Market Brief
St. Petersburg voters approved a $600 million storm resilience bond with 74% support on November 3, 2026, a property tax estimated at up to about $96 a year per $100,000 of taxable value at the high end.
St. Pete's $600M water and flood bond passed 74% to 26%. What it funds, what it may add to tax bills, and recent home prices by ZIP.
St. Petersburg voters on November 3, 2026 approved a general obligation bond that lets the city borrow up to $600 million for stormwater, wastewater and drinking water work. The measure passed with 74% support, 74,234 votes to 26,126, in unofficial Pinellas County results reported by Tampa Bay Beacons. Repayment comes from property taxes, estimated at up to about $96 a year per $100,000 of taxable value at the high end, according to Tampa Bay Beacons. Single-family homes in Pinellas County sold at a median $455,000 in October 2026, according to our Central Florida Market Pulse.
This piece covers what the bond pays for, how the tax is expected to phase in, and what it could mean for a typical owner's bill. Monthly price, pace and sales figures for Pinellas County are on the St. Petersburg market data hub.
What does the St. Petersburg bond pay for?
The ballot question authorized bonds "not exceeding $600,000,000" for storm resilience improvements, according to the City of St. Petersburg. The city lists these categories:
| Category | Examples named by the city and press |
|---|---|
| Floodwater protection | Added capacity in canals, creeks and ditches; interconnected ponds |
| Stormwater pump stations | New pump stations and drainage infrastructure |
| Wastewater | Collection and treatment facilities, including hardening against Category 5 winds |
| Drinking water | Distribution and supply facilities, pipe replacement |
Sources: City of St. Petersburg, July 24, 2026; Tampa Bay Beacons, August 4, 2026.
The money goes to the city's St. Pete Agile Resilience (SPAR) priority list, which totals about $2.7 billion, according to WUSF. Those projects have been paid for through utility rates. At current utility billing rates the full list would take 24 years; with the bond, the estimate drops to 19 years.
How much will the bond add to property tax bills?
The city did not publish a fixed millage rate for the bond. The high-end estimate is about $96 per $100,000 of taxable value a year, and initial payments are likely to be lower because the city plans to borrow in stages. The city expects to issue several series of bonds from 2027 to 2030, each maturing within 30 years.
On the high-end estimate, the annual cost scales with taxable value (our arithmetic, not a city figure):
| Taxable value | High-end annual bond cost |
|---|---|
| $150,000 | About $144 |
| $250,000 | About $240 |
| $350,000 | About $336 |
| $500,000 | About $480 |
Taxable value is the assessed value minus exemptions, so it is often well below a recent sale price for a long-held homestead. A buyer's first bill resets to a new assessment, which is why recent buyers tend to carry larger tax bills than long-time owners. Our Florida first-year property tax piece explains that gap.
Did other St. Petersburg measures pass?
Florida Politics reported that voters approved all five city ballot measures. One was a charter amendment to remove nine city-owned vacant lots in Methodist Town, just west of downtown, from the city's park and waterfront map. The lots could support up to 41 affordable or workforce homes, four single-family lots and five multifamily parcels, according to the St Pete Catalyst. The change does not rezone the lots or authorize construction; those steps need separate public processes.
Separately, the St. Petersburg Housing Authority expects to finish the Edward White Campus, with 71 affordable apartments for households at or below 80% of area median income, in the second quarter of 2027, according to Tampa Bay Beacons.
How do St. Petersburg home prices compare?
Our October Market Pulse lists single-family closings from August through October 2026 by ZIP code:
| ZIP | Closings, Aug to Oct 2026 | Median sale price | Median days on market |
|---|---|---|---|
| 33703 | 130 | $447,500 | 30.5 |
| 33710 | 108 | $426,950 | 21 |
| 33713 | 108 | $420,000 | 22.5 |
| 33702 | 67 | $399,900 | 45 |
| 33704 | 59 | $835,000 | 64 |
| 33705 | 56 | $384,500 | 40.5 |
| 33711 | 45 | $330,000 | 57 |
| 33709 | 42 | $340,000 | 19 |
| Pinellas County, October only | 705 | $455,000 | 32 |
Source: Momentum Market Pulse, Central Florida, October 2026 edition, computed by Momentum from Stellar MLS records (single-family; ZIPs with at least 15 closings; county row is October 2026 alone). Deemed reliable but not guaranteed.
Pinellas house prices in October were 0.3% above a year earlier and 2.4% above the 2022 peak month. Our Pinellas flood zone listings piece covers how much of the county's inventory sits in mapped flood zones, and our Pinellas ZIP code days-on-market piece ranks sale pace by ZIP.
What should St. Petersburg buyers and owners watch next?
The next public signals are the size and timing of the first bond series in 2027 and the debt service millage the city sets in its budget each year. Buyers comparing homes inside city limits with homes elsewhere in Pinellas should check the city's total millage on each property's tax estimate. The St. Petersburg market page carries current local prices.
People also ask
Did the St. Petersburg $600 million bond pass? Yes. Voters approved it on November 3, 2026 with 74% support, 74,234 votes to 26,126, in unofficial Pinellas County results.
How much will the St. Petersburg bond cost homeowners? The high-end estimate is about $96 a year per $100,000 of taxable value. Early payments are expected to be lower because the city plans to issue bonds in stages from 2027 to 2030.
What will the St. Petersburg bond pay for? Stormwater drainage and flood reduction, stormwater pump stations, wastewater collection and treatment, and drinking water treatment and delivery, drawn from a $2.7 billion priority list.
What is the median home price in Pinellas County? Single-family homes in Pinellas County sold at a median $455,000 in October 2026 across 705 closings, with a median 32 days on market, according to our October Market Pulse.
Limitations
Vote totals are unofficial results as reported on November 13, 2026. The tax cost is a pre-election, high-end estimate reported by the press; the actual millage depends on how much the city borrows each year and on citywide taxable value. The cost table is our arithmetic on that estimate. ZIP figures are single-family closings from August through October 2026 and are not limited to city limits. ZIP and county figures are computed from MLS records by Momentum and are deemed reliable but not guaranteed.
Sources
- Around town: South Pinellas news briefs, Tampa Bay Beacons, November 13, 2026.
- St. Petersburg voters to decide on new tax to hasten flooding, sewage fixes, Tampa Bay Beacons, August 4, 2026.
- St. Pete City Council approves general obligation bond language, City of St. Petersburg, July 24, 2026.
- St. Petersburg voters will be asked to authorize bonds, WUSF, October 1, 2026.
- St. Petersburg voters approve all five ballot measures, Florida Politics, November 2026.
- St. Pete advances housing plan for vacant city lots, St Pete Catalyst, July 9, 2026.
- Momentum Market Pulse, Central Florida, October 2026 edition, Momentum Research report built from Stellar MLS records, generated November 13, 2026.
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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