Quantcast
  

Tuesday, October 21, 2014         

HOMEOWNERSHIP IN HONOLULU


TO ACCESS SUBSCRIBER CONTENT:
Current Print Subscribers
ACTIVATE account
- OR -
LOGIN or SUBSCRIBE
for full digital access

City defends leaps in property taxes

By Rob Perez

POSTED: 01:30 a.m. HST, Jul 31, 2014

~~<p>Oahu homeowners hit with huge jumps in their property-tax bills continue to lash out at the way the city calculated the amounts. Some absentee owners of the island's most expensive residences are facing an annual tab approaching or topping $100,000.</p>
<p>But city officials Wednesday defended the system, saying the new law taxing $1 million-plus, non-owner-occupied homes at a substantially higher rate is a good one. They also said the automated process used to calculate assessed values &mdash; what property tax bills are based on &mdash; is fair, takes into account differences in properties and accurately reflects what is happening with real estate sales.</p>
~~

Oahu homeowners hit with huge jumps in their property-tax bills continue to lash out at the way the city calculated the amounts. Some absentee owners of the island's most expensive residences are facing an annual tab approaching or topping $100,000.

But city officials Wednesday defended the system, saying the new law taxing $1 million-plus, non-owner-occupied homes at a substantially higher rate is a good one. They also said the automated process used to calculate assessed values — what property tax bills are based on — is fair, takes into account differences in properties and accurately reflects what is happening with real estate sales. Login for more...



Login or sign up below for the complete story

Print Subscribers
ACTIVATION
Current print subscribers, activate your premium content account for unlimited online access & commenting
New Subscribers
Find subscription offers in your area and choose the package that suits your reading preferences.

14-DAY PASS
14 day premium online access and commenting ability on StarAdvertiser.com