The effects of a growing real estate market

By Joey Lachman

ST. PETERSBURG—Last election season, Florida voters approved Amendment Five, which adds to the 50,000 dollar homestead exemption that certain Florida homeowners qualify for. The amendment allows homeowners to be taxed on less of their home's actual value.

Given the recent rises in the local real estate market many people have seen their property taxes go through the roof. According to Zillow and local property appraisers, certain properties have seen increases of over 40% in the last two years.

With amendment five, remember that properties only qualify for the exemption if the owner lives in them. Rental properties, whether long-term or short-term, do not qualify. Because of this, rent increases are happening all over the county

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Local renter Berenice Barboza says her rent was raised because the property owner couldn’t afford the tax increases.

“It was a surprise for us because it was unexpected. The rent increased a couple of hundred dollars for us and the landlord said it was because of the taxes,” Barboza said

Many in the community feel left out by this new amendment. According to U.S. census data nearly 40% of the Pinellas population rents. Those renters may feel like Amendment Five was not enough. Local renter Altair Escalona says that there must be more the local government can do to keep rents low.

“When it comes to something that is a need, there shouldn’t be a way for people to take advantage of that,” Escalona says. “Housing is a need and something the government should provide to all citizens rich or poor.”

It is important to remember that as community members we have tools to take action and enact changes we see fit. One of the best ways is to email your local representative or state senator. Tell them the ideas you have and the problems you face in your everyday life.

Send a screenshot of your message to jlachman@usf.edu and we will use those for our follow-up story. Attend a city council meeting, write to your representative, and get involved in local politics!