South Florida homeowner costs are moving in two directions at once in 2026. Citizens Property Insurance rates are falling now, with tri-county homeowners seeing cuts of roughly 11 to 13 percent at renewal. A separate property tax change is not law yet; it is a constitutional amendment on the November 3, 2026 ballot that needs 60 percent voter approval.
By Darek Homel, Broker-Owner, Landmark Signature Realty LLC | CIPS, CLHMS Guild, CNC, SRS, ABR, SFR Published June 15, 2026 · 7 min read
Contents
- What is changing on South Florida insurance in 2026?
- How much will Citizens insurance drop in Palm Beach, Broward, and Miami-Dade?
- What is the Florida property tax amendment on the November 2026 ballot?
- How would the homestead exemption change if the amendment passes?
- Is there a catch for people moving to Florida?
- What does this mean for South Florida homeowners thinking about selling?
What is changing on South Florida insurance in 2026?
Citizens Property Insurance rates are dropping for the first time since 2015. The statewide average reduction is 8.7 percent, approved by the Florida Office of Insurance Regulation, and it takes effect at each policy's renewal beginning June 1, 2026. South Florida homeowners see larger cuts than the statewide average.
The tri-county picture is the part that matters locally. Most Citizens policyholders in Palm Beach, Broward, and Miami-Dade are projected to see reductions above 11 percent, with average dollar savings between roughly $420 and $460 per policy.
How much will Citizens insurance drop in Palm Beach, Broward, and Miami-Dade?
The cut is bigger in South Florida than in most of the state. Broward homeowners see the largest reductions, followed closely by Miami-Dade and Palm Beach.
| County | Share of policyholders seeing a cut | Average rate reduction | Average dollar savings |
|---|---|---|---|
| Broward | 72.1% | 12.6% | ~$462 |
| Miami-Dade | 76.9% | 13.0% | ~$433 |
| Palm Beach | 76.9% | 11.7% | ~$423 |
| Florida statewide average | Most of 330,000+ policyholders | 8.7% | Varies by policy |
Source: Citizens Property Insurance / Florida Office of Insurance Regulation, 2026 approved rates, effective at renewal from June 1, 2026. County figures based on Citizens board projections.
These are renewal-based changes, so a homeowner sees the new rate when their individual policy renews, not all at once on June 1. Private carriers are cutting too: State Farm filed for an average 10.1 percent reduction, and AAA made reductions totaling about 15 percent over the year.
What is the Florida property tax amendment on the November 2026 ballot?
It is a proposed constitutional amendment, not a current law. On June 2, 2026, the Florida Legislature passed HJR 1F, titled "Save Our Homes from Excessive Property Taxes," and placed it on the November 3, 2026 general election ballot.
The amendment changes nothing on its own. It must be approved by at least 60 percent of Florida voters in November before any part of it takes effect. As of today, Florida property taxes are unchanged.
How would the homestead exemption change if the amendment passes?
If voters approve it, the homestead exemption for non-school property taxes would rise in two steps. The first $150,000 of assessed value would be exempt beginning January 1, 2027, increasing to $250,000 beginning January 1, 2028, with inflation adjustments after that.
This applies only to levies other than school district taxes. The school portion, which is often around 40 percent of a typical bill, would still be owed. State estimates suggest the change would eliminate non-school property taxes for roughly 60 percent of homesteaded owners if it passes.
Is there a catch for people moving to Florida?
Yes, new residents would qualify for less at first. Anyone who establishes Florida residency on or after January 1, 2027 would receive a reduced $50,000 homestead exemption for non-school levies.
Those new residents would become eligible for the larger exemption only in their fifth year. This provision is designed to direct the larger relief toward existing Florida homeowners.
What does this mean for South Florida homeowners thinking about selling?
The honest read is that one cost is falling now and one might fall later. The insurance reduction is real and lands at renewal, which lowers a known monthly carrying cost for Palm Beach, Broward, and Miami-Dade owners today.
The property tax change is a "maybe," contingent on the November vote, so it is not something to bank on yet. For a homeowner weighing a move, the takeaway is that the math of owning is improving on the insurance side, while the tax question stays open until voters decide. Wellington, Fort Lauderdale, and Miami homeowners who want to understand how these shifts affect their specific situation can request a current home valuation rather than guess.
See What Your Home Is Worth in Today's Market
Curious what your home is worth in today's South Florida market? See what your home is worth today with a no-obligation valuation, and we will walk through how the 2026 cost changes affect your numbers. You can also schedule a 30-minute call with Darek to talk through your specific timeline.
Frequently Asked Questions
When does the Florida property tax amendment take effect?
It is not in effect and may never be. The amendment is on the November 3, 2026 ballot and needs 60 percent voter approval. If it passes, the first phase begins January 1, 2027, with a second increase on January 1, 2028.
Did Florida property taxes change in 2026?
No. As of mid-2026, Florida property taxes are unchanged. The Legislature passed a proposed constitutional amendment in June, but it only takes effect if voters approve it in November 2026.
How much is the Citizens insurance rate cut in 2026?
Citizens' approved statewide average reduction is 8.7 percent, effective at policy renewal beginning June 1, 2026. South Florida counties see larger cuts, roughly 11.7 percent in Palm Beach, 12.6 percent in Broward, and 13 percent in Miami-Dade.
Will the new homestead exemption eliminate my property taxes?
Not entirely, even if it passes. The proposed exemption applies only to non-school property taxes. The school district portion of a bill, often around 40 percent, would still be owed.
Does the property tax amendment apply to people moving to Florida?
New residents would get a smaller benefit at first. Anyone establishing Florida residency on or after January 1, 2027 would receive a reduced $50,000 exemption and qualify for the full amount only in their fifth year.
Is now a good time to sell a home in South Florida?
It depends on your situation, not just the headlines. The 2026 insurance reductions lower a real carrying cost now, while the property tax change stays uncertain until November. A current home valuation is the most reliable way to judge your specific numbers.
About the Author
Darek Homel is the Broker-Owner of Landmark Signature Realty LLC, a hybrid brokerage serving Palm Beach, Broward, and Miami-Dade counties. He holds the Certified International Property Specialist (CIPS), Certified Luxury Home Marketing Specialist (CLHMS Guild), Certified Negotiation Consultant (CNC), Seller Representative Specialist (SRS), Accredited Buyer's Representative (ABR), and Short Sales and Foreclosure Resource (SFR) designations. Florida license BK3416208. Sources: Citizens Property Insurance and the Florida Office of Insurance Regulation for 2026 rate figures; the Florida Senate and Tax Foundation for HJR 1F ballot details.