St. Petersburg voters approve up to $600 million water bond

St. Petersburg voters approved a bond measure on Nov. 3, 2026, authorizing the city to borrow up to $600 million for stormwater, wastewater and drinking-water improvements.

The referendum authorizes borrowing; it does not mean the bonds have been issued or that every eligible project has been finalized. The city says it will move into project planning and delivery. The authorization allows one or more bond issues, each with a maturity of no more than 30 years from its issue date.

How the estimated tax impact is calculated i

The city estimates a property-tax impact of 0.96 mills, or about $96 a year for each $100,000 of taxable value. At that estimate, $250,000 in taxable value corresponds to about $240 annually if the full levy is applied. That is an illustration, not a fixed bill: taxable value is not the same as market value.

Property owners would pay the levy directly if it is imposed. The city says renters would not be billed directly, though property owners could pass costs along. The city has not specified the first tax year in which the levy would appear.

Eligible work and financing plans i

Eligible projects include stormwater drainage, pump stations and floodwater protection; wastewater collection, treatment and rehabilitation; and drinking-water distribution, supply and reliability improvements. The city describes project maps as illustrative and subject to refinement based on feasibility and priorities.

The city says projects will be included in its Capital Improvement Program, subject to City Council oversight and annual budget review. It also plans public reporting and yearly public meetings.

The city estimates a 4.50% interest rate over 30 years and expects to issue bonds in multiple series from 2027 to 2030. Those are estimates and plans, not final financing terms. The city describes bond financing as a faster way to fund improvements than relying on utility-rate increases over time; it says the relative 30-year cost could vary with property value and growth in taxable values.

The Pinellas County election page and Nov. 6 local coverage described the results as unofficial at the time. The city release and county-linked results differed on the number of no votes.