What you need to know about Oahu real estate appraisals coming soon to mailboxes
The City plans to send out property assessment notices for the 2020-2021 tax year by December 15.
Assessments are the first thing residents need to calculate their property tax bill for the following year. The second will come in June 2020, when city council sets the tax rate based on every $ 1,000 of a property’s assessed value.
Honolulu Mayor Kirk Caldwell said this week he will not ask for a property tax rate hike for 2020-2021, although city council may come up with its own increase.
The 2020-2021 valuation of all Oahu real estate increased 1.7% from $ 275.38 billion to $ 280.07 billion, according to the city’s property assessment division. This is lower than the 6.8% increase the island experienced the year before.
For properties classified as residential, such as single-family homes, valuations rose 1% to $ 217.82 billion. Hotel and resort properties increased 4.1%, commercial properties 3.4% and industrial properties 6.9%.
Increases in assessed value may vary by neighborhood and other factors.
For the current fiscal year, City Council has approved property tax increases for hotels / resorts and residential condos and homes of over $ 1 million unused as primary residences, all to help cover a operating budget of $ 12.8 billion.
Acting Mayor Roy Amemiya Jr., said at the time that the additional income would be used to address Honolulu’s unfunded healthcare and pension obligations, and to “prepare us for future operations and maintenance. railway “.
Homeowners can file an appeal of their reviews by January 15 in person, by mail, or online. There is a $ 50 deposit for a call.
Those with questions can call the city’s call hotline at 808-768-7000 from December 16 to January 15 during business hours or send an email to [email protected] More information is available on the Property Assessment Division website.