December 26th, 2016 by Darcy

Property taxes had always been very palatable on Oahu until the city council put a higher real property tax rate on homes valued above 1 million dollars that are not owner occupied. The current rate is $6 per 1000 of assessed value.

Good news: The rate for owner occupants is $3.50 per 1000 of assessed value.

Better news: If you are an owner occupant under 65 years of age your exemption will be 80,000. If you are 65 and above your exemption goes to 120,000.

Many home owners have not been aware of the benefit of filing the owner occupant paperwork. There is a Hawaii homeowners tax exemption form you can file with the county.

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