Page 7 - MidWeek East - August 10, 2022

T he City & County of Honolulu’s primary source of revenue comes from real property tax collections, which make up about 38% of the budget. The revenue enables the city to provide services to the community and ensures a high bond rating. While RPT affects us island wide, there are specifific issues that affect
as certifified by the state De- partment of Land and Natural Resources. These homes are accessible to the public from 9 a.m. to 4 p.m. every second Saturday. The RPT exemp- tion for these properties is in- tended to help defray mainte- nance costs. However, some feel the exemption, allowing owners to pay $300 per year, is not equitable or necessary.
Bill 41 (2022), now law as Ordinance 22-7, aimed to curb short-term vacation rentals, but an additional benefifit could be an increase
in homes on the market for local families. Another pro- posal would convert invest- ment properties into housing for local people.
laration is fifiled with the city.
Losing a loved one is stressful. Details and tasks can fall through the cracks as we navigate through our grief. Inheriting a property creates a task that, if over- looked, could result in a higher property tax classififi- cation.
or before Sept. 30 to claim your exemption.
The O‘ahu Real Property Tax Advisory Commission has issued its fifinal report, an its recommendations include the topics we’ ve covered. See honolulucitycouncil.org/ oahu-real-property-tax-ad- visory-commission. The budget committee will host a public informational brief- ing on the report at a future meeting. City Councilmem- bers may introduce legis- lation based on the report,
giving you an opportunity to testify as measures go through the process. I encourage you to carefully read through your real property tax notice of assessment and browse our city’s RPAD website at realpropertyhonolulu.com. Call 808-768-3799 with any questions or concerns.
Contact City Coun- cilmember Calvin Say (D-5 — Kaimukī, Pālolo Valley, Saint Louis Heights, Mānoa, Mō‘ili‘ili, McCully and por- tions of Ala Moana, Kaka‘ako and Makiki) at 808-7685-5005 or ckysay@honolulu.gov.
East O‘ahu neighborhoods.
Housing Availability
East O‘ahu supporters say the Empty Homes Tax Bill 9 (2022) would increase our supply of homes to better meet demand and reduce un- affordable prices, and would raise funds for affordable housing and homelessness solutions. Opponents note that the bill may have unin- tended consequences, as the current language presumes all residential properties are vacant unless an annual dec-
For example, if you live at the property but it is not in your name (or if you plan to make it your primary home), you need to report the change to the Real Prop- erty Assessment Division on
Historic Residential Property Dedication
Historic residential prop- erties are on the Hawai‘i Register of Historic Places,
CITY COUNCILMEMBER CALVIN SAY
The Biggest Tax Issues Facing Area Neighborhoods
Inheriting Property
O‘ahu Real Property Tax Advisory Commission
AUGUST 10, 2022 7
Hawaii’s Most Trusted Movers Since 1968
Moving Hawaii into the future.
Call us for all your moving and storage needs!
100% Employee Owned
808.456.4200 • info@mdyerglobal.com
98-054 Kuleana Road, Pearl City
Now Hiring!
PREPARE YOUR
HURRICANE SUPPLIES NOW
ONLY BUY WHAT YOU NEED AND LEAVE ENOUGH FOR OTHERS
Learn more at preparenowhawaii.org
PACKING MATERIALS FOR SALE!