DeSantis's Property Tax Plan: What South FL Homeowners Need to Know

On May 27, 2026, Governor Ron DeSantis announced a special legislative session — convening this week — to push through what he's calling the "Save Our Homes from Excessive Property Taxes" plan. As a broker working with South Florida homeowners every day, my phone hasn't stopped ringing since the announcement. Buyers want to know if they should wait. Sellers want to know if their list price is still right. Here's what we actually know so far.

What's in the Proposal

The headline numbers from the Governor's office:

• Phase 1 (immediate): Raise the homestead exemption to $250,000 — which would eliminate property tax for roughly 60% of Florida homesteaders.
• Phase 2 (longer-term): A path to raise the exemption to $500,000, making about 92% of homesteaded homes property-tax-free.
• Local government cap: Cities and counties would be prevented from raising property taxes on non-homestead property (think small businesses and rentals) by more than 5% per year.
• Voter approval: The constitutional amendment goes on the November 2026 ballot and needs 60% approval to take effect.

This is not law yet. It's a proposal heading into a special session. But the political momentum is real, and in South Florida — where a median Hollywood single-family home is comfortably above the current $50,000 homestead exemption — the math would change dramatically.

What This Could Mean for South Florida Homeowners

At Sell It Realty, we work primarily in Hollywood, Hallandale Beach, Aventura, Cooper City, and across Broward and Miami-Dade. In these neighborhoods, even a modest 3/2 single-family home is often assessed well over $250,000. If the first phase passes:

Likely Winners

• Long-time homeowners with low-assessed but high-market-value homes — the Save Our Homes cap already protects you, and the new exemption stacks on top.
• Move-up buyers — your effective monthly housing cost would drop, freeing up purchasing power.
• Retirees on fixed incomes — property tax is often the second-biggest bill after insurance. Cutting it changes affordability math fast.

Where It Gets Complicated

• Cities like Hollywood, Fort Lauderdale, and Miami rely heavily on property tax for police, fire, parks, and schools. Local officials have already warned of major budget shortfalls — for example, St. Petersburg projects a roughly $75 million hit in 2028 if the plan passes. Expect that conversation to get loud over the summer.
• Renters and investors — homestead-only relief doesn't touch your unit. Investor-owned condos and single-family rentals would not see the exemption, and the 5% cap on non-homestead increases is meaningful but not a tax cut.
• Snowbirds and second-home buyers — if Florida isn't your primary residence, you're not homesteaded, so this doesn't apply to you.

Should Buyers Wait?

This is the question I'm getting most. My honest take: don't pause your search because of this.

Here's why. Even if the special session passes the amendment this summer, voters don't decide until November. If it passes in November, implementation isn't immediate. Meanwhile:

• South Florida single-family sales are up 8.6% year-over-year through April 2026 — eighth straight month of annual gains in Miami-Dade.
• Inventory dropped to 4.8 months of supply across the tri-county area, down from 5.9 last year. That's tightening, not loosening.
• Hurricane season starts June 1, and historically the late-summer market gets thinner on listings.

In other words: prices are firm, inventory is tightening, and you'd be timing the market against a political vote that may or may not pass. If you find a home that works for your family and your numbers, the right answer is usually still "buy it." Get a home valuation on what you're selling, run the mortgage calculator on what you're buying, and make a decision on fundamentals — not a ballot question.

Should Sellers Adjust Pricing?

No. Buyer purchasing power is what's already in the market today, not what might exist a year from now. If anything, a future tax cut is bullish for home prices — lower carrying costs make higher purchase prices feel reasonable. Selling now into a tightening single-family market with strong demand is a reasonable strategy.

That said, this is also why pricing strategy matters more than ever. Sellers across South Florida are increasingly using price reductions and concessions to attract offers — even in a relatively tight market. Get a professional home valuation before you list.

What I'm Watching Next

• The special session vote — does the legislature actually pass the joint resolution this summer?
• Local government responses — Hollywood, Miami, and Fort Lauderdale budget proposals for fiscal 2027 will tell us how seriously cities are taking the threat.
• Insurance + tax combined — Citizens is already cutting rates 14.1% in Broward and 13.9% in Miami-Dade for 2026. If property taxes drop too, the carrying cost story for South Florida changes meaningfully.

Call Adi

I've been brokering in South Florida for over 20 years, and I've seen tax policy debates come and go. The market moves on fundamentals — supply, demand, and what payments people can afford. If you're trying to figure out whether to buy, sell, or hold in Hollywood, Aventura, Hallandale, Cooper City, or anywhere else in South Florida, call me directly: 305-409-1305. We'll talk through your specific numbers, not ballot-box speculation. You can also browse current listings or get in touch through the contact page.

This article is for informational purposes and is not legal, tax, or financial advice. Consult a licensed CPA or tax attorney about your individual situation.