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HOUSE OF REPRESENTATIVES |
H.R. NO. |
152 |
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TWENTY-FIFTH LEGISLATURE, 2009 |
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STATE OF HAWAII |
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HOUSE RESOLUTION
requesting the city and county of honolulu TO EXAMINE and adopt A MORE equitable property tax system based on the purchase price rather than the valuation of real property.
WHEREAS, property taxes, administered and collected by the City and County of Honolulu, are based on the valuation of the property being taxed; and
WHEREAS, county property tax assessments are based on the market value, recent sales history, and improvements to the property being taxed; and
WHEREAS, while a property owner can control the condition and maintenance of a property, a property owner has no control over real estate market forces and the sales of property in the neighborhood which, in some cases can dramatically increase real property tax valuation by more than twenty per cent in a very short period; and
WHEREAS, in some areas of the State investors and non-residents have purchased second or vacation homes in neighborhoods with longtime residents and caused property valuation to skyrocket to the detriment of many homeowners--especially retirees on fixed incomes; and
WHEREAS, to preserve the lifestyle and sense of community with residents who have no intention of selling their homes, and to provide relief for homeowners struggling to keep pace with the State's high cost of living, a more equitable property tax system based on the purchase price of the home is needed; now, therefore,
BE IT RESOLVED by the House of Representatives of the Twenty-fifth Legislature of the State of Hawaii, Regular Session of 2009, that the City and County of Honolulu is requested to examine and adopt a more equitable property tax assessment system that is based upon the purchase price rather than the valuation of the real property being taxed; and
BE IT FURTHER RESOLVED that certified copies of this Resolution be transmitted to the Mayor of the City and County of Honolulu, the Chairperson of the Honolulu City Council, and the Administrator of the Real Property Assessment Division of the City and County of Honolulu.
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OFFERED BY: |
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Property Tax