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Old 08-14-2012, 11:37 PM
 
Location: Kahala
12,120 posts, read 17,817,240 times
Reputation: 6175

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Quote:
Originally Posted by OpenD View Post
Residential property rate in Hawai'i County is $9.10 per $1, 000 valuation. On $210,000 assessed value that would be about a $2,000 per year. On Maui the residential rate is $5.75/1,000 or $2,000 on $348,000 value.

Granted it's not as bad as Texas, but it's not "almost nothing" either.
Whoa, It is a lot less - $5.55 per $1,000 if you live and own the property - then you have exemptions on top of that - and even more if you are over 65. Still easy to get over $2,000 per year but not nearly as bad as $9.10 per 1,000.
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Old 08-15-2012, 09:37 PM
 
1,730 posts, read 3,799,328 times
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Hawaii County 2011-2012 tax rates (some):

Affordable Rental - Land $5.55, Bldg $5.55
Residential - Land $9.10, Bldg $9.10
Apartment - Land $9.85, Bldg $9.85
Agricultural - Land $8.35, Bldg $8.35
Homeowner - Land $5.55, Bldg $5.55
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Old 08-15-2012, 10:37 PM
 
Location: Kahala
12,120 posts, read 17,817,240 times
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Let's not forget all the exemptions - if it is your principal home you don't really pay $5.55 per $1,000 assessed value.

You've got a base $40,000 exemption right off the top if it is your principal residence. Above 60 years old, and it is $80,000. Above 70 years old. and it jumps to $100,000. So, if you are 70 - you'll pay $2,220 per year on a $500,000 place rather than $2,750 at the full $500,000.

And, if you buy a home - you have to apply for the exemption - it isn't automatic.
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Old 08-16-2012, 07:47 AM
 
93 posts, read 305,217 times
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Residential and homeowner are not the same. Residential is higher because it is considered a second home or investor property. The homeowner (full-time residence) rate on Maui is only $2.75. I think that is what winkosmosis was getting at.
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Old 08-16-2012, 09:01 AM
 
Location: Volcano
12,969 posts, read 28,350,584 times
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Quote:
Originally Posted by zacscott77 View Post
Residential and homeowner are not the same. Residential is higher because it is considered a second home or investor property. The homeowner (full-time residence) rate on Maui is only $2.75. I think that is what winkosmosis was getting at.
Yep, but on the BI rates are double those on Maui, and for a house at the median price on Oahu... currently about $600,000... that $2,000 hypothetical property tax bill the OP proposed is not so outlandish. That's what I was getting at.

As to the original question, looking at my tax bill and the county web site I can't see any reason why I could not pay more than I owe, but I have no clue what the county would do with it... keep it as a credit, or send me a refund. No idea.
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Old 08-17-2012, 01:41 AM
 
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My experience: I paid property tax for a B.I. house. About the same time, during a mortgage deal, escrow held out property tax for the same house. A few months later, the county sent a refund check because of the dual payment. I don't know if they did this because of escrow being involved (some sort of screening of escrow payments), or if they did it because they automatically refund all over-payments. But, we did get back the over-payment, instead of the county just applying it as a credit towards the next year's tax.
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Old 08-17-2012, 12:22 PM
 
Location: North Idaho
32,559 posts, read 47,718,582 times
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It's interesting that taxes are so high for agricultural land and building. That's sort of counter-intuitive and in effect would discourage agriculture. Agriculture provides jobs and income and because of exports, it brings cash into the state from outside and helps the balance of trade.

You'd think the government would want to encourage agriculture.
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Old 08-17-2012, 12:28 PM
 
Location: Kahala
12,120 posts, read 17,817,240 times
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Quote:
Originally Posted by oregonwoodsmoke View Post
You'd think the government would want to encourage agriculture.
Hawaii's economy is mostly based on tourism and the military. Most land that could be used for agriculture sits completely unused as Hawaii cannot compete with places like the Philippines or Mexico and South America as the land is expensive and the wages don't compare. Also, lots of things don't grow well here that are mass produced in places like the midwest and then you have all the massive pesticides you have to apply in Hawaii.
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Old 08-18-2012, 11:06 PM
 
Location: Maui County, HI
4,131 posts, read 7,425,176 times
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Quote:
Originally Posted by whtviper1 View Post
Let's not forget all the exemptions - if it is your principal home you don't really pay $5.55 per $1,000 assessed value.

You've got a base $40,000 exemption right off the top if it is your principal residence. Above 60 years old, and it is $80,000. Above 70 years old. and it jumps to $100,000. So, if you are 70 - you'll pay $2,220 per year on a $500,000 place rather than $2,750 at the full $500,000.

And, if you buy a home - you have to apply for the exemption - it isn't automatic.
I didn't realize Hawaii Island had such a low exemption. Maui's is $200k and the rate is only 0.25% Maui Property Tax Rates and How to Calculate Estimated Property Taxes - Maui Real Estate

So on the typical $400k house you're only paying $500/yr. I'm not sure I'd ever buy in a house in Texas because it seems like you're renting from the state... But I would on Maui.
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