The $5 million condo, line by line: what three new towers cost to own in 2027
A Waldorf Astoria on the sand in Pompano Beach, a St. Regis on Brickell Avenue and Continuum on the 79th Street Causeway. We worked through the published dues, the insurance rules and the 2026 tax rates for each one. The first year’s bill turns out not to be the one to plan around.
The wire has cleared and the keys are in hand. The movers have left. Then the envelopes start to arrive: the association’s first assessment, the insurance renewal and, in November, the county tax bill. At $5 million, each of those lines is large enough to change which tower makes sense, and none of them appears in the purchase price.
This guide works through those lines for three new towers on Haute Residence’s New Developments board. It uses only figures that someone has published and dated: the developer, a county property appraiser or the State of Florida. Where a number has not been published, we leave the line blank rather than fill it in.
Rendering courtesy of the developer.
At 2026 adopted tax rates, $5 million of taxable value costs $99,772 a year in the City of Miami, $101,496 in Pompano Beach’s Hillsboro Inlet district and $116,015 in North Bay Village. Dues are published for Waldorf Astoria Pompano Beach and Continuum but not St. Regis Brickell. Master insurance sits inside the dues; HO-6 is quoted per owner.
The three lines on every bill
Every condo owner pays the same three costs every year. The first is the association assessment. In a new building it covers the staff, the amenities, the reserves and the master insurance policy on the structure and common areas, so the building’s own insurance reaches you through the dues. The second is your HO-6 policy for the interior, contents and liability. Florida law requires every unit-owner policy to carry at least $2,000 of loss-assessment coverage. The third is property tax: taxable value times the total millage, divided by 1,000, plus any non-ad valorem charges on the bill. A bill paid in November gets a 4% discount under state law.
The 2026 rates in this guide are the latest adopted by the counties. The Miami-Dade Property Appraiser’s 2026 adopted millage chart and the Broward County Property Appraiser’s 2026 final millage table were both checked November 12, 2026. Rates for 2027 have not been set.
Waldorf Astoria Residences Pompano Beach: a real $4.9 million residence
Of the three towers, the Waldorf Astoria Residences Pompano Beach gives the most complete picture. It is a 28-story tower of 92 residences on two oceanfront acres at 1350 S Ocean Boulevard, with 200 linear feet of private beach access. Our project page, last updated September 2026, lists the largest plan, a four-bedroom plus den of about 3,557 square feet, from $4,893,900. Completion is expected in 2027.
It is also one of two projects on our board that publish a maintenance estimate. The developer’s fact sheet (October 2023) and purchaser’s guide (January 2024) give $1.61 per square foot without reserves and $1.74 with reserves. Neither document states the billing period. On that residence, $1.74 times 3,557 square feet is $6,189 per billing period. If the developer confirms the figure is monthly, that comes to $74,270 a year. The reserve share alone, 13 cents a foot, is $462 per period.
For tax, the Broward County Property Appraiser lists the site under millage code 1511, Pompano Beach in the Hillsboro Inlet district. The 2026 final rate there is 20.2992 mills. On a taxable value of $4,893,900, that comes to $99,342 a year, or $95,369 if paid in November.
Added together, with the dues taken as monthly, the residence carries about $173,600 a year before the HO-6 premium.
Rendering courtesy of the developer.
The St. Regis Residences, Miami: the $5 million door, and a blank line
On Brickell Avenue, The St. Regis Residences, Miami starts exactly at the price this guide is about. Our project page, with pricing last updated August 2026, lists 152 residences from $5 million in a 50-story tower by Robert A.M. Stern Architects. The tower is under construction for 2027 delivery.
The tax line is easy to work out. At the City of Miami’s 2026 adopted rate of 19.9544 mills, $5,000,000 of taxable value comes to $99,772 a year. Parcels inside the Downtown Development Authority district pay 20.3344 mills, or $101,672, so check the millage code on the parcel record.
The dues line is blank. Our project page does not publish an association estimate, so we have not entered one. The binding figure is in the prospectus. Florida requires it to attach an estimated operating budget showing each owner’s monthly and annual expenses, and buyers get 15 days after receiving the documents to cancel. Use that window.
