Bill 21, which provides property tax relief to property owners who dedicate their property for lifetime residential use, is receiving opposition from the Department of Budget and Fiscal Services (BFS). However, the bill will move to a second reading before the full council. BFS testified that the bill would discriminate against certain groups of property owners. They explained that when real property taxes are limited by a specified percentage increase year over year in a rising market, new owners, including first-time homebuyers, will bear a greater proportion of the taxes than their neighbors. The length of time of ownership has no direct correlation to the ability to pay real property taxes.

Read more: Property Tax Relief Bill Moves Ahead

Bill 27 would waive certain fees for homeowners to create an accessory dwelling unit (ADU), a move that could save homeowners up to $10,000. Drafted by the Department of Planning and Permitting (DPP), the measure would waive all building permit, grading, and inspection fees, and wastewater facility charges for two years. It would also permanently waive parking-dedication requirements for ADUs.

Read more: Bill Proposes Waiving ADU Permit Fees

We had fantastic turnout for a Honolulu Board of REALTORS® agent forum last week, with nearly 400 members, affiliates and local lawmakers gathering to listen to representatives from five of the most prominent developers in the islands talk about the future of housing on Oahu.

Read more: Notes from the Housing Development Forum

Councilmember Ann Kobayashi introduced Bill 12 to provide property-tax relief to families who dedicate their Residential A property for family rental. If the property was purchased for less than $1M and is dedicated to family-rental, including parents, siblings and children, for 5 years, then the property owner would receive the lower residential property tax classification.

Read more: Bill 12 Provides Property-Tax Relief for Family Rental Housing