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House committee wants to increase tax on luxury home sales

By Star-Advertiser staff

POSTED:

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.







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from_da_cheapseats wrote:
Idiotic to tie luxury home sales to watershed, as those living in big homes actually protect the enviroment and use less of our natural resources. Plus they don't send kids to school, put cars into rush hour, etc. Let the enviromentalists get money elsewhere, and give the additional tax to the poor in the form of housing, the most basic need.
on March 18,2013 | 03:16PM
1local wrote:
How about increasing tax on luxury jewelry - those big gold bracelets should be taxed as luxury items...
on March 18,2013 | 03:33PM
foursun wrote:
you mean like the gaudy gold chains hip hoppers like to wear that's discriminatory don't you know
on March 18,2013 | 07:11PM
HD36 wrote:
What about that Rolex Daytona Cosmograph model 116509 white gold with the black face and red second hand. $37,500 at Ben Bridge. Maybe they could add another $4895.36 because after all you can just look at your cell phone if you want the time.
on March 18,2013 | 11:55PM
gari wrote:
is someone in the state capital looking into minimizing some of these expenses . before trying to fund it . Wow!!!! where are the people whoare willing to do the hard jobs for us .Taking from someone or moving the cash should not be their main job or is it .
on March 18,2013 | 03:50PM
iwanaknow wrote:
start taxing home if they sell for $1 million and up
on March 18,2013 | 03:54PM
foursun wrote:
in honolulu, that's not a very luxurious home and it's probably owned by a 2 career family.
on March 18,2013 | 07:12PM
HD36 wrote:
A currency crises will make everything go higher, even real estate in nominal terms.
on March 18,2013 | 11:56PM
bumba wrote:
Faye Hanohano is on that committee. Lose money.
on March 18,2013 | 05:37PM
foursun wrote:
oh yes, her idea of a luxury home is one with indoor plumbing and a working toilet
on March 18,2013 | 07:13PM
localguy wrote:
Once again sad to say our elected bureaucrats have a one track mind. Their solution to any problem is "Raise Taxes" Never do they try for more efficient use of tax payer's money, more efficient programs, reducing fraud and waste. You can't tax your way to Utopia, they just don't get it.
on March 18,2013 | 06:25PM
foursun wrote:
agree
on March 18,2013 | 07:14PM
IAmSane wrote:
Allie must have made a new account.
on March 18,2013 | 07:40PM
HD36 wrote:
I know, fourskin has the same one liners.
on March 18,2013 | 11:57PM
64hoo wrote:
some of the tax is being used for environmental wack'os then they should stop giving are taxes to them since there getting it from this luxury tax
on March 18,2013 | 06:30PM
foursun wrote:
nothing wrong with protecting the environment, need to stop paying for bogus athletics to satisfy sports wackos like you.
on March 18,2013 | 07:15PM
foursun wrote:
want to save money and cut taxes on folks who work? Disband OHA and retrieve the funds they have squandered and wasted on their scam
on March 18,2013 | 07:36PM
mokebla wrote:
Its to pay for their pay raise.
on March 19,2013 | 05:13AM
menloboy wrote:
TAXES ARE A GREAT IDEA AS LONG AS THE "OTHER GUY" PAYS!
on March 19,2013 | 08:35AM
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