Continuum Club & Residences: the published rate, and the highest tax rate
On the 79th Street Causeway in North Bay Village, at number 1755, Continuum Club & Residences is the other tower on our board with a published association figure: $1.77 per square foot, from the developer’s July 2026 brochure, with no billing period stated. Its July 2026 price list doesn’t reach $5 million. The highest published line is three bedrooms from $2,946,000. Residences run up to 4,000 square feet, and penthouse pricing is not listed. So Continuum is a test of the rates rather than of one residence. At $1.77, every 1,000 square feet costs $1,770 per billing period.
Continuum’s millage is the highest of the three. North Bay Village’s 2026 adopted total is 23.2030 mills, up from 21.8955 in 2025, so $5,000,000 of taxable value would owe $116,015 a year. That is $16,243 more than the same value in the City of Miami. Closing is estimated for the first quarter of 2028, and owners may rent after closing for at least 90 days at a time, up to three times a year.
Rendering courtesy of the developer.
Why 2027 isn’t the year to budget on
Here is the twist for anyone closing next year. Florida assesses a building’s improvements only once they are substantially complete on January 1. That means a tower still under construction on that date carries little or no building value for that tax year. The St. Regis site shows how this works. The Miami-Dade Property Appraiser’s record for 1809 Brickell Avenue, checked November 12, 2026, lists a 2026 building value of $0 and a land value of $85,375,240 for the whole site.
For a 2027 closing, the first full bill at the new residence’s value usually arrives the following year. Budget on that bill, not on the first one. The appraiser’s just value can also come in below your purchase price, which is why the figures above are a ceiling for the tax line, not a forecast.
What Amendment 3 changes from January 1
The amendment voters approved on November 3, 2026, by 61.98% in unofficial returns, takes effect January 1, 2027. It works differently for second homes and primary homes. For a second home, after the first assessment, yearly increases for non-school taxes are capped at 5% instead of 10%.
For a primary home, the homestead exemption from non-school taxes rises to as much as $150,000 in 2027 and $250,000 in 2028. A buyer who is not a Florida resident by December 31, 2026, starts on the existing exemption and gets the increase from the fifth year. Homestead also requires owning the home and living in it on January 1 of the tax year, so a 2027 closing first qualifies for 2028. These are exemptions, not dollar savings, and implementing guidance is still pending. Our Amendment 3 explainer covers the dates in full.
Side by side
Published figures only, checked November 12, 2026. Where a line is blank, no figure has been published. Tax is taxable value × 2026 total millage ÷ 1,000, before exemptions and non-ad valorem charges.
| Tower | Published price used | Association estimate (period not stated) | 2026 total millage | Property tax on the value shown | HO-6 |
|---|---|---|---|---|---|
| Waldorf Astoria Residences Pompano Beach | $4,893,900 (4BR + den, about 3,557 SF) | $1.74/SF with reserves = $6,189 per period | 20.2992 (Broward code 1511) | $99,342 | Owner’s quote |
| The St. Regis Residences, Miami — Brickell | $5,000,000 (from-price) | Not published; request prospectus budget | 19.9544 (City of Miami) or 20.3344 (DDA) | $99,772 or $101,672 | Owner’s quote |
| Continuum Club & Residences | No $5M line published; $5,000,000 used for the tax rate only | $1.77/SF = $1,770 per 1,000 SF per period | 23.2030 (North Bay Village) | $116,015 | Owner’s quote |
For the per-foot view across buildings, see Miami condo HOA fees by building. The monthly formula is in our South Florida luxury condo HOA guide, and the one-time closing costs are covered in what a $5M new-development condo really costs per year.
