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Sorry to interrupt your programming but Hawaii News Now has breaking news from City Hall.
Hawaii News Now has learned Mayor Rick Blangiardi will eliminate higher property taxes for out of state residents with multimillion dollar second homes and tax them at the same rate as residents.
A Hawaii News Now poll has shown over 99% of Oahu residents support a higher tax rate on multimillion dollar homes for out of state residents.
When asked for comment: the Mayor said this is all about being fair. Just because you don’t live here and have a multimillion dollar home why should the pay more than a resident?
When asked how he’d make up that revenue shortfall - the Mayor replied - well, we will either raise everyone’s property tax but in my I want to fair mode - I don’t think it’s fair taxpayers fund public housing since most aren’t in public housing and The Bus - since not every rides The Bus. So we are going to raise The Bus fares and cut public housing housing.
Interesting.
So, is he going to eliminate progressive income tax rates next in the name fairness?
Huh?!? If they were doing that, they would be paying the lower "homeowner" rate. Sounds more like they are out of state residents that show up once in a while to their vacation home.
My building allows 30 day rentals. There are people that have been coming here for a few months a year for 20-30 years that have more impact on the NBHD than year round renters/owners,
My building allows 30 day rentals. There are people that have been coming here for a few months a year for 20-30 years that have more impact on the NBHD than year round renters/owners,
YAY. They can definitely afford property taxes then!!!!!!!!
You buy a property and you have no control of the appreciation.
Oh the horrors - appreciation from $1,000,000 to $4,500,000 - what shall this theoretical family do? Sell the family heirlooms? I'm sure they've never had maintenance fees go up either or received a special assessment.
Certainly you must have other tales of these second homeowners and their inability to pay property taxes on multimillion dollar homes. I think you should reach out to twitter to Hawaii News Now and propose another Priced out of Paradise segment on these multimillion dollar second homeowners struggling to make it in Hawaii.
They usually focus on local families or homeless - but this may make for an interesting twist.
You can control your income. You buy a property and you have no control of the appreciation.
I guess I can control income by getting out of my preferred investments, and into something that throws off less dividends. I guess people still working can control it by quitting their high paying jobs or lower paying jobs.
Couldn't you control appreciation by swapping to a property in an area with less appreciation?
I have always liked paying more taxes because I was making more money.
Seems like a really dumb move, but at least you could stop whining about having to pay more taxes on the appreciated second property?
I guess I can control income by getting out of my preferred investments, and into something that throws off less dividends. I guess people still working can control it by quitting their high paying jobs or lower paying jobs.
Couldn't you control appreciation by swapping to a property in an area with less appreciation?
I have always liked paying more taxes because I was making more money.
Seems like a really dumb move, but at least you could stop whining about having to pay more taxes on the appreciated second property?
I dunno, maybe you could contribute some earnings to a tax deferred retirement plan so us FN rich people don't have to pay for your Medicaid LTC instead of blowing yer money at Club Hubba Bubba and bitchin' about the savers that you want to claw down to your level. Geez, I never whined, I merely pointed out the unfairness of the law. Geez, let's make everything based on your accumulation and triple the registration on that second car and quadruple the third car that I pay for so you can park them on the street. That will get you on the rail when it is finished in 10-20 years! LOL
It sounds like to came from the mainland with a chip on your shoulder. Go down to the beach and be as one with nature. Not my beach now. I paid more to not have your likes on my beach. "Git off my beach" but seriously, I hope you find the Aloha that you were searching for.
Oh the horrors - appreciation from $1,000,000 to $4,500,000 - what shall this theoretical family do? Sell the family heirlooms? I'm sure they've never had maintenance fees go up either or received a special assessment.
Certainly you must have other tales of these second homeowners and their inability to pay property taxes on multimillion dollar homes. I think you should reach out to twitter to Hawaii News Now and propose another Priced out of Paradise segment on these multimillion dollar second homeowners struggling to make it in Hawaii.
They usually focus on local families or homeless - but this may make for an interesting twist.
Aloha, I have no problem with people paying their way. I, and the Mayor just think it is unfair to charge some people more for the same thing. I have no idea of car registration but I assume you pay the same rate as someone with a Carolla but you pay more because your car is worth more. Correct me if I am wrong.
Again, the homeowner had little to no control over the appreciation. They have their memories there and maybe a dog or two buried in the back yard and JUST because richer people decided to pay 4 times more for the property next door that means their taxes should rise accordingly. They bought a million dollar house and were willing to pay taxes on a million dollar house. You want them to pay on a $4,000,000 house or SELL. That only makes sense in an evil world. Is that what you want to contribute to?
Geez, I never whined, I merely pointed out the unfairness of the law.
Except there is nothing unfair about a law that has a higher tax rate for second homes (and that higher tax starts at $1,000,000). It helps keeps primary resident rates lower.
Here is the thing that gets me with eliminate GET discussions - or now, multimillion dollar homes are taxed higher than primary residences - nobody ever offers up alternatives - such as, you eliminate that tax - where else do you get the revenue - tax every one else higher? Seriously, put a higher tax burden on residents so second home owners can enjoy lower taxes? Or, what do you want to cut without the revenue - list it out - of course, that likely impacts local residents also.
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