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Council OKs changes in property tax

The bills create a new class for million-dollar homes and affect certain exemptions

By Gordon Y.K. Pang

POSTED: 01:30 a.m. HST, Sep 15, 2013

~~<p>Two bills approved by the Honolulu City Council last week could have an impact on what you pay in property taxes in the coming year.</p>
<p>Bill 42 creates a new property tax classification dubbed the &ldquo;Residential A&rdquo; class, which would include all houses and condominiums valued at $1 million or more. Properties that have home exemptions, even those valued at $1 million or more, would still be in the existing &ldquo;Residential&rdquo; class.</p>
~~

Two bills approved by the Honolulu City Council last week could have an impact on what you pay in property taxes in the coming year.

Bill 42 creates a new property tax classification dubbed the “Residential A” class, which would include all houses and condominiums valued at $1 million or more. Properties that have home exemptions, even those valued at $1 million or more, would still be in the existing “Residential” class. Login for more...



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