Due to our concentrated shoreline development and our remote location in the central Pacific, we are vulnerable to impacts from both shoreline erosion and sea level rise. These issues are a growing concern here on O’ahu.
Read more: Growing Concern Over Shoreline Erosion and Sea Level Rise
Honolulu City Council passed the following measures related to Real Property Tax:
Real Property Tax Rate Set for 2020-2021
Honolulu City Council introduced and passed Resolution 20-64, which sets real property taxes for Fiscal budget Year 2020-2021. The real property tax rates remain the same except for a $0.50 increase from $13.40 to $13.90 for Class B – Hotel and Resort and the addition of the Bed and Breakfast home property tax class at a tax rate of $6.50. We are glad to see that there is no change in Residential or Residential A (Tier 1 & Tier 2) tax rates.
Council Member Carol Fukunaga has introduced Bill 49, which attempts to provide tax relief to homeowners by placing a cap on the City’s valuation of real property for tax purposes. If passed, the property owner with the homeowner’s exemption would realize no more than a two percent per year increase in valuation unless:
As HBR and our City Affairs Committee (CAC) continue to engage with City Council and various county departments on Ordinance 19-18, we appreciate the questions and concerns that were raised by our members at the HBR Agent Forum on July 12 regarding Bill 89 as to how the new law change will impact real property with Nonconforming Use Certificates (NUC). The understanding of the law, how it will be enforced and regulated, addressing existing NUC’s and B&B’s and newly permitted B&B’s, is still under discussion and review by DPP. As more clarity is provided, HBR will continue to provide updates. Links to the forum handouts and videos can be found below.
City Council passed the following measures on the following:
Residential A tax rate increase | Homeowner's exemption amount increase | Short-term vacation rental regulations and enforcement
RESIDENTIAL A TAX RATES INCREASE
Honolulu City Council introduced and passed Resolution 19-55, which sets real property taxes for Hotel/Resort and Residential A for fiscal budget year 2019-2020. Residential A Tier 2 (after the first million) tax rate was raised to $10.50 (a $1.50 increase) per $1,000 assessed property value. Residential A tax rate applies to property owners without a home exemption. Property owners will see an increase in their July Honolulu City & County real property tax bill.
