Island Real Estate - Property Taxes - Valuation Not Necessary

Posted on: March 19, 2008 at 9:47:14 am
Property Taxes - Valuation Not Necessary

Isn't it interesting that our City Council is now discussing tying property taxes to the CPI (full story) instead of valuations? This just happens to come at a time when real estate prices have stopped accelerating but the CPI in Honolulu is rapidly increasing.

Why wasn't this change proposed when home prices were rising and the CPI was flat?

I think this tactic is nothing short of a desperate attempt by certain members of the Council to hide a tax increase so they can continue to spend above their (our) means.

What do you think?

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Comments:

Comment from: Kailuaguy [Visitor]

Yes - the Council is just being a bunch of chickens. Act like grown ups and cut the rate when valuations go up, and raise the rate when they go down.
The point of valuations is that it assures people living in affeluent neighborhoods pay more than those who don't. But they both should go up an down at the same rate of change....

03/20/08 @ 09:39

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