HBR News

Council Hears Bill to Cap Property Tax Increases

Council Member Carol Fukunaga has introduced Bill 49, which attempts to provide tax relief to homeowners by placing a cap on the City’s valuation of real property for tax purposes. If passed, the property owner with the homeowner’s exemption would realize no more than a two percent per year increase in valuation unless:

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Update: Short-term vacation rentals

As HBR and our City Affairs Committee (CAC) continue to engage with City Council and various county departments on Ordinance 19-18, we appreciate the questions and concerns that were raised by our members at the HBR Agent Forum on July 12 regarding Bill 89 as to how the new law change will impact real property with Nonconforming Use Certificates (NUC). The understanding of the law, how it will be enforced and regulated, addressing existing NUC’s and B&B’s and newly permitted B&B’s, is still under discussion and review by DPP. As more clarity is provided, HBR will continue to provide updates. Links to the forum handouts and videos can be found below.

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Honolulu City Council Update

City Council passed the following measures on the following:

Residential A tax rate increase | Homeowner's exemption amount increase | Short-term vacation rental regulations and enforcement


RESIDENTIAL A TAX RATES INCREASE

Honolulu City Council introduced and passed Resolution 19-55, which sets real property taxes for Hotel/Resort and Residential A for fiscal budget year 2019-2020. Residential A Tier 2 (after the first million) tax rate was raised to $10.50 (a $1.50 increase) per $1,000 assessed property value. Residential A tax rate applies to property owners without a home exemption. Property owners will see an increase in their July Honolulu City & County real property tax bill. 

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Affordable Walk-Up Rental Bill Heard by City Council

On March 28, the City Council Committee on Zoning and Housing chaired by Kymberly Pine heard a number of bills in an attempt to address Oahu’s affordable housing shortage. Bill 6 is a bill to encourage development of affordable walk-up rental properties for low wage earners and reduce proliferation of excessively large single-family homes. 

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