WHEREAS, Hawaii has one of the overall highest-priced real estate markets in the nation; and

WHEREAS, the real property tax is the major source of revenue for the four counties; and

WHEREAS, it can be a financial hardship for homeowners to have to pay their real property tax assessments, which are based on their property value and can be substantial, in large increments; and

WHEREAS, currently, the counties assess the taxes on July 1 and require two semiannual payments; and

WHEREAS, if real property tax assessment payments could be spread out quarterly, they would be easier for many homeowners to afford; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-first Legislature of the State of Hawaii, Regular Session of 2001, that the counties are requested to offer their homeowners the option of paying their real estate property tax assessments quarterly; and

BE IT FURTHER RESOLVED that certified copies of this Resolution be transmitted to the Mayor and Chairperson of the Council of each county.