03-24-2006, 12:10 PM
Taking the Residence Exemption is the right way to go. It is a great way to keep the taxes down on your RESIDENCE. For my wife and I, with 8 acres of ag land, we will be able to take an exemption on the residence portion of the property – at best a ¼ acre. BUT we will still have to pay $9.85 per $1K at the county’s assessed value on the ag portion. When we do eventually build a home – not being speculators – the taxable value of the total land will go UP.
Hawaii County tax rate ($9.85 per $1K of assessed value) on ag & conservation land is not reasonable. The tax rate is too high. The County’s current formula for property taxes is out of touch. Ask yourself what has more impact on the County services: Ag & Conservation land or Commercial, Industrial, and Hotel/Resort land? To me the answer is crystal clear.
Think about this: Do you want to be that older person/couple on a fixed income that gets booted off their property due to these tax issues? Just imagine how scary it would be for a law abiding honest older couple. Do you want to be the one without a home that all the “other” people rally around and say, ”Look at this! This is wrong! This needs to changed!”? We sure don’t want to be that homeless older couple!
David D
Hawaii County tax rate ($9.85 per $1K of assessed value) on ag & conservation land is not reasonable. The tax rate is too high. The County’s current formula for property taxes is out of touch. Ask yourself what has more impact on the County services: Ag & Conservation land or Commercial, Industrial, and Hotel/Resort land? To me the answer is crystal clear.
Think about this: Do you want to be that older person/couple on a fixed income that gets booted off their property due to these tax issues? Just imagine how scary it would be for a law abiding honest older couple. Do you want to be the one without a home that all the “other” people rally around and say, ”Look at this! This is wrong! This needs to changed!”? We sure don’t want to be that homeless older couple!
David D