HomeMy WebLinkAboutCOM 0674.008 2022-2024 P / Counoi I
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Feb. 21, 2024, 9 a.m.
Hawaii County Building
To: Hawaii County Councila'
Heather Kimball, Chair
Holeka Goro Inaba,Vice-Chair n
—Ca .
From: Grassroot Institute of Hawaii '
Jonathan Helton, Policy researcher --
COMMENTS IN SUPPORT OF BILL 120 — RELATING TO A REAL PROPERTY TAX STABILIZATION PROGRAM
Aloha Chair Kaneali'i-Kleinfelder, Vice-Chair Evans and Committee members,
The Grassroot Institute would like to offer its comments supporting Bill 120, Draft 2,which would cap the
property tax bills of homeowners 85 years old and older, provided their homes are worth $2 million or less.
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 assessments resulting from changes
in the real estate market. It would go up 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. At little cost to the County,this bill would
provide older homeowners more protection against property tax increases than any program currently existing
anywhere in the state.
Thank you for the opportunity to testify.
Jonathan Helton, Policy researcher
Grassroot Institute of Hawaii
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1050 Bishop St.#508 I Honolulu,HI 96813 I 808-864-1776 I info@grassrootinstitute.mmm. l/V ��
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