Err on the side of caution and make sure your exemption requests are received prior to the deadline.
If you purchased your primary residence in District IV within the last year, or forgot to file previously, make sure you file your Homeowners Exemption with the City’s Department of Budget and Fiscal Services Real Property Assessment Division. You only need to do this once to receive its benefits.
- Basic home exemption is an $80,000 deduction from your assessed property value and you are taxed on the remaining balance.
- Exemption for owners 65 and older (on or before June 30 of the preceding tax year of claim) is $120,000. If you have an existing home exemption, with your birthdate on file, your exemption amount will automatically increase dependent on your age.
Do the math! The residential tax rate equals $3.50 per $1k of your assessed property value. This equals $280 a year for basic exemptions and $420 a year for owners 65 and older that qualify. It may not be much now but every dollar saved adds up.
Totally Disabled Veterans (due to injuries received while on active duty with the U.S. Armed Forces) are exempt from all property taxes except the $300 minimum real property tax on their home. Please note that different deadlines apply.
If you have impaired sight or hearing, are totally disabled and/or have Hansen’s Disease, you may file a claim for a $25,000 real property tax exemption for property you own (this is in addition to the regular or multiple home exemption. Deadline to file is September 30.
High Cost of Living and Insufficient Affordable Inventory Prices Our Residents Out of the Housing Market
Due to insufficient affordable inventory, home prices will increase due to market demand. We have lost our way with cost of living driving the rental housing demand by tourists rather than by residents who live, work and raise keiki here. I support transit-oriented development using city and state land for affordable housing. I do not support illegal TVUs and B&Bs or other commercial use of residential zoned property for personal profiteering.
In an effort to bolster our affordable inventory, the city should consider waiving city permit fees and sewage hook-up fees for builders of low income and affordable housing and analyze policies on Frozen rentals (rent control districts) which are common practice in New York City and Berkeley. I am open to exploring these types of solutions to support our long-term affordable housing needs.
Alert: The application for the Real Property Tax Credit for Homeowners residing in the City & County of Honolulu has been released. Qualified applicants must have their documents received by the City and County of Honolulu by October 1, 2018.
Eligibility and additional information can be found at: Department of Budget & Fiscal Services - Division of Treasury
Now is the time to explore working together with our community partners on additional public-private partnerships. Two examples are Kauhale Kamaile and Kahauiki Village. Our residents need more sustainable housing solutions that will not price them out of the market. We need Leadership with Aloha.
For more information about Kauhale Kamaile: https://www.honolulu.gov/…/30062-farrington-hwy-modular-hom…