Randal Jenkins Team Blog

Category: Taxes, Insurance & Flood

Amendment 3 and Your Property Taxes: What It Actually Does

October 7th, 2026

On November 3, Florida voters will decide Amendment 3, a constitutional amendment that changes how homestead property is taxed. It needs at least 60% of the vote to pass.

I get asked about this a lot, so here is what it does in plain terms. I’m not going to tell you how to vote. That’s your decision. My job is to explain what is on the ballot and what it could mean for your property.

What changes for homesteaded homeowners

If Amendment 3 passes, the homestead exemption from non-school property taxes rises to $150,000 starting in 2027 and to $250,000 starting in 2028. After that, it adjusts for inflation.

School taxes are not affected. Non-school taxes are the county, city, and special district portions of your bill, such as a fire district.

What it could save you

Florida TaxWatch estimates homeowner savings in 2027 ranging from about $352 to $1,810, depending on where you live. Your actual number depends on your assessed value and your local tax rates, so a calculator is a better guide than an average.

If you’re moving to Florida

This part gets missed. People who are not Florida residents on December 31, 2026, get the current exemption when they first qualify. The higher exemption begins in their fifth year of eligibility.

If you’re relocating here and buying in the next couple of years, budget your taxes on today’s exemption, not the new one.

Rentals and commercial property

For non-homestead property, such as rentals and commercial buildings, the annual cap on assessment increases drops from 10% to 5%. Investors don’t get the homestead exemption, but their assessed values would rise more slowly.

The other side of the ledger

Property taxes pay for local services. State estimates put the reduction in local revenue at about $5 billion statewide in the first fiscal year, growing to roughly $11.9 billion a year once fully in effect. The amendment does not provide replacement revenue. It requires counties and cities to direct property tax dollars to listed core purposes, including public safety, schools, and infrastructure.

Closer to home, a Florida Policy Institute calculator flags Pasco’s fire district bond as one of the larger local funding impacts.

Supporters point to lower tax bills for homeowners. Opponents worry about how local governments fill the gap. Both are fair questions, and both are worth understanding before you vote.

What it means if you’re buying or selling

The tax figure on a listing reflects the current owner’s exemptions and assessment. It was never a reliable estimate of what a new buyer will pay, and if Amendment 3 passes, the gap between the listing number and your number could change again in 2027 and 2028.

Before you make an expensive decision, run the tax number for your situation, not the seller’s.

If you have questions about how this could affect a home you own or one you’re looking at, call me. Straight answers.

Randal Jenkins
Florida Real Estate Partners, Real Estate Broker
American Mortgage Services, NMLS #2053417
727-409-4663 (409-HOME)

Sources: Florida Chamber, Amendment 3 overview and revenue estimates; City of Port St. Lucie, What Florida Voters Should Know; ClickOrlando on the Florida TaxWatch estimates; Fox 13 on the Florida Policy Institute calculator. This post is general information, not tax or legal advice. Check your own numbers with the Pasco County Property Appraiser or a tax professional.
The Property Tax on the Listing Is Not Your Property Tax

October 6th, 2026
You find a house you like. You check the listing and the taxes are $1,500 a year. You run the numbers and the payment works.

Then the first tax bill shows up.

This happens all the time. On the Randal Jenkins Real Estate Hour a while back, Eric and I went through a list of real estate tips, and this one deserves its own post: the taxes on the listing are the seller’s taxes, not yours. When you buy, the property gets valued again, and your bill is based on the new number.

Why the number changes

The tax bill you see on a listing comes from the county’s last look at the property, usually years of value built up under the current owner. When you buy, the property appraiser can revalue it, and your purchase price is a big part of that.

Florida makes the gap bigger. If the seller has a homestead exemption, the Save Our Homes cap has kept their assessed value from rising more than 3% a year, or the inflation rate if that’s lower. If they’ve owned the home a long time, their assessed value may be far below what the house is worth today.

That cap doesn’t come with the house. After a sale, the assessment resets to market value as of the next January 1. The seller’s low tax bill goes with the seller.

What it looks like in real life

I had a buyer looking at a house with taxes of about $4,500 a year. We both knew it would go up, and he wanted to know how much. Some county property appraiser websites let you run a what-if: put in a sale price and see roughly what the new taxes would be.

