HomeMy WebLinkAboutCOM 0674.001 2022-2024 P/
bill 120
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Jan. 23, 2024, 9 a.m.
To: Matt Kaneali'i-Kleinfelder, Chair
Cindy Evans,Vice-Chair
Hawaii County Council, Committee on Finance c-s
From:Jonathan Helton -
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Policy Researcher, Grassroot Institute of Hawaii t
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Comments on Bill 120 °'
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Aloha Chair Kaneali'i-Kleinfelder,Vice-Chair Evans and Committee members,
Thank you for considering Bill 120, which would cap the property tax bills of homeowners 85 years old and older.
Under the new "stabilization program," any homeowner 85 or older could join and have their tax bill capped at
the amount it was the year before they enrolled. For example, a qualifying couple paying$1,800 a year in
property taxes would not see that amount increase due to higher rates or higher assessments resulting from
natural changes in the real estate market Their tax bill could then increase only if they remodeled or improved
their home or became ineligible for a homeowner exemption.
Meanwhile, their tax bill could also decrease. Lower tax rates, higher homeowner exemption values and lower
property assessments could all lower their tax bill without removing them from the program.
Because many older homeowners live on fixed incomes, higher property taxes can negatively affect their daily
lives by forcing them to forgo groceries, utilities or medications.This bill would provide older homeowners more
protection against property tax increases than any currently existing anywhere in the state.
Thank you for the opportunity to testify.
Jonathan Helton
Policy researcher
Grassroot Institute of Hawaii
Comm. No. •
Ref. To:
1050 Bishop St.#508 I Honolulu,HI 96813 808-864-1776 I info@grassrootinstitutap, Date 4AN 24