By: David Kucic RA
CRS, GRI, ABR, e-PRO, AHWD
First Sergeant, USA (Ret)
Tropic Lightning Real Estate
The 2008 Real Property Assessment Notices for Honolulu County home owners were mailed out this week.
This information pertains only to the taxes for single family homes, condominiums and townhouses in Honolulu County, Hawaii. Honolulu County is the entire island of Oahu.
Hawaii real estate has seen a slight decline just like the rest of the United States but at a much lower and slower rate of decline. This bit of a decline is good news for homeowners who plan on keeping their homes rather than selling them.
For 2007, the Tax rate for Hawaii single family homes, condominiums and townhouses was taxed at $3.29 per every $1,000 of assessed value.
For 2008 on many of the areas on Oahu, the assessed value decreased because of the overall decrease in the price of Hawaii Real Estate. As long as the tax rate of $3.29 remains the same in 2008, homeowners who's assessed values went down will see a decrease in their property taxes.
I am counting on our government leaders to keep the tax rate the same.