing the number of firefighters per shift.
- Largo estimates a $15.7 million annual reduction once fully phased in. Its October 6 materials list options that include cutting library hours from 56 to 28 a week and possibly closing Central Park Performing Arts Center, the Largo Community Center, and McGough Nature Park, among others.
- Tarpon Springs's property tax dashboard projects a $3.3 million reduction in FY28 and more than $5.5 million a year after that. The city's September 25 project status sheet says local Anclote River and bayou dredging "could be deprioritized pending property tax referendum results."
Some park news isn't connected to the amendment. Pinellas County's August proposals to remove lifeguards at Fort De Soto and Sand Key were tied to a separate $42 million shortfall. The county parks director said they were unrelated to Amendment 3, WUSF reported.
Fees Work Outside the Exemption
Safety Harbor shows a second way cities may respond. Mayor Joe Ayoub told Bay News 9 that the city estimates it could lose about $3 million in property tax revenue. A fire assessment fee is one option under consideration. "We don't know if it could replace 100% of the revenue loss from Amendment 3, or a certain percentage of it," Ayoub said. He added that the city is hiring a consultant to study it.
This connects back to the residency sort. The homestead exemption lowers taxable value, and taxable value is all it lowers. The Property Appraiser lists non-ad valorem assessments and fees separately from the exemption's effect on a bill. A fee that a city adopts to replace lost revenue would land on a homesteader who arrived in 2025 and one who arrives in 2027 alike, whatever exemption each one holds. A buyer comparing Safety Harbor, Dunedin, and Largo would need to compare more than millage rates. The fee decisions each city makes in 2027 would matter too.
FAQ
Does Amendment 3 eliminate homestead property taxes?
No. The Property Appraiser says a full exemption would require future legislation and local action under a process the amendment sets up. The Legislature would decide the timing and amounts by general law. School taxes stay outside the larger exemption either way.
Can the Property Appraiser estimate my savings today?
Not exactly. The office says actual savings can't be calculated until implementing legislation is final and future tax rates are set. If the amendment passes, it plans to update its tax estimator to cover both residency scenarios.
Do senior, veteran, or widow exemptions change?
The amendment doesn't change existing personal exemptions.
If you're planning a Pinellas purchase across the 2026–2027 line, the tax estimate on any home you consider depends on three things: your residency date, the seller's Save Our Homes history, and the fee decisions of the city you choose. Kirsten Kelley works through those numbers property by property and city by city, using the Property Appraiser's estimator instead of the seller's current bill. To go through the details before you write an offer, schedule a consultation.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.
