The City and County of Honolulu will be sending residents real property assessments for the upcoming 2015 fiscal year. For residential properties, the gross assessed value went up from $169.2 billion to $174.5 billion, or a 7.2 percent increase. Gary Kurokawa, the city deputy director of budget and fiscal services, stated, "When we look at the numbers, I think that it's pretty similar to last year's increases. The market has been relatively stable as far as the values of properties."
The standard residential tax rate is $3.50 per $1,000 of assessed property value. However, Residential A class dwellings, which are defined as properties worth more than $1 million that are not owner occupied, will pay $6 per $1,000 of assessed value. For owners who wish to dispute their real property assessment, they may file appeals up until January 15th. Visit the Real Property Assessment Division's website at www.realpropertyhonolulu.com and click on the "Assessment Appeals" link.
Source: Honolulu Star Advertiser, 12-14-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
