Polarization multiplexing of metasurfaces conventionally requires the synthesis of both geometric and dynamic phases of meta-atoms. We propose a dynamic-phase-only polarization-multiplexing metasurface that consists of three types of polarization-decoupled meta-atoms and covers the 0-2π phase range. As illustrative examples, we designed and investigated a polarized beam splitter that can independently deflect x- and y-polarized incident lights at arbitrary angles. Furthermore, we designed and studied polarization-multiplexing metasurface-holography embracing double channels of orthogonal polarizations. Both metadevices demonstrate the effectiveness of our approach. This study paves the way for the design of polarization-multiplexing electromagnetic structures for application in metamaterials and metasurfaces.