HBR News

Condominium Residential Use dedication filing deadline is September 1, 2017

In April 2017, the Honolulu City Council passed Bill 8 (17) will allows certain condominium owners to consider dedicating their properties for Residential Use for a five-year period if their units are being used as a primary residence, or a long-term rental (more than 30 days at a time). 

The dedication allows the properties that are currently on land zoned as mixed use, hotel, or commercial, and whose Declaration of Condominium or Horizontal Property Regime specifically states that the unit is allowed to be used as residential, to be classified as Residential, and thereby eligible for the historically lower real property tax rate.

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Property Tax Bills To Be Considered

With passage of the 2017/2018 Fiscal Year Budget for the City & County of Honolulu, City Council Members can now focus attention on revenue-generating and cost-reduction initiatives. Specifically, a number of property tax measures have been introduced and deserve discussion to determine possible impact.

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Budget Bills Passed

Honolulu Mayor Kirk Caldwell returned a number of bills to City Council – unsigned – including the executive operating budget, the executive capital budget, and the HART operating and capital budget bills for fiscal year July 1, 2017 to June 30, 2018. The bills passed third reading at the City Council’s meeting on June 7.

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Council Hearing Tackles Budget Bills

On Wednesday, June 7, the Honolulu City Council agenda will include budget bills for the 2017/2018 fiscal year including the executive, legislative and capital improvement budgets. Critical to passing the budget is the approval of the 2017/2018 property tax rates to pay for increased services and other expenses.

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