Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many
Honolulu Property Tax Rates for Fiscal Year 2019 - 2020
Dated: May 7 2020
Property tax in Hawaii is always an interesting subject. For starters, we are one of the only states that does not use property tax to pay for education. Long ago, the decision was made that to ensure the children of Hawaii had equal access to education regardless of geographic remoteness and/or value of property (among other equalizers), that the State would pay for education from the general fund, rather than the counties' from property tax.
We also have pretty low property tax rates -- residential rate is only $3.50 per $1,000 assessed value (after applicable exemptions) for owner occupied properties regardless of value. So a single family, owner occupied, home valued at $1 million will result in Honolulu property taxes that are roughly $3,150 per year.
Here is the table of Honolulu property tax rates for the fiscal year July 1 2019 through June 30 2020:
All information is believed to be reliable but is expressly not guaranteed. This blog post is not intended to provide legal, tax or mortgage advice and readers are encouraged to check with licensed professionals for advice on any specific topic and to verify any information herein.
Kasandra Shriver started her career in real estate 2012, and joined HomeQuest, Realtors LLC in 2014 where she is a Broker. Kasandra is both a homeowner and investment property owner and has the pro....
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Property tax rates for 2020-2021 did not see much change. Owner occupied residental rates remained the same.Here is the table of Honolulu property tax rates for the fiscal year July 1 2020
Property tax in Hawaii is always an interesting subject. For starters, we are one of the only states that does not use property tax to pay for education. Long ago, the decision was made