It may get financially easier to buy and sell in Florida soon

Some recent moves by the federal and state government may inspire more buying and selling in Florida.

Centered around taxes, these three changes could provide incentives for both buyers and sellers of residential properties.

$40k SALT deduction: This temporary federal tax law increases the amount of state and local tax (SALT) starting this year. The new law preserves mortgage interest deductibility, and will increase by $10,000 each year through 2029. It’s currently set at $40,000. According to the National Association of Realtors, this is a major benefit that makes homeownership more accessible and affordable.
Governor’s call for property tax cuts: DeSantis says he is making it a priority to reduce taxes on homes. He proposed a 2026 ballot amendment that gives voters the chance to rid homestead properties of taxes, which he calls “having to pay rent to the government.”
Proposed capital gains changes: The current exclusions capped at $250,000 (single) /$500,000 (married) have not kept up with current market prices, and have not been adjusted for inflation since they were introduced in 1997. A new No Tax on Home Sales Act will remove the current dollar limits for the sale of a primary residence. The President seems to be in favor of this bill, so stay tuned.

Additionally, recent property insurance reforms in Florida around litigation are stabilizing the market and helping to lower the cost of insurance premiums. New companies are entering the state and litigation is decreasing, since limits to lawsuit amounts have were introduced two years ago.

Florida is still one of the highest U.S. states in terms of net migration, and closed sales of single-family homes rose by 2.8% year-over-year as of June 2025. It continues on as a real estate hot spot and these promising possibilities may increase its attractiveness, and influence significantly more activity.