Bill 36 introduced by budget chair Trevor Ozawa (District 4 – East Honolulu) heads to second reading before City Council on Wednesday, May 9. The bill would provide real property tax relief for property damaged or destroyed as a result of natural disaster – specifically the flood of April 13.
Honolulu City Council Budget Chair Trevor Ozawa along with Vice Chair Ann Kobayashi will begin budget briefings for the 2018/2019 Fiscal Year on Wednesday, April 11, at 9 am at Honolulu Hale. The agenda includes review of the legislative budget, the executive operating and capital budgets, and Honolulu Authority for Rapid Transit (HART) executive and operating budgets.
City Council Bill 101 provides real property tax relief for installation of an automatic sprinkler system on an owner's high-rise condominium property. An owner of a residential unit in an existing high-rise residential would be entitled to up to a $2,000 tax credit against the owner's real property tax liability if an automatic sprinkler system is either installed throughout the high-rise building or the common areas of the existing residential high-rise building. Existing high-rise residential building means any building that has floors used for human occupancy located more than 75 feet above the highest grade, contains dwelling units, and which was erected prior to 1993. The credit will be applied against real property tax liability for the tax year immediately following approval.
As the Honolulu City Council prepares for budget hearings for the 2018/2019 fiscal year, the Budget Committee will meet on Wednesday, February 14, to hear two of many expected property tax bills.
