Florida is about to vote on the most significant residential property tax change in the state's history. If you're buying, selling, or investing in St. Petersburg right now, you need to understand what's coming because it affects your total cost of ownership, your pricing strategy, and how buyers in your price range are calculating affordability.
What HJR 1F Actually Does
The amendment, officially titled Save Our Homes from Excessive Property Taxes, passed Florida's legislature in June 2026 with strong bipartisan support (75-26 in the House, 30-9 in the Senate). It goes to voters on November 3, 2026, and needs 60% approval to pass.
The core change: Florida's non-school homestead exemption would jump dramatically.
| Year | Non-School Homestead Exemption | Est. Annual Savings (Pinellas Co.) |
|---|---|---|
| 2026 (current) | ~$51,411 total exemption | n/a |
| 2027 (if passed) | $150,000 | ~$1,203/year |
| 2028+ | $250,000 (CPI-adjusted annually) | ~$2,423/year |
School taxes (~40% of the bill) remain unchanged under HJR 1F.
If You're Buying in St. Petersburg Right Now
Buyers who close before January 1, 2027 and establish Florida homestead qualify immediately for the full $150,000/$250,000 exemption. New Florida residents who establish homestead after December 31, 2026 start at the old $50,000 exemption and phase in over four years.
That timing difference represents up to $9,600 in cumulative tax savings over those four years.
Before you fall in love with a property, run the numbers on what your tax bill looks like both before and after the amendment passes. I walk every buyer I work with through this calculation because it's real money that changes your actual monthly carrying cost.
Amanda LeGault - LeGault Luxe Group
If You're Selling in St. Petersburg Right Now
Tax reform is a legitimate selling point but how you position it matters. Emphasize your home's assessed value vs. market value gap, existing homestead status, and Save Our Homes cap. Don't promise specific dollar savings. In tight-inventory neighborhoods like Crescent Lake, Kenwood, Roser Park, and Beach Drive waterfront condos, tax reform is secondary to comp strength.
If You Own Investment Property in Pinellas County
HJR 1F also drops the non-homestead assessment cap from 10% to 5%, slowing how fast taxable value can grow on investment and rental properties. The expanded homestead exemption does not apply to non-homestead property.
Should You Wait?
- Existing Florida resident buying a primary home: No benefit to waiting - close when you find the right home.
- New-to-Florida buyer: A pre-year-end closing captures 4 extra years of higher exemptions.
- Seller: Waiting risks losing deal momentum without meaningful upside.
Frequently Asked Questions
Does HJR 1F affect school property taxes in Florida?
No. School taxes (approximately 40% of the total bill) are completely unaffected and continue to be calculated on full market value.
What happens if the amendment doesn't pass in November?
Nothing changes. All existing exemptions and caps remain in place under current Florida law.
Does the $250,000 exemption mean zero property taxes?
Not necessarily. School millage and special assessments still apply to full market value.
If I'm moving to Florida after January 1, 2027, am I penalized?
You start at the old $50,000 exemption and phase into the full expanded exemption after four years of continuous Florida homestead.
What's the difference between Save Our Homes and this amendment?
Save Our Homes caps how fast your assessed value can grow (3%/year). HJR 1F expands the exemption applied to that assessed value for non-school taxes. They work together.