He was buying at $400,000, on a house the county had valued around $225,000. The estimate came back at about $8,500 a year.

He said, “I can’t afford that.” And he walked.

I’ve lost deals over this, and I’d rather lose a deal than have a buyer find out after closing. If you go stand in the tax office for an hour, you’ll hear it over and over: “I just bought this house. Now you’re telling me I have to pay this in taxes?”

Lenders often don’t bring it up either. Back in 2008 and 2009, when values were falling, this didn’t hurt much. Now, with higher values and county budgets to fill, the numbers can be hard to believe.

How to protect yourself before you sign
- Ignore the tax figure on the listing. Treat it as history.
- Use the property appraiser’s estimator, if your county has one, and run your actual offer price.
- Ask your lender to qualify you on the estimated new taxes, not the seller’s. Your escrow and your monthly payment will be based on the new bill.
- Budget for the first year. If your escrow was set up on the old taxes, you may see a shortage and a higher payment when the new bill arrives.
- If you’re selling a Florida homestead and buying another one, ask the property appraiser about portability. You may be able to carry some of your Save Our Homes savings to the new home.
- Apply for your own homestead exemption on time if the home will be your primary residence.
None of this means you shouldn’t buy. It means you should know your real monthly cost before you’re under contract, not after you’ve moved in.

The seller’s tax bill tells you what the seller paid. It doesn’t tell you what you’ll pay.

If you’re looking at a home and want help estimating the real cost, call or text me at 727-409-4663. No pressure. Straight answers.

Randal Jenkins
Broker-Owner, Florida Real Estate Partners
Loan Officer, American Mortgage Services, NMLS #2053417
727-409-4663 (409-HOME)
The Four-Point Passed. The Insurance Company Still Said No.

October 6th, 2026

I recently had two transactions where the home passed its four-point inspection and the insurance company still wouldn’t bind a policy.

If you’re buying an older home in Florida, you need to understand how that happens, because it can stop a closing.

What a four-point inspection is

On older homes, most Florida insurers want a four-point inspection before they’ll write a policy. It looks at four systems: the roof, the electrical, the plumbing, and the air conditioning. The inspector reports the age and condition of each one.

Here’s the part buyers miss. The inspector reports. The insurance company decides.

What happened

On the first home, the insurer looked at the report and decided the roof needed to be replaced. On the second, it was the electrical panel, a GE panel about 42 years old. Both homes passed the inspection. The underwriter still said no.

A passed inspection is not an approved policy.

What to do about it

If you’re a buyer, get your insurance agent involved early in your inspection period, not the week before closing. Send them the four-point as soon as you have it and ask a direct question: will you bind this house as it sits, and if not, what has to change?

Ask the seller early for the age of the roof, the brand and age of the electrical panel, the type and age of the plumbing, and the age of the A/C. Those are the same four systems the insurance company is looking at.

Then talk with your agent about how your contract handles it. If the roof or panel has to be replaced, you need to know who pays for it and whether you still have time to negotiate or walk away.

If you’re a seller of an older home, find out before you list. A roof or panel problem you learn about from the buyer’s insurance agent costs you time and leverage. One you know about up front is just part of the pricing conversation.

Insurance has become one of the biggest moving parts in Florida real estate. Before you make an expensive decision, let’s look at the complete picture. Call or text me at 727-409-4663.

Randal Jenkins
Broker-Owner, Florida Real Estate Partners
Loan Officer, American Mortgage Services, NMLS #2053417
727-409-4663 (409-HOME)
Pinellas County Flood Map Service and Facebook Live Event Auto Draft

June 29th, 2023
Hello Pinellas County Mortgage Professionals,

Because you are listed as having an active license in Pinellas County, I am writing to let you know about the newly updated Pinellas County Flood Map Information Service! Visit floodmaps.pinellascounty.org for a library of flood map apps with data.