Sources
- Haute Residence, Waldorf Astoria Residences Pompano Beach project page (last updated September 2026; checked Nov. 12, 2026): 4BR + den about 3,557 SF from $4,893,900; maintenance $1.61/SF without reserves and $1.74/SF with reserves per developer fact sheet (Oct. 2023) and purchaser’s guide (Jan. 2024), billing period not stated; Broward millage code 1511; est. completion 2027 — https://www.hauteresidence.com/waldorf-astoria-residences-pompano-beach/
- Haute Residence, The St. Regis Residences, Miami — Brickell project page (pricing last updated August 2026; checked Nov. 12, 2026): from $5M; 152 residences; 50 stories; delivery 2027 — https://www.hauteresidence.com/st-regis-brickell/
- Haute Residence, Continuum Club & Residences project page (checked Nov. 12, 2026): price ranges and $1.77/SF HOA per developer brochure, July 2026; 850–4,000 sq ft; closing est. Q1 2028; rental policy — https://www.hauteresidence.com/continuum-club-residences/
- Miami-Dade Property Appraiser, 2026 Adopted Millage Rates (City of Miami 0100: 19.9544; Miami DDA 0101: 20.3344; North Bay Village 2300: 23.2030, 2025: 21.8955), checked Nov. 12, 2026 — https://www.miamidadepa.gov/resources-pa/library/reports/millage/2026-adopted-millage-chart.pdf
- Broward County Property Appraiser, 2026 Final Millage Rates (Pompano Beach – Hillsboro Inlet 1511: 20.2992 real property), checked Nov. 12, 2026 — https://bcpa.net/Includes/Downloads/2026/2026%20Final%20Millage%20Rate%20Table.pdf
- Miami-Dade Property Appraiser, property record for folio 01-4139-001-2405, 1809 Brickell Ave (2026 building value $0; land value $85,375,240), checked Nov. 12, 2026
- Florida Statutes: 192.042 (improvements assessed when substantially complete on Jan. 1); 197.162 (4% discount for November payment); 627.714 and 718.111 (HO-6 and $2,000 loss-assessment coverage; master policy); 718.503 and 718.504 (prospectus budget; 15-day cancellation), as summarized in Haute Residence’s South Florida luxury condo HOA guide
- Florida Division of Elections, Amendment 3 (2026) ballot summary and full text; unofficial statewide results, as summarized in Haute Residence’s Amendment 3 explainer (Nov. 5, 2026): https://www.hauteresidence.com/news/florida-amendment-3-residency-homestead-december-31/
This article is general information, not tax, legal or insurance advice. Consult your advisors.
Frequently asked questions
What is the property tax on $5 million of taxable value in these three locations?
At 2026 adopted or final rates: $99,772 in the City of Miami (19.9544 mills), or $101,672 inside the Downtown Development Authority district (20.3344). It is $101,496 in Pompano Beach’s Hillsboro Inlet district (20.2992) and $116,015 in North Bay Village (23.2030). These figures are before exemptions and non-ad valorem charges.
Which of the three towers publish an HOA estimate?
Two. Waldorf Astoria Residences Pompano Beach publishes $1.61 per square foot without reserves and $1.74 with reserves. Continuum Club & Residences publishes $1.77 per square foot. Neither states the billing period. Haute Residence’s St. Regis Brickell page does not publish one.
Does the HOA fee include insurance?
The association’s master policy on the structure and common elements is paid through the dues. Each owner also needs an HO-6 policy, and Florida requires it to include at least $2,000 of loss-assessment coverage.
Why might my first tax bill in a new tower be low?
Florida assesses improvements once they are substantially complete on January 1. A tower still under construction on that date carries little or no building value for that year. For example, the 2026 record for the St. Regis Brickell site lists a building value of $0.
How does Amendment 3 affect a $5 million second home?
From January 1, 2027, yearly increases in assessed value for non-school taxes on non-homestead property are capped at 5% instead of 10%. The cap applies after the first assessment at just value.
Can I claim the bigger homestead exemption if I close in 2027?
Homestead requires owning the home and living in it permanently on January 1 of the tax year, so a 2027 closing first qualifies for 2028. The non-school exemption rises to as much as $250,000 that year. Buyers who are not Florida residents by December 31, 2026, start on the existing exemption, and the increase begins in their fifth year.