HONOLULU REAL PROPERTY TAX & TRANSACTION CLOSING COSTS INFORMATION
CLOSING COSTS INFORMATION
TAX INFORMATION FOR HONOLULU COUNTY - ISLAND OF OAHU
| REAL PROPERTY TAXES: | PROPERTY CONVEYANCE TAXES: | |
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If you are looking to live on Oahu, you need the tax rates for Honolulu County. The entire island of Oahu is Honolulu County. There are no other counties on the island of Oahu. Honolulu County Property Taxes Rates & Exemptions Rates for Residential Property July 1, 2009 - Jun 30, 2010 is: $3.42 per $1000 of assessed value, minus exemptions.
The amount of the tax exemption depends on your age, income and how you use the property (personal residence or investment). Currently, owner-occupied exemption is $80,000. If you are 65 or older then the exemption goes up to $120,000. There are additional exemptions for persons over 75 in low-income households.
Property Taxes for each County (Island) May Vary. See Chart Below. |
There is also a Real Property Conveyance Tax, which is paid by the SELLER of Real Property, as part of his or her closing costs. The amount of conveyance tax paid by the Seller will vary depending upon the purchase price of the property and what the Buyer of the of the property plans to do with the property(owner-occupied, resident or non-owner occupied, investor). set forth in the Blog Article Below. HARPTA/FIRPTA - These are special income tax withholdings in the closing process that apply to non-Hawaii and foreign country sellers of Hawaii real property. |
TO LEARN MORE ABOUT HONOLULU COUNTY PROPERTY TAXES & EXEMPTIONS, INCLUDING HOW TO APPLY FOR TAX EXEMPTIONS ON OAHU, SEE MY ACTIVE RAIN BLOG: Hawaii Property Tax Rates for 2009-2010 - Higher, but Hawaii Property Taxes Still Quite Low Compared to Other States
TO LEARN MORE ABOUT HONOLULU COUNTY PROPERTY CONVEYANCE TAXES, INLCUDING THE CURRENT PROPOSED CHANGES TO THE TAX STRUCTURE, SEE MY ACTIVE RAIN BLOG: Potential Tax Increase for Purchasers of Luxury Homes Passed by Hawaii Legislature




