If You've Owned Your Pembroke Pines Home for 15+ Years, Read This Before You Sell

Most sellers in South Florida walk into a listing conversation focused on price. That's normal. But if you've owned your home for 15 years or more, price is only part of what you're walking away with. The other part is what the IRS keeps.

I'm writing this because Florida Realtors just put out their 2026 Legislative Final Report, and there's a conversation buried inside it that most homeowners aren't having yet — but should be. Property tax reform stalled in Tallahassee this session. The Senate never moved on it. What that means for you as a seller is that the rules are the same as they've always been, and that clarity is actually something you can plan around right now.

Here's what I want you to understand.

Florida Has No State Capital Gains Tax. The Federal Side Is Another Story.

People hear "Florida has no income tax" and assume the sale is clean. Sometimes it is. Sometimes it isn't.

The federal government gives you a break called the Section 121 exclusion. If you've lived in your home as your primary residence for at least two of the last five years, you can exclude up to $250,000 in profit from federal taxes if you're single, or $500,000 if you're married filing jointly.

That sounds like a lot. And in 1997, when that rule was written, it was.

But if you bought a home in Pembroke Pines or Hollywood 15 or 20 years ago for $280,000 and it's worth $680,000 today, you're looking at roughly $400,000 in gain. As a married couple, you exclude $500,000, so you're in good shape. But if you're a single filer, your gain above $250,000 is taxable — and depending on your income, that means 15% or 20% in federal capital gains tax on whatever sits above that line.

The national Association of Realtors estimates that roughly 1 in 3 homeowners have already passed the exclusion limit. That number is higher in South Florida because appreciation here has been faster than most of the country.

The Part Most Sellers Forget About

Your taxable gain is not just sale price minus what you paid. It's sale price minus your adjusted basis.

Your adjusted basis includes the original purchase price, your closing costs from when you bought, and any permanent improvements you made over the years. A roof replacement. A kitchen renovation. An addition. A new HVAC. All of that can be added to your basis, which lowers your gain, which lowers your tax.

The sellers who pay more than they should are almost always the ones who couldn't find their receipts.

If you've owned your home for 15 years and done work to it over that time, dig those records up now. Not the week of closing. Now.

What the 2026 Session Actually Changed (and Didn't)

The Florida House passed a bill that would have let voters decide on eliminating non-school property taxes for homesteaded properties. The Senate never heard it. The bill died.

What did pass is a separate constitutional amendment — HJR 1F — that goes to Florida voters on the November 2026 ballot. It needs 60% approval to take effect, and if it passes, most changes wouldn't start until January 2027.

That means nothing has changed today. No property tax relief has gone into effect. If you're selling this year, plan based on current rules.

There's also a federal proposal called the More Homes on the Market Act that would raise the exclusion limits to $500,000 for single filers and $1 million for married couples. It has strong bipartisan support in Washington. But it hasn't passed. Until it does, the 1997 limits still apply.

Why I'm Telling You This Before the Headlines Do

Because I'd rather you hear it from Darah and me than from a Google search at 11pm after you've already signed a listing agreement.

The right time to think about your tax exposure is before your home goes on the market. Not after. Once you understand your approximate gain, you can talk to a CPA about your options — timing the sale, claiming improvements, whether an installment sale makes sense, or other strategies that fit your situation.

We are not tax advisors. We're your real estate advisors, and that means we help you see the full picture, not just the listing price.

If you've owned your home in Pembroke Pines, Hollywood, or anywhere in Broward County for more than 10 years and you've been thinking about selling, let's talk through what your net number actually looks like — before you decide anything.

Schedule a conversation with us: https://calendly.com/concierge-echeloncollectives/30min

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Read our Seller Guide: https://echeloncollectives.com/sellers-guide