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I understand home prices are higher than the mainland, but how exactly low is property tax in Oahu? Would you say low property tax reduces the cost of living to any extent in Hawaii? I'm paying $5,500 for three room townhome in a medicore area in Northeatern part of the mainland for current levy period.
Yes the property tax is low which is great. Income tax is better because it scales with your income instead of the value of something you own.
But even if the cost of living on Oahu was lower than Texas, it wouldn't be worth living here. Quality of life is among the worst as far as American cities go. The ONLY good thing about this island is that beaches are within a 1 hour drive generally. But the same is true about every major California city...
Property taxes are low for residential zone homes/condos. But go up substantially if you are zoned and using the property for short term vacation rental. In my building. Vacation rental units have property taxes about 3x higher than residential use units.
Jackal one: I didn't realize you dislike living in Hawaii so much. Could you expand upon why you choose to move to Hawaii and why you found you don't like it. And are you planning to leave. Perhaps start a new thread on your story so not to hijack this one.
I would say if you were to take that same townhome, move it to Oahu and made it your main residence the property taxes would easily be less than $1000. Having said that property tax is only one of the many considerations to consider when moving to Hawaii!
Easily less than $1,000? Not many 3bdrm townhomes on Oahu under $285k.
Well, I wanted to FYI you that when I bought my townhome here in Baltimore metropolitan area, I paid half a million not including the moving, settlement, and deed.... back in 2007. Now if I were to sell, I could get $400k. Possibly less. Not many 3bdrm townhomes not being under $285 sounds just about the same as where I'm living on mainland.
You can compare based on milage rates per $1,000 of assessed value. In Honolulu the rate is $3.50 per $1,000 for most properties. It's $6.00 per 1,000 for certain properties assessed over $1,000,000. And it's $12.90 per $1,000 if you have a condo or house zoned and used for vacation rental.
You can compare that with your local rates.
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