This service is FREE and easy to use via computer and mobile device! Here you can find valuable flood information including:
- FEMA Flood Insurance Rate Map (FIRM) information needed to write a flood insurance policy, such as flood zone and Base Flood Elevation (BFE)
- Pinellas County Floodplains and Floodways
- Elevation Certificates submitted to Pinellas County
- Flood depth information, such as potential storm surge depths
- Evacuation zones, routes, and shelters
- If the property is in a Coastal Barrier Resource System (CBRS)
- Information about areas, such as wetlands, that are protected because of their natural floodplain functions of storing and removing pollutants from floodwaters
- And more!
Pinellas County, and most of its municipalities, participate in the National Flood Insurance Program’s (NFIP) Community Rating System (CRS) program, which rewards communities that implement floodplain management activities with flood insurance premium discounts. Unincorporated Pinellas County is rated a Class 3 community, which provides businesses and residents living in the unincorporated areas a 35% premium reduction. This rating will save unincorporated residents and businesses almost $9.5 million in flood insurance premiums per year. CRS ratings and associated discounts vary for each municipality with countywide total savings of more than $28.9 million per year. This important rating determination is based, in part, on the County and its municipalities providing flood information services.

Facebook Live Preparedness Event for Your Clients:

We need your help! Pinellas County is hosting a Facebook live to tackle questions and confusion about storm season preparedness for our newest arrivals to the county. We’ll bring in our directors of Emergency Management and Animal Services, as well as one of our building safety officials, to help residents understand how to protect their families, their homes and themselves. What we need from you is to share this link and invite text with any new residents you are in touch with. More information at https://www.facebook.com/events/2940477229416464.

For more information on flood map services, contact Pinellas County at 727-464-7700, visit pinellas.gov/flooding, or visit us at 440 Court Street, Clearwater, FL 33756. If you live in one of the Pinellas County municipalities, please contact your city directly for additional flood map information or elevation certificates (pinellas.gov/municipalities-and-cities/).

Lisa Foster, CFM
Floodplain Administrator
Stormwater Planning & Engineering
Stormwater & Vegetation Division
Public Works Department
14 S. Ft. Harrison, #426
Clearwater, FL 33756
ldfoster@pinellascounty.org
Phone (727) 464-8962

Lisa Foster, CFM

Floodplain Administrator

Phone (727) 464-8962

www.pinellascounty.org/flooding

Please click here to tell us how we are doing!

Please do not reply to this email. Please email ldfoster@pinellascounty.org if you have any questions.

Randal Jenkins <rj409home@gmail.com> 8:28 AM (12 minutes ago)
to ldfoster

May I have permission to post this on my Realtor site?
Randy

Foster, Lisa D <ldfoster@pinellas.gov> 8:39 AM (1 minute ago)
to me

Absolutely!

Lisa Foster, CFM

Floodplain Administrator

Phone (727) 464-8962

www.pinellascounty.org/flooding

Please click here to tell us how we are doing!
Flood Zone Communities Doomed

June 19th, 2023

In Pasco County, where I was once known as Mr. Pasco, we have over a dozen communities that are in big trouble, and the residents don’t know.

Holiday Lake Estates, Key Vista, Beacon Square, Green Key Estates, are some of the neighborhoods New Port Richey and South. I will discuss the northern neighborhoods in another post.

Many of these homes are owned by working class homeowners, many are retirees on a fixed income. If they have a mortgage, they have flood insurance. As you know if you have been reading my blog, flood insurance is going to be a curse on Florida real estate.

Regular hazard insurance and flood insurance rates are soaring. One home I manage went from $1800 a year to over $4100 a year. A $740 a month payment went up to over $1100 a month. (It also had a substantial tax increase).

Owners on a fixed income or wage earners on the lower income scale are going to find their payments unmanageable. Especially if their flood insurance goes from $200-$300 to $500-$700 a month or more.

Interestingly, Citizens Insurance, over the next 12 months is going to require all homeowners that buy hazard insurance to by flood insurance, even if the home is not in a flood zone. This will have an effect of delaying the tipping point for an insurance based real estate correction.

As flood insurance and hazard insurance costs rise, homeowners without the resources to cover the increased costs are going to be forced to sell.

When the number of homeowners reach the point where they can no longer afford the increases, we will see 100’s and then 1000’s of sellers. Who will buy all this real estate?
Now the market is tight. There are around 1880 residential properties today, June 19, 2023. 1305 are not in a flood zone.

I predict that homeowners in flood zones will look back on this time and wish they had the foresight to sell.

Randy 727-409-4663 (409-home).

Randal Jenkins

Loan Officer, American Mortgage Services, NMLS #2053417

Florida Real Estate Partners

4823 Ebbtide Lane 206

Port Richey Fl 34668