Belleair traces its origins to 1896 as a planned resort town with the construction of the Belleview Hotel by railroad tycoon Henry B.

Originally known as Belleair Heights, the village consisted of a few dozen homes, livestock stables, and a famed 200-seat coliseum where bicycle races and political rallies were held.

Following the acquisition of the hotel by the John McEntee Bowman's Biltmore corporation in 1919, management began purchasing large tracts of land south of the resort.

Belleair Estates was designed by famed landscape architect John Nolen and was intended as Florida's most exclusive winter residential colony.

Development continued until the real estate bubble burst in 1926, which subsequently aided in the national Great Depression three years later.

Following World War II, Belleair began to develop in earnest, with over two-thirds of the town's residences built after 1950.

The Eagles Nest Japanese Gardens was a tourist attraction in the town located on the private estate of Dean Alvord.

The current mayor and commissioners in 2023 are: As of the 2020 United States census, there were 4,273 people, 1,779 households, and 1,230 families residing in the town.