September 25, 2016 | 75° | Check Traffic

Top News

House committee wants to increase tax on luxury home sales

  • State-Capitol-Building-50

The Hawaii House Committee on Water and Land has approved a bill to fund natural resource protection and increase the conveyance tax for high-end properties.

Some of the conveyance tax revenue is already being used to fund environmental protection, which includes protecting watersheds, and affordable housing.

In response to testimony, the committee voted to dedicate more of the revenue to those causes as well as increase the tax for properties worth more than $2 million.

Several environmental groups say that the bill could help preserve Hawaii’s water supply.

Opponents of the bill, including the Chamber of Commerce, say the proposal will discourage real estate business in Hawaii.

The House Committee on Finance will hear the bill next and is likely to determine the specific amounts the tax would increase.

No comments
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.